corporate profile - temic energy ltd

Corporate Profile Management Policies TEMIC ENERGY LIMITED, P. O. BOX 22350 – 00400 NAIROBI, KENYA T/F: +254-020-8562892/8561749, M: +254-729-252856/731-598910/774-191363/722-335410; SKYPE: TEMIC.ENERGY Prepared and Published by TEMIC ENERGY LIMITED 6/8/2012

2 CORPORATE PROFILE (MANAGEMENT POLICIES) OF TEMIC ENERGY LIMITED, P. O. BOX 22350 – 00400 NAIROBI, KENYA T/F: +254-020-8562892/8561749, M: +254-729-252856/774-191363/731-598910/722-335410; SKYPE: TEMIC.ENERGY

Corporate Structure

Temic Energy Limited, is a private Limited Liability Company, incorporated under the Companies Act, Cap 486 of the laws of the Republic of Kenya, CPR/2012/67450; Physical Address: Savvprint Building, Mirema Drive off Thika Road, Behind Safari Park Hotel, next to United States International

University, Nairobi, Kenya; Mailing Address: Post Office Box 22350 Tom Mboya Street 00400, Nairobi, Kenya; T/F: +254-020-8562892/8561749, M: +254-729-252856/731-598910/774-191363/722-335410/722-369184; SKYPE: TEMIC.ENERGY

Temic Energy Limited has four main divisions - Renewable Energy, Real Estate, Commodities Trading and Private Finance. Under Renewable Energy we are involved in seeking investment opportunities from clean energy sources such as Wind, Solar, Geothermal,

Nuclear, Biomass, etc. We work with leading investors globally to fight global warming. Our current projects include a proposed 500MW solar photovoltaic power generation project in Kenya and a proposed 50MW biomass Co generation power plant for a leading brewer in Kenya. The projects have a combined value of over $1.5 billion USD.

Under Real Estate, we are currently involved in the development of a proposed modern city in Ruiru, Kenya on a 880 Ha property. The proposed development is the joint effort of global investors and leading tier-1 compliance / regulatory hubs. The $5 billion USD green project involves the

development of 21,000 villas plus Commercial and Social Infrastructure. Under Commodities Trading, the company facilitates trades globally in Oil, Metals, Minerals and Agricultural Commodities. Under Oil and Gas, the

company has direct connections to leading, established majors and non majors in the industry including oil refineries in Russ ia and the USA. We have buyers across the globe. We trade mainly in BLCO, REBCO, D2, JP54, JetA1, M100, LPG, LNG, UREA. In Metals and Minerals, we trade in Coal, Copper, Iron, Gold, Silver and their Ores. In Agricultural Commodities we can supply Sugar, Rice and general grains anywhere in the World.

We are direct to a few multinationals and larger trading houses. Under Private Finance, we deal with Bank Instruments, institutional lines of credit, Private Equity, Private Placement platforms, and Structured

Finance. We are direct to leading global asset managers, investment banks and tier-1 global banks such as HSBC, Duetsche Bank, UBS and JP Morgan. Board of Directors, Management Board

1. Chairman, Managing Director, Chief Executive Officer – Mr. James Wanderi Kairu 2. Vice Chairman, Business Director, Chief Business Officer – Mrs. Julia Wairimu Wanderi 3. Director, Company Secretary, Legal Counsel – Mr. Martin Maina 4. Board Adviser – Mr. Jigar Shah

Local Affiliations

1. Amboseli Court Limited (http://www.amboselicourt.com) – Mr. Patrick Munene, Operations Director 2. Cedarwood Hotels and Resorts Investments Company Limited (http://www.whiterhinohotel.com) – Mr. Patrick Munene, Operations

Director

3. Savvprint Limited – (http://www.savvprint.co.ke) – Ms. Wanjiku Munene, Managing Director 4. Maina & Maina Advocates (http://www.mainadvocates.com) – Mr. Martin Maina, Managing Partner 5. Kenya Commercial Bank, S&L Mortgage Division (http://www.kcbbankgroup.com/) – Ms. Virginia Kamau, Senior Relationship Manager

6. Housing Finance, (http://www.housing.co.ke) – Mr. Frank Ireri, Managing Director 7. Barclays Bank of Kenya Limited, (http://www.barclays.com/africa/kenya/) – Mr. Adan Mohammed, Managing Director

Government Affiliations

1. Office of the President (http://www.statehousekenya.go.ke/) – His Excellency, The President & Commander in Chief of the Defence Forces of Kenya, Hon. Mwai Kibaki C.G.H., M.P.

2. Cabinet Office (http://www.cabinetoffice.go.ke) - Permanent Secretary, Secretary to the Cabinet and Head of Civil Service, Mr. Francis Kimemia

3. Ministry of Finance, Republic of Kenya (http://www.treasury.go.ke) – Permanent Secretary, Mr. Joseph Kinyua

4. Ministry of Energy, Republic of Kenya (http://www.energy.go.ke) – Permanent Secretary, Mr. Patrick Nyoike 5. Kenya Wildlife Services (http://www.kws.go.ke) – Director, Mr. Julius Kipngetich 6. The Kenya Power and Lighting Company Limited (http://www.kplc.co.ke) – Managing Director, Engineer Joseph Njoroge

Global Partners

1. Knight Investments (http://www.knightinvestments.org)

Knight Investments works as a private compliance firm to invest company assets on the behalf of promoting a vibrant community, low income

housing, humanitarian causes, renewable energies, real estate developments, and project compliance solutions. Knight Investments are our strategic Joint Venture partners in our real estate projects.

2. The Carbon War Room (http://www.carbonwarroom.com)

The Carbon War Room harnesses the power of entrepreneurs to unlock gigaton-scale, market-driven solutions to climate change. We are affiliated to the Carbon War Room through its Board Members.

3. KMR Infrastructure (http://kmrinfrastructure.com/)

http://www.amboselicourt.com/

http://www.whiterhinohotel.com/

http://www.savvprint.co.ke/

http://www.mainadvocates.com/

http://www.kcbbankgroup.com/

http://www.housing.co.ke/

http://www.barclays.com/africa/kenya/

http://www.statehousekenya.go.ke/

http://www.cabinetoffice.go.ke/

http://www.treasury.go.ke/

http://www.energy.go.ke/

http://www.kws.go.ke/

http://www.kplc.co.ke/

http://www.knightinvestments.org/

http://www.carbonwarroom.com/

http://kmrinfrastructure.com/


KMR Infrastructure removes the complexity and high costs from distributed renewable energy generation. Corporate and institutional networks like

telecom towers or hospitals have dispersed sites with low power consumption that require considerable financial and operational resources to ensure uninterrupted power supply. KMR Infrastructure is our Joint Venture partner in our Biomass projects.

4. Grupo Tri Continental, Mexico

TriContinental is our working partner in deal flow management. It is a private professional services firm who we work with to access global investment opportunities.

5. Neuberger Berman (http://www.nb.com)

NB is a professional Asset Management Firm with over $200Billion USD AUM. They provide discretionary asset portfolio management

Management Policies

Treasury Management

Treasury Management can be defined as the efficient management of liquidity and financial risk in the business of TEMIC ENERGY. This section seeks to explain the main functions of treasury management and to provide an overview of working capital management. Most business decisions have implications for cash flow and risk, both of which are of direct relevance to treasury management. This area has become a major concern in

businesses, particularly the manner in which companies manage exposure to currency and other risks. The size, structure and responsibilities of an organization’s treasury will vary greatly with other organizations. The key factors are corporate size,

listing status, degree of international business and attitude to risk. For most companies, the treasury department is simple, typically with a distinction between funding (cash and liquidity management, short-term financing and cash forecasting) and treasury operations (financial risk management and portfolio management).

It will be the responsibility of the Board of Directors to set the aims, policies, authorization levels, risk position and structure of the treasury. It is the Board that will establish the degree of treasury centralization, whether it will be a profit center or cost center, the extent to which TEMIC ENERGY

will be exposed to financial risk and the level of liquidity desired. Risk Management

The Chief Financial Officer will recognize the many types of risk to be managed. The following three areas will be common types of risks that must be addressed namely

1) Liquidity risk – managing corporate liquidity to ensure that funds will be in place to meet future debt obligations.

2) Credit risk – managing risks that customers will not pay. 3) Market risk – managing the risk of loss arising from adverse movements in market prices, interest rates, foreign exchange, equity and

commodity prices. Although every business must expose itself to risks in order to seek out profit, there are some risks that it cannot, and should not take. While the

risks of business can never be completely eliminated, they can be managed. It is to this end that risk management addresses itself and is thus defined as the process of identifying and evaluating the trade-off between risk and expected return, and choosing the appropriate course of action. The Chief Financial Officer plays a vital role in identifying, assessing and managing corporate risk exposure in such a way as to maximize the value

of TEMIC ENERGY and ensure its long-term survival. The Process of Risk Management

Risk management will take place through a process that will have three distinctive stages namely

1) Identifying risk exposure – before any attempt will be made to cover risks, the Chief Financial Officer will undertake a complete review of corporate risk exposure, including business and financial risks.

2) Evaluating risks – there will be various ways in which the risks of investments will be forecasted and evaluated. The decision as to whether the risk exposure should be reduced will depend on the corporate attitude to risk (i.e. its degree of risk aversion) and the costs involved. Hedging will take a position to reduce exposure to risk while speculation will take a position to increase risk exposure.

3) Managing risks – the Chief Financial Officer will manage risk exposure in four ways:

a) Risk retention – many risks, once identified, can be carried – or absorbed – by TEMIC ENERGY. The larger and more diversified TEMIC ENERGY’s activities, the more likely it will be able to sustain losses in some areas. There will be no need to pay premiums to market institutions when the risk can easily be absorbed by TEMIC ENERGY which may hold precautionary cash balances, or maintain lower than average

borrowing levels, in order to be better able to absorb unanticipated losses. b) Risk avoidance – some businesses prefer to keep well away from high-risk investments. Such risk-avoiding behaviour may be acceptable in the short term, but, ultimately, it will threaten TEMIC ENERGY’s competitiveness and survival.

http://www.nb.com/


c) Risk education – TEMIC ENERGY can reduce exposure to failure by doing the right things. Risk of project failure will be reduced by

careful planning and clear and concise management of the implementation process and clear plans for abandonment at minimum cost should the need arise.

d) Risk transfer – where a risk cannot be avoided or reduced and will be too big to be absorbed by TEMIC ENERGY, it will be turned into something else by selling or transferring it to a willing buyer. Risk can be transferred in three main ways. Diversification rarely eliminates all risk because most assets have returns positively correlated with the returns from other assets in the portfolio. Insurance seeks to cover downside risk.

Financial options are a form of insurance whereby losses are transferred to others while profits are retained. With hedging, TEMIC ENERGY may exchange, for an agreed price, a risky asset for a certain one. It will be a means by which TEMIC ENERGY’s exposure to specific kinds of risk may be covered. Similar hedges may be created for risks in interest rates, commodity prices and many more transactions.

