Annual Report 2019

Directors’ attendance at Board and committee meetings as well as their remuneration during the financial year ended 30 September 2019 was as follows: ATTENDANCE INTERESTS REMUNERATION Board meetings CGC RMAC BIC Direct % Indirect % MUR TAYLOR, Colin 7/7 n/a n/a 2/2 0.0416 3.49 940,000 CLARKE, Teresa Hillary 6/7 2/3 n/a n/a nil nil 630,000 DARGA, Amédée 6/7 n/a 4/5 2/2 0.0013 nil 830,000 JAUNBOCUS Fareedooddeen 7/7 n/a 5/5 n/a nil nil 710,000 SOMEN, David 7/7 3/3 n/a n/a nil nil 1,061,800 TAYLOR, Matthew 7/7 n/a 5/5 1/1 * 0.0059 1.19 680,000 TAYLOR, Philip 7/7 3/3 n/a n/a nil 3.49 650,000 TAYLOR, Timothy 7/7 3/3 n/a 0/2 0.4108 9.96 660,000 VAN BEUNINGEN, Mark 7/7 3/3 n/a 2/2 nil nil 18,767,212 * as alternate to Timothy Taylor 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, which is made in a transparent and formal manner, is available on the website of the company (https://www.cim.mu/governance-cfsl.html) . All directors will stand for re-election by way of separate resolutions at the Annual Meeting of Shareholders of the Company scheduled in February 2020. 2.4. Induction and Orientation The Board is responsible for the induction of new directors to the Board, a process facilitated by the Company Secretary. The induction programme has been designed to make directors fully aware of their legal duties and to acquaint them with the Company’s structure, strategies, vision, mission and values. 2.5. Professional Development The Board reviews the professional development needs of directors during the Board evaluation process and directors are encouraged to develop their skills and expertise continuously. They also receive regular updates on the latest trends and legislative acts affecting the business from management and/or other industry experts. 2.6. Board access to information and advice All directors have access to the Company Secretary to discuss issues or to obtain information on specific areas or items to be considered at Board meetings or any other area they consider appropriate. Furthermore, directors have access to the Company’s records and the right to request independent professional advice at the Company’s expense. CIM FINANCIAL SERVICES LTD / ANNUAL REPORT 2019 Corporate Governance Report 40