CFSL - Annual report 2018

Directors’ attendance at Board and committee meetings as well as their remuneration during the financial year ended 30 September 2018 was as follows: Status Attendance Interests Remuneration Board meetings CGC RMAC BIC Direct % Indirect % MUR TAYLOR, Colin Chairman and Non- Executive Director 7/7 n/a n/a 1/1 0.0416 3.49 1,180,000.00 CLARKE, Teresa Hillary Independent Director 7/7 7/7 n/a n/a nil nil 680,000.00 DARGA, Amédée 1 Independent Director 7/7 n/a 5/6 1/1 0.0013 nil 670,000.00 DESCROIZILLES, Marcel 2 Independent Director 6/6 n/a 5/5 n/a 0.0257 nil 770,000.00 JAUNBOCUS Fareedooddeen 3 Independent Director 2/2 n/a 1/1 n/a nil nil 240,000.00 SOMEN, David Independent Director 7/7 7/7 n/a n/a nil nil 1,048,900.00 TAYLOR, Matthew Non-Executive Director 7/7 n/a 6/6 n/a 0.0059 1.19 660,000.00 TAYLOR, Philip Non-Executive Director 7/7 6/7 n/a n/a nil 3.49 670,000.00 TAYLOR, Timothy Non-Executive Director 7/7 7/7 n/a 1/1 0.4108 9.96 690,000.00 VAN BEUNINGEN, Mark Executive Director and Group CEO 7/7 7/7 n/a 1/1 nil nil 16,080,256.00 1 Mr Amédée Darga was appointed as the interim chairman of the RMAC on 01 August 2018 2 Mr Marcel Descroizilles passed away on 28 July 2018 3 Mr Fareedooddeen Jaunbocus (also known as Fareed) was appointed as director and member of the RMAC on 06 April 2018 and 01 August 2018 respectively. 2.3. Appointment The Board assumes the responsibilities for succession planning and for the appointment of new directors to the Board. The process for the appointment of directors is available on the website of the Company (https://www.cim.mu/governance-cfsl. html). During the year under review, the Corporate Governance Committee of the Company, acting in its capacity as Nomination Committee, recommended to the Board the appointment of Mr Fareedooddeen Jaunbocus as additional director of the Company. All directors will stand for re-election at the Annual Meeting of Shareholders of the Company scheduled in February 2019. 2.4. Induction and Orientation The Board is responsible for the induction of new directors to the Board. Upon his appointment, Mr Fareed Jaunbocus received an induction pack from the Company Secretary and had a briefing session with the Chief Executive Officer. CORPORATE GOVERNANCE REPORT 28 CIM FINANCIAL SERVICES LTD ANNUAL REPORT 2018