Interest Rate Management

Every organization is exposed to a degree of interest rate risk. This occurs when changes in the interest rate affect an organization’s profits and/or the value of its assets and liabilities. The nature of the exposure depends on whether the organization is a net borrower or a net investor. The fi rst form of risk relates to changes in the yield curve over time and refers to differences in short and long term interest rates.

The Process of Interest Rate Management

The Chief Financial Officer will need to understand TEMIC ENERGY’s interest rate risk exposure, how it will likely change over time and, where any of these exposures will be compensating, how they will be netted off against each other. The process will involve identifying the expected future cash flows that will be exposed to interest rate fluctuations; specifying those interest rates beyond which steps will be taken to reduce exposure;

and reducing exposure by

Natural hedging – for example, an exposure to pay an interest rate on a loan will be partially offset by an investment linked to the same

or similar rate.

Fixing the interest rate – loans may be taken out at a fixed rate rather than a floating rate.

Interest rate swaps – whereby an arrangement will be made between two parties, TEMIC ENERGY & any other, to exchange interest

payments with each other over an agreed period.

Hedging contracts – where the Chief Financial Officer will have a variety of techniques available to reduce interest rate risk. The main

methods will be forward rate agreements (FRAS), interest rate futures, interest rate options, interest rate swaps and more complex methods such

as options on interest rate swaps (swaptions). Working Capital Management

One of the most important areas of management in TEMIC ENERGY will be the management of working capital, including liquidity management. Working capital will refer to current assets less current liabilities. Current assets will include cash, marketable securities, debtors and stock.

Current liabilities will be obligations that will be expected to be repaid within the year. Working capital management will therefore refer to the financing, investment and control of current assets within policy guidelines. The Chief Financial Officer will act as a steward of corporate resources and will need to devise and operate clear and effective working capital policies.

Liquidity management will be the planned acquisition and utilization of cash – or near cash – resources to ensure that TEMIC ENERGY is in a position to meet its cash obligations as they fall due. It will require close attention to be devoted to cash forecasting and planning. Any projected

cash shortfall may require the raising of additional finance, disposal of fixed assets or tighter control over working capital requirements in order to avoid a liquidity crisis. Various ratios will be useful in assessing corporate liquidity, the following being the most commonly employed:

1) The current ratio will be the ratio of current assets to current liabilities. A high ratio (relative to the industry) would suggest that TEMIC ENERGY is in a relatively liquid position.

2) The quick or acid test ratio will recognize that stocks may take many weeks to realize in cash terms. Accordingly, it will be computed by dividing current liabilities into current assets excluding stock.

3) Days cash-on-hand ratio will be found by dividing the cash and marketable securities by projected daily cash operating expenses. Daily cash operating expenses will be based on the projected cash flows from the cash budget.

Working Capital Policy The Chief Financial Officer will need to ensure that TEMIC ENERGY operates sound working capital policies. These policies will need to cover such areas as the levels of cash and stock held, and the credit terms granted to customers and agreed with suppliers. Successful implementation

of these policies will influence TEMIC ENERGY’s expected future returns and associated risk, which in turn, will influence shareholder value. 1) Failure to adopt sound working capital policies may jeopardize long-term growth and even corporate survival.

2) Failure to invest in working capital to expand production and sales may result in lost orders and profits.

3) Failure to maintain current assets that may quickly be turned into cash may affect corporate liquidity, damage TEMIC ENERGY’s credit rating and increase borrowing costs.

4) Poor control over working capital will be a major reason for overtrading problems.


In establishing the planned level of working capital investment, management will need to assess the level of liquidity risk i t will prepared to accept,

risk being defined as the possibility that TEMIC ENERGY will not be able to meet its financial obligations as they fall due. Working Capital Costs

Managing working capital will involve a trade-off not only between risk and required return, but also between costs that increase and costs that fall with the level of investment. Costs that increase with additional investment will be termed carrying costs, while costs that fall with increases in

investment will be termed shortage ratio. Cash Management

In financial management, the importance of cash is more significant than profit since cash plays a vital role in the process of managing a business operating in uncertain circumstances. While some cash will be in the form of notes and coins, or bank accounts giving immediate access, much will

be invested in short-term bank deposits giving some kind of return. There will be a number of reasons why TEMIC ENERGY will hold sums of money in cash or short-term deposits when the return is relatively small.

1) Transactions Motive – where day-to-day inflows and outflows do not match perfectly: cash serves as a buffer to ensure that transactions occur at the appropriate time. Cash balances will be particularly important where the patterns of cash inflows and outflows differ greatly e.g. where the business is highly seasonal.

2) Precautionary Motive – where cash flows will be often difficult to predict. Cash balances will be required to cater for unanticipated cash disbursements.

3) Speculative Motive – where cash allows TEMIC ENERGY to be highly flexible and to exploit wealth-creating opportunities more easily. Large cash balances will be common among acquisitive companies where a cash alternative to a takeover is required.

4) Compensation Balances Motive – where banks will provide a range of financial services, many of which will be “free” as long as TEMIC ENERGY keeps a positive bank balance.

Even in TEMIC ENERGY, it will make sense to centralize cash management.

1) It will allow the Chief Financial Officer to operate on a larger scale, which should lead to more competitive interest r ates and lower staffing costs.

2) Specialist staff will be employed to work in cash management 3) Negative cash flows from one operating unit may be offset by positive cash flows from others, thus avoiding additional financ ing and loan-

raising costs. This may well mean that the overall level of cash required to cover unanticipated cash shortfalls will be reduced. 4) Banking operations will become faster and more efficient, giving rise to advantageous banking arrangements.

Cash Flow Management

It will be prudent for TEMIC ENERGY to prepare a cash flow statement within its published accounts as a way of moving away from an over-reliance on profits. For Example, a summarized cash flow statement of a sample company, Worthington Ltd. is given below.

The starting point in the statement is the company’s ability to generate cash from its operations. A shareholder reading the cash flow statement can identify how the change in cash position over the year has been achieved. For 2011, Worthington achieved a positive cash flow of $2,443,000 before financing. However, the requirement to repay loans resulted in a decrease in cash in the year of $1,379,000.

2012 2011 $000 $000

Cash flow from operating activities 16,218 29,693

Returns on investment and servicing of finance (4,330) (3,978) Taxation (122) (2,872)

Capital expenditure and financial investment (4,837) (4,297) Equity dividends paid (4,486) (4,297)

Cash inflow (outflow) before use of liquid resource And financing 2,443 18,520

Management of liquid resources (264) 11,596

Financing Issue of shares 179 569

(Decrease) / increase in debt (3,737) 10,529


Decrease/increase in cash in the period (1,379) 4,174

Cash Flow Forecasting The cash flow forecast or cash budget will be the primary tool in short-term financial planning. It will help identify short-term financial requirements

and surpluses based on TEMIC ENERGY’s budgeted activities. Cash budgeting will be a continuous activity with budgets being rolled forward, usually in weeks or months, over time. Preparation of the cash budget will involve four distinct stages:

1) Forecast the anticipated cash inflows – the main source of cash is usually sales, and the sales forecast will therefore be the primary data source. Sales can be divided into cash sales and credit sales, the timing of the cash flow arising from the latter depending on the agreed credit terms.

2) Forecast the anticipated cash outflows – the principal payment will be generally the payment of trade purchases. Once again, the credit period taken must be allowed for. Other cash outflows will include wages and salaries, administrative costs, taxation, capital expenditure and

dividends. 3) Compare the anticipated cash inflows and outflows to determine the net cash flow for each period.

4) Calculate the cumulative cash flow for each period by adding the opening cash balance to the net cash flow for the period.

Value-Based Management Value-based management will be a managerial approach in which the primary purpose will be long-run shareholder wealth maximization. The

objective of TEMIC ENERGY, its systems, strategy, processes, analytical techniques, performance measurements and culture will have as their guiding objective shareholder wealth maximization.

Shareholder-wealth maximization will be the superior objective in TEMIC ENERGY since it will be operating in a competitive global market for many reasons. There will be three primary strategic determinants of value creation namely:

Industry Attractiveness – the economics of the market for the product (Real Estate) will have enormous influence on the profitability of TEMIC ENERGY. In some industries, firms have few competitors, and there is low customer buying power, low supplier bargaining power and little threat from new entrants. Here the industry will likely be attractive in terms of the returns accruing to the existing players, which will on average exhibit a

positive performance spread. Other product markets are plagued with overcapacity, combined with a reluctance on the part of the participants to quit and apply resources in another product market. Markets of this kind tend to produce negative performance spreads.

Competitive Resource Strength – identifying a good industry will only the first step. A value-based company, such as TEMIC ENERGY will aim to beat the average rate of return on capital employed. Many successful companies have stopped seeing themselves as bundles of product lines and business. Instead they look at the firm as a collection of resources. To establish a thorough analysis of TEMIC ENERGY’s resources, a

classification system known as the TRACK System will be used and it will classify the resources into five categories namely a) Tangible – these will be assets that can be physically observed and will be often valued (or mis-valued) in a balance sheet. They will

include real estate, materials, production facilities and patents. b) Relationships – over time TEMIC ENERGY will form valuable relationships with individuals and organizations that will be difficult or

impossible for a potential competitor to emulate. c) Attitude – this will refer to the mentality of TEMIC ENERGY. It will be the way in which TEMIC ENERGY views and relates to the world.

A team may consist of players with the best technique in the business or with a superb knowledge of the game, they may be the fastest and the most skilful, but without a winning attitude they will not succeed. There must be a will to win. A positive attitude can provide a significant competitive edge for TEMIC ENERGY.

d) Capabilities – these will be derived from TEMIC ENERGY’s ability to undertake a set of tasks. Capability will be used for the combination of a number of skills.

e) Knowledge – this will be the awareness of information and its interpretation, organization, synthesis and prioritization to provide insights and understanding. The retention, exploitation and sharing of knowledge will be extremely important in the achievement and maintenance of

competitive advantage of TEMIC ENERGY. Life-cycle stage of value potential – a competitive advantage in an industry will not lead to superior long-term performance unless it provides a SUSTAINABLE competitive advantage and the economies of the industry remain FAVOURABLE. The longevity of the competitive advantage can

be represented in terms of a life cycle with four stages: development, growth, maturity and decline. Our Supply Chain Management System

Our supply chain management system is concerned with managing our network and its flow of information, resources and services through the network. The value of a supply chain management system in the Company allows for the benefit of vertical integration without long-term overhead

and inherent inflexibility that comes from trying to manage all activities from unprocessed information to final delivery under the umbrella of one organization. This allows the Company to continue to do what it is good at and to form supply relationships which have sufficient duration to allow for the development of understanding of how to do things better. It is always recognized, though, that as the market demands change, some of

these relations cease to be effective.


We have a valid interest in the concept of supply chain management since it provides the Company with substantial control of the channels to

market. The key elements of our supply chain management system includes

1. Management of the supply chain in its entirety, using measures which assess the performance of the total chain; 2. Development of intermediary partnership with the expectations of sharing the benefits of increased co-operation over time;

3. Reduction of the number of suppliers in the chain, with an increase in single or sole suppliers, allowing resources to be focused on strategic issues; 4. Increasing interchange of information, possibly including long-term demand forecasts, financial costs, process improvements, and

research and development; 5. Possibility of reallocating activities to the most effective position in the supply chain.

