The Board of Directors of CIM Financial Services Ltd (‘CFSL’) wishes to announce that it has approved:
a) the launch of a fund raising programme of MUR3BN (the ‘Green Funding Programme’) that it plans to implement and deploy over the next 5 years; and
b) the setting of an employee share option scheme (‘ESOS’) in favour of the employees of CFSL and its subsidiaries (the ‘CFSL Group’).
Green Funding Programme
The funds raised through the Green Funding Programme will be channelled into the financing of ecofriendly vehicles/equipment as well as green and/or sustainable projects as part of CFSL’s strategy to promote sustainability.
The Green Funding Programme is subject to the approval from relevant regulatory authorities and the public will be kept informed of future developments.
Subject to the approval of the relevant authorities and that of the shareholders at a special meeting, the Board will be authorised to issue an aggregate maximum number of up to 16,999,998 ordinary shares of the Company (the ‘Shares’) under the ESOS, subject to a maximum of 5,666,666 Shares being issued in any given financial year under the ESOS.
Selected members of CFSL Group’s executive management team (the ‘Eligible Members’) will be granted options (the ‘Options’) to subscribe to the Shares at a predetermined price. The Options shall vest over a three-year period in equal proportion and shall be exercisable through two specific windows over a period of five years from the vesting. Any Option available to an Eligible Member cannot be assigned, or transferred, encumbered or disposed of. The Shares issued pursuant to the ESOS will rank pari passu with existing ordinary shares inter alia in terms of dividends, capital and voting rights.
An application will be made to the Stock Exchange of Mauritius for the listing of the Shares to be issued upon exercise of the Options.
By order of the Board
Cim Administrators Ltd
29 November 2021
This communiqué is issued pursuant to Listing Rule 11.3 and Rule 5 of the Securities (Disclosure Obligations of Reporting Issuer) Rules 2007.
The Board of Directors of CIM Financial Services Ltd accepts full responsibility for the accuracy of the information contained in this communiqué.