Category: Investment committee

An investment committee consisting of the CEO, the Finance Director and an independent Director appointed by the board has a mandate to recommend important (dis)investment decisions to the board. A certain autonomy is given to the CEO and the committee for the available-for-sale investments but given the importance of PAD’s holdings in Médine, Caudan Development and Mauritius Freeport Development, sales of shares in these companies require the approval of the directors, although from time to time, the board will give the CEO the freedom to consolidate the company’s positions in these holdings as and when market conditions are favourable. Although private equity investments do play a small part in PAD’s strategy, management time is focused on delivering value through an active participation in the affairs of the three core holdings.