The benefits that the Company expects to achieve from this approach are as follows 1. Reduction in the total cost of inventory held by the chain as a whole;

2. Reduction in administrative overhead involved in managing multiple relationships; 3. Collaboration in scheduling and in process improvement leading to higher service levels and quality improvement; 4. Faster response to changes in market demand.

Principles of Our Supply Chain

The primary aim of our supply chain is to reap the benefits of reduced costs as well as a change in organizational culture that believes in the possibility of continuous improvement throughout the supply chain. The essence is to drive out any waste of resources that create no value for

either the Company or its target market. The following principles define the Company’s supply chain management system

1. Specifying value requires that value be defined by the target market. It is too easy to revert to a producer mentality that assumes that if the product is good, it must represent value;

2. Identifying the value stream requires that activities at particular points in the chain that create no value in the market are identified; 3. Creating flow requires that work flows continuously and smoothly through a pipeline without stopping. Any discontinuities in the flow of work create the possibility for errors, they slow down the response to market demand, and create a requirement to manage the work-load which

could be avoided; 4. Pulling and not pushing requires that operational schedules be governed by demand pull rather than production push. Pull systems are essentially replenishment systems working on the basis of sell one, make one;

5. Striving for perfection requires that supply chain management be significantly and continuously improved and developed. Organizational Strategy

All great organizations have a clear, compelling strategy. They have a “reason for being” which energises the organization and defines the word “achievement”. In having a clear strategy, managers know what initiatives to approve and those to reject, customers know wha t to expect,

employees know what to provide and how they have to deliver the product or service. If employees don ’t know what TEMIC ENERGY’s strategy is, or each person has their own view, achievement is going to be hard to come by.

A strategy provides the intellectual frameworks and conceptual models that allow managers to identify opportunities for bring ing value to customers and for delivering that value at a profit or within the budget. The role for the Chief Operational Officer will be to help create and deliver that value by contributing to the strategy debate and by developing the operation, its resources, people and processes, to provide for the future success of

TEMIC ENERGY. A strategy is as good as its implementation. TEMIC ENERGY will need to call on a wide range of abilities in order to create an effective strategy

from the visionary thinker at director level, through the interpretation of this strategy into policies and plans by senior and middle management, to the involvement in and ownership of the strategy by front-line staff. In this sense, three major components of strategy are very real issues for the Chief Operational Officer namely market and competitive analysis, strategic choice and implementation.

Research into strategy development asserts that effective strategies generally are evolutionary rather than revolutionary. A lthough there will be often refined strategic analysis embedded in strategic formulation, the real strategy will evolve as internal decisions and external events combine to

form a widely shared consensus for action among key members of the management team. TEMIC ENERGY will need to have overarching strategies in place to try to prevent non-aligned and disjoined activities and decisions. A strategy will be usually seen in market terms as TEMIC ENERGY’s set of plans and policies by which it aims to meet its objectives. A strategic plan will

harness the various aspects of TEMIC ENERGY and ensure that they support each other and are consistent with the direction indicated by the drivers of change.

Five critical elements of strategy will be: 1) Corporate Objectives – these will provide the targets or goals for the strategy, if a strategy is a set of plans or policies to meet

objectives, there will need to be a statement of those objectives. In part they will provide the motivation for change but also set out the size and speed of change. Such a statement will be an important step in making the change public so that employees are made aware of what will be expected of them. In essence, the objectives will set out the parameters for change.


2) Environment – TEMIC ENERGY will operate in a context and that environment will need to be understood to assess not only the

opportunities that it might afford but also the likely response of other organizations and the reaction of customers to change. 3) Service Concept – the service concept will identify the proposed nature of the business, the service or product in mind that TEMIC

ENERGY wishes to create. This will help TEMIC ENERGY focus on the value that it can provide to customers. 4) Performance Objectives – performance objectives will provide the means by which a strategy will be translated into operations

language, setting out the priorities for the operation. Together with the business concept they will specify the task for operations. 5) Operation – the operation – its people, processes, structure, performance measurement systems, supply chains, etc. – may have to be

developed and changed to implement the strategy. Also the operation will provide the impetus for change through its current, or potential, capability.

However, strategy development will not be a one-off activity. TEMIC ENERGY will need to respond to the main forces of change that operate upon it especially the external and internal environments. As a result, a strategy will require continuous assessment and, if necessary, amendment. Strategies may be intended, formal or planned. Alternately, they may either emerge from an intended strategy, which was not realized, or emerge

not having been part of a formal planning process. Strategy Formulation & Development

Whether a strategy will be planned or emergent, it will usually be driven by some force, which may be external or internal. The internal forces or strategy drivers might be existing operational capabilities, or new skills or technologies that have become available or been developed. The

changing needs of stakeholders of TEMIC ENERGY may also act as a force for change – pressure from shareholders, political masters, management or employees for an increased share value, change in direction, reduced costs or improved services, etc. external forces or strategy drivers might include the activities of competitors or changing needs of customers. There will be four main strategy drivers :

1) Operations-led Strategy – opportunities for change may arise from new developments from within TEMIC ENERGY such as new services, skills, technologies or processes. The availability of technology provides opportunities for new delivery channels for many organizations

requiring a rethinking of strategy, including how to manage, market and finance such developments. 2) Externally-driven Strategy – modifications to strategy may be driven by changes in TEMIC ENERGY’s external environment, either

actual or anticipated. Such changes might include new competitors entering the marketplace or the strategic development of competitors through different positioning or service developments, or the changing needs of customers who require a different service concept, wh ich may be the result of the activities of the competition, or the loss of customers because their needs are not being met.

3) Corporate-led Strategy – the impetus for change may come from TEMIC ENERGY’s executive, driven by a desire or need by its stakeholders for a greater return on assets, expansion, retrenchment, diversification, etc.

4) Visionary Leadership – any one of the above drivers may be sufficient to begin the cycle of strategy formulation and development, though clearly the major impact on the strategy formulation process is visionary leadership.

This will be usually provided by an individual, usually at corporate level though possibly a senior figure within operations, marketing or finance, who will take responsibility for strategy development and will act as the linchpin in the wheel, pulling all the forces together and helping them move in the

right direction. Visionary leaders understand the current organization and its service, its processes, people and culture and are able to create an attractive vision

for the future. They are also able to communicate that vision and enthuse others, and thus galvanize the whole organization to bring about the realization of that vision. For TEMIC ENERGY, Visionary Leaders will be the key to its Strategy Formulation & Development affairs.

Performance Business Objectives Concept

Operation Visionary Environment Leadership

Corporate Objectives

Sustainable Strategy

Without constant appraisal of the changes to the internal and external environment and consequent adjustments to strategy, TEMIC ENERGY may decay. Strategy therefore will involve the process of continually checking TEMIC ENERGY’s plans for direction, progress and cohesion in terms of the continually changing environment. Finally, many sustainable strategies fail because they are under-resourced namely, the managers do not

have the capability to sustain them. If this is so, TEMIC ENERGY must recruit or buy this ability. Another problem is that TEMIC ENERGY may not have the capacity to manage the process and maintain ‘business as usual’. The implication for the Chief Operational Officer is that he and his


operations teams must dedicate resources to managing sustainable strategy through any period of significant change if ‘business as usual’ is to be

maintained to an acceptable standard. Our Human Capital Management Policy

Our Human Capital Management Policy is such that its Human Capital has been designed and developed as a dynamic system in order to provide a sound implementation process to TEMIC ENERGY through policies and procedures that provide for dynamic administration and management of

TEMIC ENERGY’s professional staff. The Human Capital system represents the rules and regulations, as well as the fundamental rights and responsibilities of TEMIC ENERGY

employees at all levels. The Human Capital system is therefore a result of such rules and regulations and represents as well as interprets the policies and procedures,

through which TEMIC ENERGY’s best interest to pursue a corporate vision in Human Capitals, that will give it an unequalled reputation as a caring entity where generation after generation of people will work and realize their full potential in their career paths and where staff will be given freedom to become who they are in the world.

TEMIC ENERGY’s purpose for having a dynamic administration and management for its Human Capitals as well as a comprehensive Human Capitals system therefore comes from its primary goal of being a world-class employer and providing one of the world’s greatest workplaces for its

staff. For TEMIC ENERGY to maintain its world-class employment status, as well as provide a world-class workplace it will require to establish a

sustainable balance between the work and personal needs of its staff. TEMIC ENERGY aspires to be a leading world-class employer by carefully tending the architecture of its workplace and pursuing an ambitious goal

of developing a socially responsible workforce more seriously than its counterparts in the world and issuing several exemplary annual reports assessing its performance as a corporate cosmopolitan.

TEMIC ENERGY’s dependency on what is called intellectual capital is the key to its success as a world-class employer. It proposes to employ people on the partial basis of personal character and right attitude and then train them for competence with the appropriate

skills for their career needs. So many of TEMIC ENERGY’s staff may come with no academic or professional background and then they are given a chance to learn and they

are encouraged to develop their career pursuits. In order to maximize the utilization of intellectual capital, TEMIC ENERGY will have a formal system of appraising staff with a view toward aligning

their personal and corporate goals. Everyone will be evaluated on the strength of their productivity rather than their position; on their performance rather than their papers so that what

keeps TEMIC ENERGY’s staff going is the team culture, a sense that their workplace is a meritocracy and not where you get ahead because of nepotism or academic background.

In many corporations and organizations, there is a trend in staff recruitment known as the “law of diminishing expertise”. Simply stated, executives tend to recruit people who have abilities and expertise beneath their own. As a result, when the corporation grows and

more people are hired, the number of people with lower expertise far exceeds the executives with higher expertise. In order to achieve its goals of being a world-class employer as well as having a value added workforce, TEMIC ENERGY intends to pursue the

reverse of this situation through what is referred to as the “law of distinguishing expertise”. This means that TEMIC ENERGY, will be striving for a new dynamic of doing things namely recruiting and raising corporate giants.

This is based on the belief that developed characters usually cause corporate underdevelopment.

It is toward this end that TEMIC ENERGY’s staff recruitment policies consist of two principles namely,

Making staff recruitment the responsibility of highly developed characters

Making character development the distinguishing factor in staff recruitment Since great workplaces run on the energy generated by a loyal and committed workforce, TEMIC ENERGY intends to be a world leader by ensuring that its staff members are provided with a state-of-the-art work environment and will blend a socially stimulating atmosphere with a modern office

facility managed on a highly professional interactive level. There will be a great deal of staff empowerment with zero tolerance on just following orders where staff members will debate extensively on policies

before they are adopted. Unlike other corporations, where advancement is typically moving up the ladder, TEMIC ENERGY will have something that is the reverse.

For instance, a senior staff may move to become a specialist staff just to expand his/her knowledge and skills for a particular position at that level.

TEMIC ENERGY’s Service Structure


TEMIC ENERGY’s Service Structure has been designed and developed in a manner that enables the Company to operate through an effective,

efficient and equitable management structure with minimum administrative complexity, in order to provide all its products and services in an atmosphere where bureaucratic practice is virtually non-existent and where professional protocol is subjected to a dynamic performance-based system of service responsiveness.

