The Investment Committee comprises of Hamish Harris (as Chairman) and Donald Strang.
The Investment Committee is responsible for assessing, negotiating, overseeing due diligence on, and monitoring of, investments (noting in particular the requirement to ensure sufficient working capital remains in the Company following any investment).
The Investment Committee meets monthly to consider new investment propositions and to discuss the performance of the Company’s investments ensuring that each investment is contacted at least once a month to allow the Investment Committee to fully understand the performance of each investment. The Investment Committee ensures that wherever practicable and appropriate each investment that the Company makes agrees to adhere to the Company’s investment monitoring code which sets out amongst other matters:
-the legal and regulatory obligations with which the investment must comply as a consequence of the Company’s public status such obligations including restrictions on dealing in the Company’s shares;
-ensuring that the investment provides the Company with the information needed by the Company to make such disclosures as are required under the Regulatory Rules;
-the procedures and policies with which the investment must comply regarding communication of material information regarding the investment and a restriction on the publication of any price sensitive information without the prior approval of the Company;
-the monthly reporting requirements of the Company in relation to the investment including, where appropriate, management accounts; annual budgets and forecasts
The Investment Committee reports monthly to The Board on the performance of the investments in order to allow The Board to consider the impact of the investments on the Company’s requirements under the Regulatory Rules particularly with regards to disclosure requirements.
Following satisfactory due diligence and negotiations the Investment Committee shall make a recommendation to the board for the final investment decision in relation to any new investment. Any new investment shall require majority approval of the investment committee before it is referred to the full board of the Company for approval.
In accordance with the Regulatory Rules for Companies AfriAg Global Plc has adopted a share dealing code for the Directors and senior employees and will take steps to ensure compliance by the Directors and any relevant employees with the terms of the code.