The investment advisor
NEPI Investment Management Limited
Midocean Chambers
PO Box 805, Road Town,
Tortola, British Virgin Islands
Directors of the Investment Advisor
Martin Slabbert
Martin Slabbert has 12 years' of experience within the finance industry where he initially gained experience in mergers and acquisitions, turn-around and financial restructuring through positions at Arthur Andersen and HSBC Investments Services (South Africa) (Pty) Ltd. In 2001, Mr. Slabbert joined the Nedbank Group via NIB and held the positions of senior vice president for shareholders' funds and member of the executive committee at NIB, and later general manager in the capital management cluster of the Nedbank Group. His focus was on the restructuring and disposal of non-core assets, mitigation of large bank exposures and investment banking transactions. This included a one year secondment to Premier Foods Ltd as CFO to assist with the group's turn around.
More recently, Mr. Slabbert held the position of partner of financial advisory services for Deloitte Central Europe, heading the financial advisory practice in Romania, the corporate finance practice in the Balkans and the Deloitte Central Europe corporate finance advisory industry sector teams. Mr. Slabbert holds a Bachelor and a Masters of Commerce and a Bachelor of Laws.
Victor Semionov
Victor Semionov has had eight years of experience with the corporate finance practice of Deloitte in Romania and Moldova where he was involved in more than 30 transactions covering fund raisings, restructurings, acquisitions, mergers and sales of distressed or expanding businesses with an aggregate transaction value in excess of €7 billion. Mr Semionov holds a number of corporate finance qualifications.
Andries de Lange
Andries de Lange spent four years with the Industrial Development Corporation of South Africa before joining Nedbank where he was involved in private equity and a number of equity and debt restructurings. Mr de Lange joined Property Fund Managers Limited ("PFM", managers of Capital Property Fund) in 2004 and is a director of Resilient Property Income Fund Limited, Diversified Property Fund (Proprietary) Limited and PFM.
Jeffrey Zidel
A former South African Property Owners’ Association regional chairman and three times past president of the Roodepoort Chamber of Commerce, Mr Zidel has been a property developer and investor for over 30 years and is currently one of the largest retail property investors in Lesotho. Mr Zidel is currently a director of Resilient, a public company listed on the Johannesburg Stock Exchange.
Remuneration payable to the Investment Advisor
The Investment Advisor is entitled to the following fees:
Advisory fee
Advisory fee calculated as 1 per cent per annum of the daily average market capitalisation of the Company.
Performance fee
Annual performance fee equal to 20 per cent of dividends from investment income (whether declared or not) that exceeds an annual 10 per cent return on the capital contributions of the shareholders of the Company. If in any year this dividend yield is less than 10 per cent, then the Company will claw back any performance fee accrued in the previous year, limited to fees paid in the previous year, to the extent required to achieve a 10 per cent dividend yield in respect of the year under consideration. The claw back will be paid by setting off the amount due against the accrued performance fee not yet paid.