TEMIC ENERGY’s Service Structure has also been established in this manner in order to provide a cost-effective payroll system by ensuring the non-existence of duplicated roles and responsibilities through a qualification structure of meritocracy.

This has resulted in the Staff identification and classification systems.

TEMIC ENERGY’s Service Structure constitutes two aspects through which the Staff members are classified and identified namely Service Groups and Service Levels.

The Service Groups classify the Staff in three categories mainly for the purpose of payroll congruence namely Contract Staff, Career Staff and Corporate Staff.

For the purpose of functional congruence TEMIC ENERGY’s staff members are identified as Service Levels, which are classified into five categories, namely Subordinate, Specialist, Support, Strategic and Senior staff.

Staff Organization Service Groups: There will be three main Service Groups namely Contract Staff, Career Staff and Corporate Staff.

1) Contract Staff consist of those who will have worked in the Company for up to two years and will be usually referred to as entry-level staff. 2) Career Staff consist of those who will have worked in the Company for two to five years and will be usually referred to as expert level staff. 3) Corporate Staff consist of those who will have worked in the Company for at least five years or more and will be usually referred to as elite level

staff. Service Levels: There will be five main Service Levels namely Subordinate Staff, Specialist Staff, Support Staff, Strategic Staff and Senior Staff.

1) Subordinate Staff will include cleaners, messengers, drivers, guards, aides, office assistants, clerks, carpenters, masons, casuals, etc 2) Specialist Staff will include professional and technical staff such as secretaries, consultants, accountants, auditors, technicians, administrators, architects, civil and mechanical and electrical engineers, quantity surveyors, land surveyors, etc

3) Support Staff will include team leaders and branch managers 4) Strategic Staff will include executives and senior managers such as corporate managers, general managers and country managers, 5) Senior Staff will include senior executives such as directors and officers

Staff Recruitment

Recruitment of all staff shall be made on the basis of equal opportunity irrespective of gender, race, social or economic status. Personality and character shall be the Company’s determinant factors in staff recruitment and selection. Professional competence will be considered after character appraisal and the successful candidates will undergo an orientation program. All new staff shall be contracted for a year with a probation period of

three months during which their performance will be appraised to determine their suitability and potential. All staff under probation shall normally be entitled to a portion of their due salary and only after confirmation of appointment at the determination of the probation period shall they become entitled to their full pay. All staff must have their dossiers submitted to the Company’s HR Office immediately their appointment is confirmed and

must have them updated every six months. Staff Leave of Absence

All staff shall be entitled to an annual leave on completion of one year’s service. The Company’s HR Office will issue dates for leave days for every staff member at the beginning of each year as approved by the Nominating & Governance Committee. All staff will be required to observe the dates

for their leave days and their leave allowances will be paid to them while going for leave. All staff shall be entitled to an ad hoc leave of absence upon approval of their application for such leave. All staff shall be entitled to a leave of sickness and any reimbursement requested shall be upon submission of a certificate of invalidity signed by a recognized medical authority.

All staff shall be entitled to a leave of compassion for the purpose of attending to personal mishaps such as illness or demise of close relations. All staff with dependants shall be entitled to a childcare leave and staff with pa/maternal needs shall be entitled to a pa/maternity leave with full pay and

a term with half pay. In addition such staff may work half-day for up to an agreed term after the expiration of the pa/maternity leave with full pay provided that the duty station does not provide child care facilities. In case such facilities are available, only the pa/maternity leave will be admissible for leave of absence.

Staff Determination All staff shall be entitled to at least one month’s written notice of termination of services or one month’s salary in lieu of notice provided that

termination of service shall not have been caused by disciplinary action in which case the staff member may be summarily dismissed. All staff due for retirement shall be entitled to their terminal benefits. Voluntary retirement shall be considered at the minimum age of 40 years and statutory retirement shall be considered at the minimum age of 50 years except for senior staff, which shall be 60 years. All staff members who have worked

for at least a year in the Group shall be entitled to a Certificate of Service upon determination of their services provided they were not summarily dismissed.

Staff Affairs & Welfare All staff shall be entitled to a hearing of their grievance by the Company’s HR Office upon application at the said office and the

Grievances/Discipline Procedures shall be followed. All staff affairs shall be co-coordinated by the HR Office concerned which shall establish and maintain continuous interactive programs in order to ensure satisfaction of staff in identifying, resolving and handling issues related to their welfare,


general working and living conditions and other employment issues. All staff shall be entitled to Company support in relation to career development

opportunities in accordance with the annual staff appraisals through academic advancement, seminars, workshops, exchange programs, membership in professional bodies and scholarships. Extensive training opportunities shall be available to all staff members at the Company’s residential training center where the top brass shall spend a week every quarter involved in orientation or training activities.

Service Appraisal System

All staff shall be subjected to regular appraisal under the Company’s Service Appraisal System, which has been developed as the Company’s nervous system and its most important management tool. The SAS will be used to assess the performance and potential of a staff member and their strengths and weaknesses. The SAS will be also used to assess the Company’s work targets and standards in order to ensure that they are

communicated to all staff in concrete terms and also to ensure that all staff appraisals are meaningful and measurable. The SAS will detail work targets and standards to all staff in order to enable them achieve those targets and standards without much fuss. It will be the means by which the entire Company and its staff are appraised on the basis of their performance in relation to each other in order to identify areas of improvement and

review. Payroll Management

This section concentrates on performance-related pay, which will be used to reward all those from the boardroom to the shop/construction floor, both professional and manual staff of TEMIC ENERGY. The introduction of a performance-related pay system is an important system of

performance management. A performance related pay scheme is one, which provides for payments to individuals based entirely on their teamwork. The term performance related pay is often used to refer to all the many ways in which performance and pay will be linked in order to motivate

people at work to improve their performance. Performance-related pay will be distinguished as a system that seeks to enhance individual performance against specifiable criteria as well as taking individual characteristics into account. It will sometimes be referred to as merit pay and the rationable behind it will be that non-output related performance standards are introduced by providing goals for individual workers to strive for.

Performance-related pay will be the explicit link of pecuniary reward to individual, group or company performance (or any combination of the three). More specifically performance-related pay will link additional payments, over and above the remuneration, to an assessment of an individual’s

performance within a team environment. Each team will be set targets or objectives at the beginning of the month, quarter or year and will be then assessed on them at the end. Depending on how well it has performed, the team members will be awarded a sum of money, which will be paid on top of their salary. The advantage of performance-related pay will be that it will embrace the notion of both increases in pay and of the movement of

pay across and up pay bands and scales. Performance-related pay will link pay progression to a performance rating which will be carried out during a performance review at different times

and normally provide for an increase in base pay which will be governed by a rating against such criteria as performance and contribution outputs and skill and competence inputs. Commonly known as achievement bonus, this system will reward individual employees on the basis of ratings carried out on the team’s performance.

This team-based performance-related pay will operate through a formal performance management system, which will be used to establish the linkage between the performance of individuals as a team and the performance of the TEMIC ENERGY as a whole. The rationale for performance-

related pay will be to improve the performance of TEMIC ENERGY through motivating individuals to improve their performance through teamwork. This system will achieve its objectives through

1) Motivating all people in TEMIC ENERGY 2) Focusing attention on the key areas which will improve overall performance 3) Communicating information about the performance targets of TEMIC ENERGY

4) Helping TEMIC ENERGY become more results or performance focused 5) Supporting existing cultures or values, which are already performance, oriented 6) Emphasizing the importance of team work as well as individual effort

7) Improving recruitment and retention of high-quality employees 8) Ensuring that the pay bill varies in line with performance

A formal performance management system will very often determine the success of a performance-related pay scheme especially one in which individuals will agree on work targets or objectives and their performance will be assessed in the light of their achievement in relation to those targets. The quality of the links to be established between performance-related pay and formal performance management systems will be crucial to

the issue of raising organizational performance and therefore crucial to the success of performance-related pay systems if their declared objective is to improve organizational performance.

Clearly in such circumstances, the link between individual performance, team performance and organizational performance as a whole will be critical. For individual performance to impact positively on organizational performance the link between the two will need to be direct and self -evidently so. The team will be the only link that directly impacts both the individual performance and the organizational performance and its absence will have adverse effect to both the individual and TEMIC ENERGY. It will be through the team that the individual will relate with TEMIC

ENERGY and the reverse will be true, TEMIC ENERGY will only relate with the individual through the team. The assessment is carried out through Company’s Strategic Office, which will use appraisals of the team done by three different teams superior,

equal and subordinate to the team under assessment. These appraisals will then be scored and the HR Office will award the points as shown in the matrix below

The Achievement Matrix

Team Contribution Team Score Increment (%) Stars

Par Excellent 80 = 100 30 3


Excellent 60 = 79 20 2

Good 40 = 59 10 1

Fair 20 = 39 0 0

Average 0 = 19 0 0

Those individuals whose team performance will be outstanding will be awarded at least 30 per cent and those whose team performance exceeds

the targets may expect to be awarded at least 20 per cent. Those whose team performance will be just above the target range may expect to be awarded at least 10 per cent while those with lower team performance will be hardly worth giving anything.

Integral to the achievement awards will be a personal development plan, team building plan and a business focus plan. Formal performance review will take place twice every month and employees will be coached continually. At the formal reviews employees will receive feedback on their team performance and objectives may be revised in the light of changing priorities. Employees must also be made aware of the performance criteria and

the standards they have to meet. All documentation will be made available to the teams concerning their appraisal and final performance ratings so that they decide the best way in which they can improve their performance.

In the end, the team members will have to figure out the best method for improving their performance and to determine the problem among them. This will enable individuals to discipline and support each other for the common good and thereby enhance their integral contribution to the whole organization. However, the reality is that many people work together with other individuals but they are not necessarily teams. It will be therefore

important to understand the intrinsic nature of teams and team working. The members of a team will have the following characteristics that are integral to the team namely purpose, possession, preser vation, position,

price, process, production and play. Purpose means that they will have a coomon goal and purpose. Preservation means that they will have a common front and voice. Position means that they will have the same identity as that of the team. Price means that they will accept accountability for the other team members within their team and personally will undertake responsibility for the team’s performance. Process means that they will

have a common way for getting the desired results. Production means that they will have a common activity toward the desired results. Play means that they will have a common ground for meeting and interacting with each other.

Our Payroll System Our Payroll System will constitute one of the worlds most comprehensive pay packages. All staff members will be entitled to monthly salaries, which will include:

Basic Pay - 50% of Consolidated Pay p.m.

House Allowance - 40% of Basic Pay p.m.

Travel Allowance - 30% of Basic Pay p.m.

Duty Allowance - 20% of Basic Pay p.m.

Entertainment Allowances - 10% of Basic Pay p.m.

Tax Benefits - 30% of Consolidated Pay p.m.

