PrimeTime Board of Directors

Board of Directors

The Directors are aware of their responsibility to operate the company with integrity and according to accepted codes of corporate conduct. The Directors are responsible for maintaining a system of internal control at an appropriate level. They are also responsible for monitoring the preparation of the annual financial statements and the related financial information in this annual report, and are also responsible for approving these financial statements, thereby ensuring that they fairly present the company’s affairs for the financial year under review.

The day-to-day management of the company is performed by Time Projects (Botswana) (Pty) Limited, who have a contractual relationship as the property and asset managers. The Board performs a detailed review of this management and the performance of the company at its quarterly meetings, monitoring the financial results against the business plan and budget. The Board is responsible for formulating and implementing company policy and making all strategic decisions.

The offices of Chairman and Managing Director are separate, in accordance with global best practice. The Chairman is a non-executive Director. The Board remains sensitive to the related party transactions between PrimeTime Property Holdings Limited and Time Projects (Botswana) (Pty) Limited. All such transactions are subject to full scrutiny and approval by the independent Board members before Unit holder approval is sought. Additional meetings and/or discussions are held by the independent Board members if necessary in order to facilitate this. Every effort is then made to provide Unit holders with full disclosure of these transactions prior to voting.