GOVERNANCE: THE CORNERSTONE OF OUR BUSINESS

OTHER STATUTORY DISCLOSURES

(Section 221 of the Mauritius Companies Act 2001)

Principal Activity and History

CIEL Limited, formerly known as Deep River Investment Limited, incorporated on 31 August 1948, is a public company listed on the Official Market of the SEM since 4 February 2014. On 24 January 2014, CIEL Investment Limited was amalgamated with and into Deep River Investment Limited (“DRI”). DRI, as surviving company post Amalgamation, was renamed CIEL Limited. CIEL is also registered as a Reporting Issuer with the Financial Services Commission since the promulgation of the Securities Act 2005. CIEL is an investment holding company, with investments in six distinct business sectors:

Directors’ Service Contracts

The executive directors are remunerated by CIEL Corporate Services Ltd, a subsidiary of CIEL, with no expiry terms to their terms and conditions of their employment. The persons who held office as Directors of CIEL as at 30 June 2022 are disclosed in the corporate governance report.

Shareholding Profile

OWNERSHIP BY SIZE OF SHAREHOLDING

OWNERSHIP BY SIZE OF SHAREHOLDING	Shareholder Count	Number of Shares	Percentage Held
1 - 500	1,081	197,670	0.0117
501 - 1,000	306	245,596	0.0146
1,001 - 5,000	710	1,835,928	0.1088
5,001 - 10,000	369	2,723,106	0.1614
10,001 - 50,000	757	19,033,818	1.1279
50,001 - 100,000	258	18,450,577	1.0933
100,001 - 250,000	318	49,692,494	2.9446
250,001 - 500,000	114	40,108,511	2.3767
500,001 and above	240	1,555,272,298	92.1610
Total	4,153	1,687,559,998	100

OWNERSHIP BY CATEGORY OF SHAREHOLDING

CATEGORY	Shareholder Count	Number of Shares	Percentage Held
Individuals	3,675	533,949,781	31.6403
Insurance and Assurance companies	19	71,730,561	4.2505
Investment and Trust companies	85	390,251,796	23.1252
Pensions and Provident funds	79	181,842,574	10.7755
Other Corporate Bodies	295	509,785,286	30.2084
Total	4,153	1,687,559,998	100

The above number of shareholders is indicative due to consolidation of multi portfolios for reporting purposes. The total number of active shareholders as at 30 June 2022 was 4,179.

Directors Of Subsidiaries

Directors of subsidiaries as at 30 June 2022 are listed under Annexure A.

Retirement Benefit Obligations

The details of the total amount of provisions booked or otherwise recognised by the Company are provided in the financial statements.

Major Transactions

CIEL did not enter into any major transaction as defined under the Companies Act 2001 during the financial year under review

Directors’ Remuneration
and Benefits

The table below depicts the total directors’ remuneration and benefits paid to the Executive and Non-Executive Directors of CIEL for the financial year ended 30 June 2022.

	The Company	Subsidiaries
	2022 MUR’000	2022 MUR’000
Directors of the Company
Executive Directors	-	58,744
Non-Executive Directors	9,566	6,155

Audit Fees as at
30 June 2022

The fees paid by the Company to the auditors for audit and other services for the financial year are depicted in the table below:

	2022 MUR’000
Local External Auditors:
Audit Fees	1,957
Other Fees	891
Foreign External Auditors:
Audit Fees	-
Other Fees	-

Related Party Transactions

Transactions with related parties are disclosed in detail in the financial statements.

Contract Of Significance

There were no contracts of significance subsisting during or at the end of the year in which a Director of the Company is or was materially interested, either directly or indirectly.

Share Registry & Transfer Office

CIEL’s Share Registry and Transfer Office is administered by MCB Registry & Securities Ltd. If you have any queries regarding your shares, wish to change your name or address, or have questions about lost certificates, share transfers or dividends, you may contact either your Investment Dealer or the Share Registry and Transfer Office, whose contact details are as follows:

MCB Registry & Securities Ltd - Ground Floor, Raymond Lamusse Building, 9/11 Sir William Newton Street, Port Louis
Tel: +230 202 5640

On Behalf of the Board

P. Arnaud Dalais
Chairman of the Board

Catherine McIlraith
Director