In addition, all staff members will be entitled to annual benefits, which will include:

Medical Allowance - 120% of Consolidated Pay

Leave Allowance - 100% of Basic Pay

There will be an additional pay that will come through team performance where the staff members may earn up to 30% of their salaries. This will be determined by evaluating team performance through a team score with the number of team members. The score will determine the pay increment per month. If a team maintains a high score for a quarter, it will be awarded an increment according to the stars gained in that quarter. The

performance of a team will be determined by the members through the development of their skills, services and strategies toward the team’s synergy. Appraisals of each team will be carried out by a superior team, a similar team and a subordinate team simultaneously. These teams will be given the discretion to award points within the specified range while taking into account the performance of the team as a whole.

The pay package will be complemented by a substantial benefits scheme for all staff which will include medical benefits, terminal benefits, loan entitlements, imprest benefits, child care schemes, bonuses, paid up family vacations and tours which will be awarded as addi tional incentives for

performance growth. The medical benefits will include sickness allowances, chronic illness allowances and an annual medical allowance. The terminal benefits will include pension schemes, demise allowances and terminal illness allowances. The childcare schemes will include

pa/maternity allowances, day care facilities and child care allowances. Advance facilities will also be given to staff at pr eferential rates for emergencies, car purchase, home ownership and start-up capital. There will also be a comprehensive severance pay package that includes a lump-sum equivalent to three months’ gross pay and a career placement assistance program, which will incorporate a career development-training

schedule free of charge by TEMIC ENERGY. Our Board of Directors

Our Board of Directors consists of the principal promoters who are also the Directors with the primary role of directing the overall corporate affairs and ensuring that the Company operates effectively and efficiently. The offices of the Board are senior positions within the entire corporate setup

and call for a high level of integrity and maturity along with the ability to interact effectively and operate efficiently at the corporate level. Our Board is responsible for directing the Company through the appointment of Officers and Managers. The Directors are appointed by the shareholders on a yearly basis at the Annual Shareholders’ Meeting whereas the Officers are appointed by the Directors at the Annual Director’s Meeting which

follows immediately after the annual shareholder meeting. The officers hold an enormous amount of power and control over the affairs of our corporate business. Nevertheless, Our Board has the following

primary roles namely


1. Determine the vision and values that will be adopted at any given time and ensure that appointments of Executive Officers and Managers

are made to provide a blend of proficient professionals who can add value and competitive advantage to the existing corporate status. 2. Monitor and evaluate the work of Officers and Managers from time to time in order to ensure that the corporate strategic objectives are achieved economically, efficiently and equitably.

3. Act as the principal signatories of memorandums, accounts and have the final instance in the ratification of policies and procedures to be adopted from time to time.

Directors call meetings among themselves, sign contracts binding our Company to various obligations, conduct purchases and sales of various assets, and incur debts in the name of our Company. They appoint and terminate any Officer on a majority vote.

They regulate the sale and transfer of TEMIC ENERGY's equity including the price for purchase and sale and they control our Company's bank accounts, including who may or may not sign cheques. With that kind of power, the Directors of TEMIC ENERGY owe a greater accountability and responsibility to our Company.

The Directors of our Company need no formal qualifications although they may not put their own interests before those of the Company, may not make contracts (Other that service contracts) with the Companyt or any of its subsidiaries, and must declare any personal interest in work

undertaken by the Company or any of its subsidiaries. Duties & Responsibilities of Directors

The Duties of Directors of TEMIC ENERGY include, but are not limiting to,

1. Presenting to shareholders of the Company, at least annually, the accounts of the Company and a Board Report. 2. Keeping a register of Directors, officers, directors’ shareholdings and shares 3. Calling an AGM, sending all relevant documents to the Registrar of Companies and submitting a statement of affairs if the organization or

any of its subsidiaries is wound up. The Board Report

The Board Report of TEMIC ENERGY is an annual report by the Board to the shareholders forming part of TEMIC ENERGY’s accounts and the information it provides includes,

1. The principal activities of the organization and a fair review of the developments and position of the organization’s business with likely future developments including details of research thereof.

2. Significant issues on the sale, purchase and valuation of assets 3. Recommended dividends and transfers to reserves 4. Names of directors, officers and their interests in TEMIC ENERGY during the period

5. Employee statistics 6. Any political or charitable gift made by TEMIC ENERGY during the period 7. The remuneration of directors and officers.

The remuneration of directors consists of directors’ fees to them for being directors inclusive of stock options and expense allowances to cover their expenses incurred in the service of TEMIC ENERGY or any of its subsidiaries. Directors’ remuneration is disclosed in TEMIC ENERGY’s accounts

and is shown separately from any pension payments or compensation for loss of office. Board Chair – Mr. James Wanderi Kairu

The Board Chair is the principal promoter and as such the standard bearer with the primary role of maintaining an atmosphere of high morale. He reports to the Board at the Annual Board Meeting (ABM) and the Annual General Meeting (AGM) respectively. In a working capacity, he is the Chief

Executive Officer of TEMIC ENERGY. His functions include:

1. Preside at all meetings of the Board and oversee the general business of the Board 2. Preside at meetings of shareholders and calling such meetings

3. Having the final instance in the ratification of all corporate documents, partnership schemes, resolutions, fixtures paid to officers and other instruments except where an officer is required to ratify. 4. Have authority to perform any act that the Board authorizes and ratifies unless powers are restricted in TEMIC ENERGY’s Articles and

Regulations and may act as an ex officio member of all Standing Committees. 5. As a Board Chair, do anything else necessary in the ordinary cause of his duty to render value to TEMIC ENERGY’s overall objectives and achievement of its vision

Board Vice-Chair – Ms. Julia Wairimu Kamotho The Board Vice-Chair is the second principal promoter of TEMIC ENERGY and she reports to the Board at the Annual Board Meeting. In a working

capacity, she is the Chief Marketing Officer of TEMIC ENERGY. Her functions include:

1. Preside at meetings of shareholders and calling such meetings. 2. Counter sign all documents that the Board Chair is authorized to sign.

3. Perform any act that the Board authorizes and ratifies. 4. Act in the absence of the Board Chair.


5. As a Board Vice-Chair, do anything else necessary in the ordinary cause of her duty to render value to TEMIC ENERGY’s overall

objectives and achievement of its vision Board Adviser – Mr. Jigar Shah

The Board Adviser is the principal policy maker of TEMIC ENERGY with the general oversight of TEMIC ENERGY’s strategy development affairs and procedures. He reports to the Board as may be required by the Board Chair. In a working capacity, he is the Chief Operating Officer of TEMIC

ENERGY and is a registered Architect in the Republic of Kenya. His functions include:

1. Provide leadership and direct the articulation and formulation of corporate policy and strategy including setting the duties of Officers 2. Provide leadership in the development of TEMIC ENERGY’s strategies

3. Provide strategic advice to the Board and TEMIC ENERGY as a whole in corporate, business and organizational matters. 4. Design and propose strategies and policies to the Board to optimize the utilization of the group’s resources and meet TEMIC ENERGY’s stated objectives and evolving market.

5. As a Board Adviser, do anything else necessary in the ordinary cause of his duty to render value to TEMIC ENERGY’s overall objectives and achievement of its vision

Board Member - Director, Financial & Investment Management – Mr. Jigar Shah The Director, Financial and Investment Management is the principal financial and investment management Board Member with the general

oversight of TEMIC ENERGY’s financial and investment management affairs and procedures. He reports to the Board and his functions include: 1. Exercise general oversight of TEMIC ENERGY’s financial and investment management activities

2. Provide leadership in the development of TEMIC ENERGY’s Board 3. Continually develop a financial and investment management policy framework founded on a sound risk-averse fiscal policy 4. Direct the management of TEMIC ENERGY’s financial and investment management systems & structures

5. Represent the best interests of TEMIC ENERGY at all financial and investment management levels and engagements 6. As a Board Member, do anything else necessary in the ordinary cause of his duty to render value to TEMIC ENERGY’s overall objectives and achievement of its vision

Board Member - Director, Operations Management – Mr. James Wanderi Kairu (Acting)

The Director, Operations Management is the principal operations management Board Member with the general oversight of TEMIC ENERGY’s operations management affairs and procedures. He reports to the Board and his functions include:

1. Exercise general oversight of TEMIC ENERGY’s operations management activities 2. Provide leadership in the development of TEMIC ENERGY’s Board 3. Continually develop an operations management policy framework founded on a sound risk-averse fiscal policy

4. Direct the management of TEMIC ENERGY’s operations management systems & structures 5. Represent the best interests of TEMIC ENERGY at all operations management levels and engagements 6. As a Board Member, do anything else necessary in the ordinary cause of his duty to render value to TEMIC ENERGY’s overall objectives

and achievement of its vision Board Secretary – Mr. Martin Maina, Advocate

The Board Secretary is the principal legal officer with the general oversight of TEMIC ENERGY’s legal affairs and procedures. She is a registered Lawyer in the Republic of Kenya and in a working capacity, she is the Chief Legal Officer of TEMIC ENERGY.

She reports to the Board and her functions include:

1. Exercise general oversight of TEMIC ENERGY’s legal activities and documentary quality 2. Provide leadership in the development of TEMIC ENERGY’s Board 3. Direct the management of TEMIC ENERGY’s archives, records and registers

4. Direct the drafting, vetting and negotiating of TEMIC ENERGY’s legal instruments 5. Act as TEMIC ENERGY’s principal compliance officer and ensure that TEMIC ENERGY’s regulatory articles and statutory instruments are compliant with governmental legislation

6. Keeping corporate books and having charge of TEMIC ENERGY’s seals 7. Preparing shareholders lists for annual meetings 8. Maintaining and recording entries in stock ledger 9. Countersigning certain corporate documents and instruments

10. As a Board Member, do anything else necessary in the ordinary cause of her duty to render value to TEMIC ENERGY’s overall objectives and achievement of its vision

Board Committees The Board Committees are primarily responsible for assisting the Board in carrying out investigative reports and studies in TEMIC ENERGY. They

act as effective overseers of the reporting process and control systems of TEMIC ENERGY. They review and recommend management programs to be established and monitor compliance with TEMIC ENERGY’s code of conduct.

The Board Committees include an Audit & Finance Committee, a Technical Review Committee and a Nominating & Governance Committee.


Audit & Finance Committee

Audit & Finance Committee – The Audit & Finance Committee is made up of the Chief Finance Officer, the Finance Manager, the Chief Accounts Manager and at least two Directors or their nominees and is presided over by a Director.

The Audit & Finance Committee reviews quarterly and annual financial statements particularly on change of accounting and finance policy, major changes in the audit system and in regard to compliance with accounting standards. The Committee also meets with our external auditors before commencement of audit to review the nature and scope of audit and review any communication between external auditors and management.

Technical Review Committee

Technical Review Committee – The Technical Review Committee is made up of the Chief R&D Officer, Chief Operating Officer and Chief Legal Officer, Chief Investments Officer and their corresponding Managers whenever necessary.

The Technical Review Committee investigates all the technical aspects of any issue that is presented to it by the Board of Directors, especially on Investments & Risks Analysis.

Nominating & Governance Committee Nominating & Governance Committee – The Nominating & Governance Committee is made up of the Chief Executive Officer, the Chief Operating

Officer, the Chief Legal Officer and any Director(s) of TEMIC ENERGY. It is responsible for the formulation of organizational principles and values as well as acting as the search body in the appointment of certain

personnel as may be required by the Board of Directors of TEMIC ENERGY. It also considers the appointment of auditors and audit fees and undertakes any other issue as may be directed by the Board including regular reviews of the internal control systems of TEMIC ENERGY.

