The Investment Committee will consist of the following persons:
|Kabelo Moja||Chief Executive Officer (CEO) and Principal|
|Kabelo Senoelo||Chief Investment Officer and Principal|
|Dudu Hlatshwayo||Independent Member|
|Stephan van der Walt||Non-Executive Director|
|Konrad Fleischhauer||Independent Member|
The Investment Committee, if deemed necessary, may on a deal by deal basis introduce further independent members to the committee who specifically have experience in the relevant field (sector). These members will need to have investment experience.
A formalised terms of reference will be adopted by the Ascension board clarifying the Investment Committee’s mandate. The Investment Committee must have at least five members. There will be at least two independent members. The members of the Investment Committee will be appointed from time to time by the Fund Manager.
- The Investment Committee would need to approve any investment recommendations or proposals to be made to the General Partner in relation to opportunities or investments;
- The Investment Committee may assist, provide guidance and advise executive management on such investment opportunities; and
- The Investment Committee shall make recommendations to the General Partner.
The Investment Committee will have the authority to:
- Formulate investment and investment related recommendations to the General Partner;
- Take and implement decisions on any matter delegated to it by the General Partner in terms of the formal “Delegation of Authority” document or on an ad hoc basis;
- Sub-delegate any of the authority delegated to it;
- Investigate, monitor and report to the General Partner on any activity within the scope of its mandate;
- In the fulfilment of its duties, call on such other directors of the General Partner or Fund Manager to provide it with information, subject to following a board-approved process, if any;
- Access the records of the General Partner or Fund Manager, facilities and any other resources necessary to discharge its duties and responsibilities; and
- If required obtain independent outside professional advice to assist with the execution of its duties, at the cost of the Fund, subject to following a board-approved process, if any.
Administration & meetings:
- Frequency: The Investment Committee will not have a formal meeting schedule and will meet as often as is required or desirable, having regard to the matters that fall within its mandate.
- Chairperson: The chairperson of the Investment Committee will be appointed at the first Investment Committee meeting and shall be an independent member.
- Quorum: If more than one member of the Investment Committee is not present, there shall be no quorum.