Structure, Meetings & Responsibilities

Structure

Presently the Board is composed of 2 members:

Wayne Ashby
Laura Joswiak

Our approach has been that a viable biofuel operation will require a number of areas of expertise, and we have sought to secure the partnership and or services of some of the leading international experts in each particular field of specialization with appropriate management structures to support the successful development of the project.

Various expert companies are required to bring sufficient expertise to the project to ensure reaching commercial viability. Most of these companies will at least be required to enter into technical support agreements if not into turn-key management contracts for certain components. This will inadvertently result in varying labor and management practices for certain components of the project. It is therefore necessary to ensure that sufficient overall strategy implementation and monitoring expertise is available in-house, or brought in externally with emphasis on the plantation.

Meetings

a) Frequency
The board meets normally once per month for regular meetings and occasionally in case of emergency.

b) Agenda
The following points are obligatory on the agenda of the regular meeting.

Approval of the report of the previous meeting
Analysis of the general market situation
Analysis of the company results
Sales Forecasts
Miscellaneous

c) Decision taking
Decisions are taken by “majority” of the Board members.

Responsibilities

The Board is responsible for the short/mid and long-term strategies of the company with regard to

Business development
Product development
Geographical expansion
Management regulations and structures
The guidelines for establishment of the budgets
Finalization of the budgets
Follow-up (control) of the budgets
Finalization of the P&L and annual balance sheets
Legal issues