Our Officers The Officers are primarily responsible for the formulation of policies and strategies for meeting their respective corporate objectives.

They exercise leadership and governance through dynamic decision making processes in directing the corporate vision and maintain the corporate values while monitoring the implementation of strategies, policies, management performance and corporate business as a whole. They regularly

review the implementation process through which the corporate policies and procedures are executed in order to maintain effective and efficient internal control systems.

Unauthorized legal acts performed by the Officers in their respective capacities are ratified subsequently by the Board. The Officers constitute the Management Board and include a Chief Executive Officer (CEO), a Chief Operating Officer (COO), a Chief Finance

Officer (CFO), a Chief Business Officer (CBO), a Chief R & D Officer (CRDO), a Chief Legal Officer (CLO) and a Chief Investments Officer (CIO). The Officers are appointed by the Board to carry out the day-to-day management of TEMIC ENERGY.

They are appointed at an annual meeting of the Board and may be discharged from office by an ordinary resolution of the Board, whether or not they have a service contract in force.

The Officers owe duties of honesty and loyalty to the Board (fiduciary duties) and a duty of care.

There are three classes of duties that Officers have in TEMIC ENERGY namely fiduciary duty, duty of care and duty of loyalty. Fiduciary Duty

Fiduciary Duty: This means that our Officers act at all times in the best interest of TEMIC ENERGY and its shareholders. It means that they have to act for the good of TEMIC ENERGY as a whole as opposed to their own individual interests. The officers of TEMIC ENERGY have a higher duty

above themselves and failure to uphold this higher duty may result in personal liability. Duty of Care

Duty of Care: This means that our Officers do what a prudent business owner would be doing in regard to their own business. There are several ways to breach the Duty of Care namely,

1. Nonfeasance (doing nothing) where an Officer is only liable if the breach of duty causes a loss. For example, if the Officer omitted to do something which if done would have prevented a loss, there would be a breach of duty.

2. Misfeasance (doing something that loses money) where an Officer is only liable if s/he carries out an action or authorizes an action that causes a loss of money. In order to determine this breach, inquiry is made into whether s/he carefully reviewed the course of action, caught out other options and arrived at a decision supported by prudent judgment, and if so, s/he will not be in breach of duty.

Duty of loyalty

This means that our Officers have to act in good faith and with a reasonable belief that what they do is in TEMIC ENERGY’s best interest. There are several ways, in which Officers may breach their loyalty namely,


1. Interest in a Transaction where an Officer or one of his/her relatives enters into a deal with TEMIC ENERGY such as sale of property or

a loan. Such a deal will be annulled unless the Officer can show either, a. That the deal was fair to TEMIC ENERGY or,

b. That disclosure was made and approval obtained from a majority of disinterested Officers. 2. Competing Venture where an Officer competes directly or unfairly with TEMIC ENERGY. For example, an Officer cannot be on the

board of TEMIC ENERGY and start his/her such group or such of, any of its subsidiaries, without independent board approval. 3. Corporate Opportunity where an Officer usurps a business opportunity from TEMIC ENERGY. A corporate opportunity is anything

TEMIC ENERGY would be interested in pursuing. Before taking the opportunity, an Officer will have to inform the Board and wait for the Board to turn the opportunity down before proceeding. TEMIC ENERGY will pursue to be awarded damages for loss of a corporate opportunity or TEMIC ENERGY will compel the Officer to turn over the opportunity to TEMIC ENERGY.

Skills and Qualities of Our Officers Our Officers are senior executives and have a high standard of integrity and maturity. Our Officers have to have certain skills and qualities to

successfully function in their respective capacities and achieve the strategic objectives that they have set out. These skills and qualities include, but not limiting to:

1. Managerial skills such as motivational, organizational and delegation ability; ability to develop, direct and control staff; strategic and analytical thinking; problem solving and creative ability; technical expertise for calculated risk taking.

2. Social and communication skills such as of verbal and written communications, presentation, negotiation, co-operation, listening and empathy. 3. Personal qualities such as integrity, initiative, enthusiasm, drive for achievement and results, self-motivation and stress tolerance.

4. The ability to lead and work with a team of highly qualified professionals. Chief Executive Officer – Mr. James Wanderi Kairu

The Chief Executive Officer is the principal executive officer with the primary role of overseeing the implementation process of all Board resolutions. He is the corporate business leader in the achievement of strategic objectives and is in charge of all corporate transactions. He reports to the Board

at its annual meeting as well as the Management Board and his functions include: 1. Exercise general oversight of TEMIC ENERGY’s business organization and matters that arise within the ordinary course of business and

are in the best interest of TEMIC ENERGY. 2. Provide leadership in the development of TEMIC ENERGY’s organization. 3. Provide leadership in meeting TEMIC ENERGY’s strategic objectives

4. Provide leadership in the formulation of TEMIC ENERGY’s organizational policy 5. Provide leadership in strategic management support and liaison development among TEMIC ENERGY’s Officers and Senior Managers within their respective departments.

6. Build and enhance TEMIC ENERGY’s image with investors and partners 7. Exercise general oversight of Senior Managers and obtain regular reports from them.

Chief Operating Officer – Mr. James Wanderi Kairu (Acting) The Chief Operating Officer is the principal operating officer with the general oversight of TEMIC ENERGY’s operational processes. He reports to

the Management Board and his functions include: 1. Exercise general oversight of TEMIC ENERGY’s business operations and units

2. Provide leadership in the development of TEMIC ENERGY’s business operations 3. Provide leadership in fostering TEMIC ENERGY’s business development objectives 4. Provide leadership in the formulation of TEMIC ENERGY’s operational policy.

Chief Business Officer – Ms. Julia Wairimu Kamotho

The Chief Business Officer is the principal business development officer with the general oversight of TEMIC ENERGY’s business development affairs and procedures, which will include advertising, marketing, promotions, sales and public relations.

She reports to the Management Board and her functions include: 1. Exercise general oversight of TEMIC ENERGY’s business development activities 2. Provide leadership in business development strategies and policies

3. Provide leadership in the development of TEMIC ENERGY’s business objectives 4. Provide leadership in the formulation of TEMIC ENERGY’s business policy 5. Exercise general oversight of TEMIC ENERGY’s business units and provide quality leadership in the development of their strategic

growth. Chief Financial Officer – Mr. Jigar Shah

The Chief Financial Officer is the principal financial officer with the general oversight of TEMIC ENERGY’s financial and accounting affairs and audit procedure. The CFO is also responsible for financial strategy and policy as well as financial planning. He also oversees the financial accounts,

taxes and bank accounts and reports to the Management Board. His functions include:


1. Exercise general oversight of TEMIC ENERGY’s financial management processes

2. Provide leadership in the management of budgets and audits 3. Provide leadership in the formulation of financial policy 4. Have the care and custody of TEMIC ENERGY’s funds and fund raising activities

5. Exercise general oversight of TEMIC ENERGY’s accounting procedures 6. Provide leadership in the management of accounting systems 7. Provide leadership in the formulation of accounting policy

8. Have the care and custody of the Organization’s books of accounts and records and control of disbursing the Organization’s funds. Chief Investments Officer – Mr. Jigar Shah

The Chief Investments Officer is the principal investment officer with the general oversight of TEMIC ENERGY’s investment affairs and procedures. He is responsible for risk management, funding and cash management, mergers and takeovers and investment appraisals. He reports to the

Management Board and his functions include: 1. Exercise general oversight of TEMIC ENERGY’s business investments

2. Provide leadership in the development of TEMIC ENERGY’s business investments 3. Provide leadership in the management of TEMIC ENERGY’s investment portfolios 4. Provide leadership in the formulation of TEMIC ENERGY’s investment policy

5. Have care and custody of TEMIC ENERGY’s securities Chief Research & Development Officer –

The Chief Research & Development Officer is the principal research & development officer with the general oversight of TEMIC ENERGY’s research and information development affairs and procedures including training. He reports to the Board and his functions include:

1. Exercise general oversight of TEMIC ENERGY’s research and information systems 2. Exercise general oversight of TEMIC ENERGY’s databanks, databases and libraries

3. Provide leadership in the development of TEMIC ENERGY’s research and information development policy and objectives as well as training policies and objectives 4. Provide leadership in the formulation of TEMIC ENERGY’s research policy and objectives

Chief Human Capital Officer –

The Chief Human Capital Officer is the principal human capital officer with the general oversight of TEMIC ENERGY’s human capital development and training affairs and procedures. She reports to the Management Board and her functions include:

1. Exercise general oversight of TEMIC ENERGY’s human capital management activities 2. Provide leadership in the development of TEMIC ENERGY’s Board 3. Continually develop a human capital management policy framework.

4. Direct the management of TEMIC ENERGY’s human capital management systems & structures 5. Represent the best interests of TEMIC ENERGY at all human capital management levels and engagements 6. As a Board Member, do anything else necessary in the ordinary cause of her duty to render value to TEMIC ENERGY’s overall objectives

and achievement of its vision Chief Legal Officer – Mr. Martin Maina, Advocate

The Chief Legal Officer is the principal legal officer with the general oversight of TEMIC ENERGY’s legal affairs and procedures. She reports to the Management Board and her functions include:

1. Exercise general oversight of TEMIC ENERGY’s legal activities and documentary quality 2. Provide leadership in the development of TEMIC ENERGY’s legal objectives and policy

3. Direct the affairs and procedures of TEMIC ENERGY’s Board 4. Direct the management of TEMIC ENERGY’s archives, records and registers 5. Direct the drafting, vetting and negotiating of TEMIC ENERGY’s legal instruments

6. Act as TEMIC ENERGY’s principal compliance officer and ensure that the Organization’s regulatory articles and statutory instruments are compliant with governmental legislation 7. Keeping corporate books and having charge of TEMIC ENERGY’s seals

8. Preparing shareholder lists for annual meetings 9. Maintaining and recording entries in stock ledger 10. Countersigning certain corporate documents and instruments

Proposed Remuneration Package Consolidated Pay – This is projected to be developed to match 20% of Gross Annual Revenues & thus be adjusted and structured to be

performance based. However, in order to establish TEMIC ENERGY as an international organization, whose compensation system is based on international standards,

start-up consolidated pay ranges are as follows, (Kenya Pound Ke£:KShs.20)

Senior Staff: Pay Code S205-S255 [Kenya Pounds £2,700,000 to £3,000,000, Per Annum]


Strategic Staff: Pay Code S154-S204 [Kenya Pounds £2,100,000 to £2,400,000, Per Annum]

Support Staff: Pay Code S103-S153 [Kenya Pounds £1,500,000 to £1,800,000, Per Annum] Specialist Staff: Pay Code S52-S102 [Kenya Pounds £900,000 to £1,200,000, Per Annum] Subordinate Staff: Pay Code S1-S51 [Kenya Pounds £300,000 to £600,000, Per Annum]

Basic Salary – 50% of Consolidated Pay House Allowance – 40% of Basic Salary

Travel Allowance – 30% of Basic Salary Duty Allowance – 20% of Basic Salary Entertainment Allowance – 10% of Basic Salary

Consolidated Pay, includes a 30% Tax Benefit

Medical Benefit – 120% of Consolidated Pay Leave Allowance – 100% of Basic Pay

Credit Line Facility – 1 x Monthly Gross Pay [30 Days Repayment Term] Emergency Facility – 1 x Monthly Gross Pay [90 Days Repayment Term] Capital Facility – 1 x Annual Gross Pay [20% per Annum, 5 Years Repayment Term]

Housing Facility – 10 x Annual Gross Pay [10% per Annum, 10 Years Repayment Term] Vehicle Facility – 3 x Annual Gross Pay [35% per Annum, 3 Years Repayment Term]

Consolidated Pay (Incl. 30% Tax Benefit)

(Ke£)

Basic Salary

(Ke£)

Basic Salary - Monthly

Gross (Ke£)

Kenya Shillings (KShs)

Equivalent

United

Kingdom - Sterling

Pounds (£)

Equivalent

United States

Dollars ($)

Equivalent

European Union Euros

(€)

Equivalent

S 255 3,000,000 1,500,000 125,000 2,500,000 17,940.57 29,359.95 20,438

S 254 2,994,000 1,497,000 124,750 2,495,000 17,904.69 29,301.23 20,397

S 253 2,988,000 1,494,000 124,500 2,490,000 17,868.80 29,242.51 20,356

S 252 2,982,000 1,491,000 124,250 2,485,000 17,832.92 29,183.79 20,316

S 251 2,976,000 1,488,000 124,000 2,480,000 17,797.04 29,125.07 20,275

S 250 2,970,000 1,485,000 123,750 2,475,000 17,761.16 29,066.35 20,234

S 249 2,964,000 1,482,000 123,500 2,470,000 17,725.28 29,007.63 20,193

S 248 2,958,000 1,479,000 123,250 2,465,000 17,689.40 28,948.91 20,152

S 247 2,952,000 1,476,000 123,000 2,460,000 17,653.52 28,890.19 20,111

S 246 2,946,000 1,473,000 122,750 2,455,000 17,617.64 28,831.47 20,070

S 245 2,940,000 1,470,000 122,500 2,450,000 17,581.76 28,772.75 20,029

S 244 2,934,000 1,467,000 122,250 2,445,000 17,545.87 28,714.03 19,989

S 243 2,928,000 1,464,000 122,000 2,440,000 17,509.99 28,655.31 19,948

S 242 2,922,000 1,461,000 121,750 2,435,000 17,474.11 28,596.59 19,907

S 241 2,916,000 1,458,000 121,500 2,430,000 17,438.23 28,537.87 19,866

S 240 2,910,000 1,455,000 121,250 2,425,000 17,402.35 28,479.15 19,825

S 239 2,904,000 1,452,000 121,000 2,420,000 17,366.47 28,420.43 19,784

S 238 2,898,000 1,449,000 120,750 2,415,000 17,330.59 28,361.71 19,743

S 237 2,892,000 1,446,000 120,500 2,410,000 17,294.71 28,302.99 19,702

S 236 2,886,000 1,443,000 120,250 2,405,000 17,258.82 28,244.27 19,662

S 235 2,880,000 1,440,000 120,000 2,400,000 17,222.94 28,185.55 19,621

S 234 2,874,000 1,437,000 119,750 2,395,000 17,187.06 28,126.83 19,580


S 233 2,868,000 1,434,000 119,500 2,390,000 17,151.18 28,068.12 19,539

S 232 2,862,000 1,431,000 119,250 2,385,000 17,115.30 28,009.40 19,498

S 231 2,856,000 1,428,000 119,000 2,380,000 17,079.42 27,950.68 19,457

S 230 2,850,000 1,425,000 118,750 2,375,000 17,043.54 27,891.96 19,416

S 229 2,844,000 1,422,000 118,500 2,370,000 17,007.66 27,833.24 19,375

S 228 2,838,000 1,419,000 118,250 2,365,000 16,971.78 27,774.52 19,335

S 227 2,832,000 1,416,000 118,000 2,360,000 16,935.89 27,715.80 19,294

S 226 2,826,000 1,413,000 117,750 2,355,000 16,900.01 27,657.08 19,253

S 225 2,820,000 1,410,000 117,500 2,350,000 16,864.13 27,598.36 19,212

S 224 2,814,000 1,407,000 117,250 2,345,000 16,828.25 27,539.64 19,171

S 223 2,808,000 1,404,000 117,000 2,340,000 16,792.37 27,480.92 19,130

S 222 2,802,000 1,401,000 116,750 2,335,000 16,756.49 27,422.20 19,089

S 221 2,796,000 1,398,000 116,500 2,330,000 16,720.61 27,363.48 19,048

S 220 2,790,000 1,395,000 116,250 2,325,000 16,684.73 27,304.76 19,008

S 219 2,784,000 1,392,000 116,000 2,320,000 16,648.85 27,246.04 18,967

S 218 2,778,000 1,389,000 115,750 2,315,000 16,612.96 27,187.32 18,926

S 217 2,772,000 1,386,000 115,500 2,310,000 16,577.08 27,128.60 18,885

S 216 2,766,000 1,383,000 115,250 2,305,000 16,541.20 27,069.88 18,844

S 215 2,760,000 1,380,000 115,000 2,300,000 16,505.32 27,011.16 18,803

S 214 2,754,000 1,377,000 114,750 2,295,000 16,469.44 26,952.44 18,762

S 213 2,748,000 1,374,000 114,500 2,290,000 16,433.56 26,893.72 18,721

S 212 2,742,000 1,371,000 114,250 2,285,000 16,397.68 26,835.00 18,681

S 211 2,736,000 1,368,000 114,000 2,280,000 16,361.80 26,776.28 18,640

S 210 2,730,000 1,365,000 113,750 2,275,000 16,325.92 26,717.56 18,599

S 209 2,724,000 1,362,000 113,500 2,270,000 16,290.03 26,658.84 18,558

S 208 2,718,000 1,359,000 113,250 2,265,000 16,254.15 26,600.12 18,517

S 207 2,712,000 1,356,000 113,000 2,260,000 16,218.27 26,541.40 18,476

S 206 2,706,000 1,353,000 112,750 2,255,000 16,182.39 26,482.68 18,435

S 205 2,700,000 1,350,000 112,500 2,250,000 16,146.51 26,423.96 18,394

S 204 2,400,000 1,200,000 100,000 2,000,000 14,352.45 23,487.96 16,351

S 203 2,394,000 1,197,000 99,750 1,995,000 14,316.57 23,429.24 16,310

S 202 2,388,000 1,194,000 99,500 1,990,000 14,280.69 23,370.52 16,269

S 201 2,382,000 1,191,000 99,250 1,985,000 14,244.81 23,311.80 16,228

S 200 2,376,000 1,188,000 99,000 1,980,000 14,208.93 23,253.08 16,187

S 199 2,370,000 1,185,000 98,750 1,975,000 14,173.05 23,194.36 16,146

S 198 2,364,000 1,182,000 98,500 1,970,000 14,137.17 23,135.64 16,105

S 197 2,358,000 1,179,000 98,250 1,965,000 14,101.29 23,076.92 16,064

S 196 2,352,000 1,176,000 98,000 1,960,000 14,065.40 23,018.20 16,024

S 195 2,346,000 1,173,000 97,750 1,955,000 14,029.52 22,959.48 15,983

S 194 2,340,000 1,170,000 97,500 1,950,000 13,993.64 22,900.76 15,942


S 193 2,334,000 1,167,000 97,250 1,945,000 13,957.76 22,842.04 15,901

S 192 2,328,000 1,164,000 97,000 1,940,000 13,921.88 22,783.32 15,860

S 191 2,322,000 1,161,000 96,750 1,935,000 13,886.00 22,724.60 15,819

S 190 2,316,000 1,158,000 96,500 1,930,000 13,850.12 22,665.88 15,778

S 189 2,310,000 1,155,000 96,250 1,925,000 13,814.24 22,607.16 15,737

S 188 2,304,000 1,152,000 96,000 1,920,000 13,778.36 22,548.44 15,697

S 187 2,298,000 1,149,000 95,750 1,915,000 13,742.47 22,489.72 15,656

S 186 2,292,000 1,146,000 95,500 1,910,000 13,706.59 22,431.00 15,615

S 185 2,286,000 1,143,000 95,250 1,905,000 13,670.71 22,372.28 15,574

S 184 2,280,000 1,140,000 95,000 1,900,000 13,634.83 22,313.56 15,533

S 183 2,274,000 1,137,000 94,750 1,895,000 13,598.95 22,254.84 15,492

S 182 2,268,000 1,134,000 94,500 1,890,000 13,563.07 22,196.12 15,451

S 181 2,262,000 1,131,000 94,250 1,885,000 13,527.19 22,137.40 15,410

S 180 2,256,000 1,128,000 94,000 1,880,000 13,491.31 22,078.68 15,370

S 179 2,250,000 1,125,000 93,750 1,875,000 13,455.42 22,019.96 15,329

S 178 2,244,000 1,122,000 93,500 1,870,000 13,419.54 21,961.24 15,288

S 177 2,238,000 1,119,000 93,250 1,865,000 13,383.66 21,902.52 15,247

S 176 2,232,000 1,116,000 93,000 1,860,000 13,347.78 21,843.81 15,206

S 175 2,226,000 1,113,000 92,750 1,855,000 13,311.90 21,785.09 15,165

S 174 2,220,000 1,110,000 92,500 1,850,000 13,276.02 21,726.37 15,124

S 173 2,214,000 1,107,000 92,250 1,845,000 13,240.14 21,667.65 15,083

S 172 2,208,000 1,104,000 92,000 1,840,000 13,204.26 21,608.93 15,043

S 171 2,202,000 1,101,000 91,750 1,835,000 13,168.38 21,550.21 15,002

S 170 2,196,000 1,098,000 91,500 1,830,000 13,132.49 21,491.49 14,961

S 169 2,190,000 1,095,000 91,250 1,825,000 13,096.61 21,432.77 14,920

S 168 2,184,000 1,092,000 91,000 1,820,000 13,060.73 21,374.05 14,879

S 167 2,178,000 1,089,000 90,750 1,815,000 13,024.85 21,315.33 14,838

S 166 2,172,000 1,086,000 90,500 1,810,000 12,988.97 21,256.61 14,797

S 165 2,166,000 1,083,000 90,250 1,805,000 12,953.09 21,197.89 14,756

S 164 2,160,000 1,080,000 90,000 1,800,000 12,917.21 21,139.17 14,716

S 163 2,154,000 1,077,000 89,750 1,795,000 12,881.33 21,080.45 14,675

S 162 2,148,000 1,074,000 89,500 1,790,000 12,845.45 21,021.73 14,634

S 161 2,142,000 1,071,000 89,250 1,785,000 12,809.56 20,963.01 14,593

S 160 2,136,000 1,068,000 89,000 1,780,000 12,773.68 20,904.29 14,552

S 159 2,130,000 1,065,000 88,750 1,775,000 12,737.80 20,845.57 14,511

S 158 2,124,000 1,062,000 88,500 1,770,000 12,701.92 20,786.85 14,470

S 157 2,118,000 1,059,000 88,250 1,765,000 12,666.04 20,728.13 14,429

S 156 2,112,000 1,056,000 88,000 1,760,000 12,630.16 20,669.41 14,388

S 155 2,106,000 1,053,000 87,750 1,755,000 12,594.28 20,610.69 14,348

S 154 2,100,000 1,050,000 87,500 1,750,000 12,558.40 20,551.97 14,307


S 153 1,800,000 900,000 75,000 1,500,000 10,764.34 17,615.97 12,263

S 152 1,794,000 897,000 74,750 1,495,000 10,728.46 17,557.25 12,222

S 151 1,788,000 894,000 74,500 1,490,000 10,692.58 17,498.53 12,181

S 150 1,782,000 891,000 74,250 1,485,000 10,656.70 17,439.81 12,140

S 149 1,776,000 888,000 74,000 1,480,000 10,620.82 17,381.09 12,099

S 148 1,770,000 885,000 73,750 1,475,000 10,584.93 17,322.37 12,059

S 147 1,764,000 882,000 73,500 1,470,000 10,549.05 17,263.65 12,018

S 146 1,758,000 879,000 73,250 1,465,000 10,513.17 17,204.93 11,977

S 145 1,752,000 876,000 73,000 1,460,000 10,477.29 17,146.21 11,936

S 144 1,746,000 873,000 72,750 1,455,000 10,441.41 17,087.49 11,895

S 143 1,740,000 870,000 72,500 1,450,000 10,405.53 17,028.77 11,854

S 142 1,734,000 867,000 72,250 1,445,000 10,369.65 16,970.05 11,813

S 141 1,728,000 864,000 72,000 1,440,000 10,333.77 16,911.33 11,772

S 140 1,722,000 861,000 71,750 1,435,000 10,297.89 16,852.61 11,732

S 139 1,716,000 858,000 71,500 1,430,000 10,262.00 16,793.89 11,691

S 138 1,710,000 855,000 71,250 1,425,000 10,226.12 16,735.17 11,650

S 137 1,704,000 852,000 71,000 1,420,000 10,190.24 16,676.45 11,609

S 136 1,698,000 849,000 70,750 1,415,000 10,154.36 16,617.73 11,568

S 135 1,692,000 846,000 70,500 1,410,000 10,118.48 16,559.01 11,527

S 134 1,686,000 843,000 70,250 1,405,000 10,082.60 16,500.29 11,486

S 133 1,680,000 840,000 70,000 1,400,000 10,046.72 16,441.57 11,445

S 132 1,674,000 837,000 69,750 1,395,000 10,010.84 16,382.85 11,405

S 131 1,668,000 834,000 69,500 1,390,000 9,974.95 16,324.13 11,364

S 130 1,662,000 831,000 69,250 1,385,000 9,939.07 16,265.41 11,323

S 129 1,656,000 828,000 69,000 1,380,000 9,903.19 16,206.69 11,282

S 128 1,650,000 825,000 68,750 1,375,000 9,867.31 16,147.97 11,241

S 127 1,644,000 822,000 68,500 1,370,000 9,831.43 16,089.25 11,200

S 126 1,638,000 819,000 68,250 1,365,000 9,795.55 16,030.53 11,159

S 125 1,632,000 816,000 68,000 1,360,000 9,759.67 15,971.81 11,118

S 124 1,626,000 813,000 67,750 1,355,000 9,723.79 15,913.09 11,078

S 123 1,620,000 810,000 67,500 1,350,000 9,687.91 15,854.37 11,037

S 122 1,614,000 807,000 67,250 1,345,000 9,652.02 15,795.65 10,996

S 121 1,608,000 804,000 67,000 1,340,000 9,616.14 15,736.93 10,955

S 120 1,602,000 801,000 66,750 1,335,000 9,580.26 15,678.21 10,914

S 119 1,596,000 798,000 66,500 1,330,000 9,544.38 15,619.50 10,873

S 118 1,590,000 795,000 66,250 1,325,000 9,508.50 15,560.78 10,832

S 117 1,584,000 792,000 66,000 1,320,000 9,472.62 15,502.06 10,791

S 116 1,578,000 789,000 65,750 1,315,000 9,436.74 15,443.34 10,750

S 115 1,572,000 786,000 65,500 1,310,000 9,400.86 15,384.62 10,710

S 114 1,566,000 783,000 65,250 1,305,000 9,364.98 15,325.90 10,669


S 113 1,560,000 780,000 65,000 1,300,000 9,329.09 15,267.18 10,628

S 112 1,554,000 777,000 64,750 1,295,000 9,293.21 15,208.46 10,587

S 111 1,548,000 774,000 64,500 1,290,000 9,257.33 15,149.74 10,546

S 110 1,542,000 771,000 64,250 1,285,000 9,221.45 15,091.02 10,505

S 109 1,536,000 768,000 64,000 1,280,000 9,185.57 15,032.30 10,464

S 108 1,530,000 765,000 63,750 1,275,000 9,149.69 14,973.58 10,423

S 107 1,524,000 762,000 63,500 1,270,000 9,113.81 14,914.86 10,383

S 106 1,518,000 759,000 63,250 1,265,000 9,077.93 14,856.14 10,342

S 105 1,512,000 756,000 63,000 1,260,000 9,042.05 14,797.42 10,301

S 104 1,506,000 753,000 62,750 1,255,000 9,006.16 14,738.70 10,260

S 103 1,500,000 750,000 62,500 1,250,000 8,970.28 14,679.98 10,219

S 102 1,200,000 600,000 50,000 1,000,000 7,176.23 11,743.98 8,175

S 101 1,194,000 597,000 49,750 995,000 7,140.35 11,685.26 8,134

S 100 1,188,000 594,000 49,500 990,000 7,104.46 11,626.54 8,094

S 99 1,182,000 591,000 49,250 985,000 7,068.58 11,567.82 8,053

S 98 1,176,000 588,000 49,000 980,000 7,032.70 11,509.10 8,012

S 97 1,170,000 585,000 48,750 975,000 6,996.82 11,450.38 7,971

S 96 1,164,000 582,000 48,500 970,000 6,960.94 11,391.66 7,930

S 95 1,158,000 579,000 48,250 965,000 6,925.06 11,332.94 7,889

S 94 1,152,000 576,000 48,000 960,000 6,889.18 11,274.22 7,848

S 93 1,146,000 573,000 47,750 955,000 6,853.30 11,215.50 7,807

S 92 1,140,000 570,000 47,500 950,000 6,817.42 11,156.78 7,767

S 91 1,134,000 567,000 47,250 945,000 6,781.53 11,098.06 7,726

S 90 1,128,000 564,000 47,000 940,000 6,745.65 11,039.34 7,685

S 89 1,122,000 561,000 46,750 935,000 6,709.77 10,980.62 7,644

S 88 1,116,000 558,000 46,500 930,000 6,673.89 10,921.90 7,603

S 87 1,110,000 555,000 46,250 925,000 6,638.01 10,863.18 7,562

S 86 1,104,000 552,000 46,000 920,000 6,602.13 10,804.46 7,521

S 85 1,098,000 549,000 45,750 915,000 6,566.25 10,745.74 7,480

S 84 1,092,000 546,000 45,500 910,000 6,530.37 10,687.02 7,440

S 83 1,086,000 543,000 45,250 905,000 6,494.49 10,628.30 7,399

S 82 1,080,000 540,000 45,000 900,000 6,458.60 10,569.58 7,358

S 81 1,074,000 537,000 44,750 895,000 6,422.72 10,510.86 7,317

S 80 1,068,000 534,000 44,500 890,000 6,386.84 10,452.14 7,276

S 79 1,062,000 531,000 44,250 885,000 6,350.96 10,393.42 7,235

S 78 1,056,000 528,000 44,000 880,000 6,315.08 10,334.70 7,194

S 77 1,050,000 525,000 43,750 875,000 6,279.20 10,275.98 7,153

S 76 1,044,000 522,000 43,500 870,000 6,243.32 10,217.26 7,112

S 75 1,038,000 519,000 43,250 865,000 6,207.44 10,158.54 7,072

S 74 1,032,000 516,000 43,000 860,000 6,171.55 10,099.82 7,031


S 73 1,026,000 513,000 42,750 855,000 6,135.67 10,041.10 6,990

S 72 1,020,000 510,000 42,500 850,000 6,099.79 9,982.38 6,949

S 71 1,014,000 507,000 42,250 845,000 6,063.91 9,923.66 6,908

S 70 1,008,000 504,000 42,000 840,000 6,028.03 9,864.94 6,867

S 69 1,002,000 501,000 41,750 835,000 5,992.15 9,806.22 6,826

S 68 996,000 498,000 41,500 830,000 5,956.27 9,747.50 6,785

S 67 990,000 495,000 41,250 825,000 5,920.39 9,688.78 6,745

S 66 984,000 492,000 41,000 820,000 5,884.51 9,630.06 6,704

S 65 978,000 489,000 40,750 815,000 5,848.62 9,571.34 6,663

S 64 972,000 486,000 40,500 810,000 5,812.74 9,512.62 6,622

S 63 966,000 483,000 40,250 805,000 5,776.86 9,453.90 6,581

S 62 960,000 480,000 40,000 800,000 5,740.98 9,395.18 6,540

S 61 954,000 477,000 39,750 795,000 5,705.10 9,336.47 6,499

S 60 948,000 474,000 39,500 790,000 5,669.22 9,277.75 6,458

S 59 942,000 471,000 39,250 785,000 5,633.34 9,219.03 6,418

S 58 936,000 468,000 39,000 780,000 5,597.46 9,160.31 6,377

S 57 930,000 465,000 38,750 775,000 5,561.58 9,101.59 6,336

S 56 924,000 462,000 38,500 770,000 5,525.69 9,042.87 6,295

S 55 918,000 459,000 38,250 765,000 5,489.81 8,984.15 6,254

S 54 912,000 456,000 38,000 760,000 5,453.93 8,925.43 6,213

S 53 906,000 453,000 37,750 755,000 5,418.05 8,866.71 6,172

S 52 900,000 450,000 37,500 750,000 5,382.17 8,807.99 6,131

S 51 600,000 300,000 25,000 500,000 3,588.11 5,871.99 4,088

S 50 594,000 297,000 24,750 495,000 3,552.23 5,813.27 4,047

S 49 588,000 294,000 24,500 490,000 3,516.35 5,754.55 4,006

S 48 582,000 291,000 24,250 485,000 3,480.47 5,695.83 3,965

S 47 576,000 288,000 24,000 480,000 3,444.59 5,637.11 3,924

S 46 570,000 285,000 23,750 475,000 3,408.71 5,578.39 3,883

S 45 564,000 282,000 23,500 470,000 3,372.83 5,519.67 3,842

S 44 558,000 279,000 23,250 465,000 3,336.95 5,460.95 3,802

S 43 552,000 276,000 23,000 460,000 3,301.06 5,402.23 3,761

S 42 546,000 273,000 22,750 455,000 3,265.18 5,343.51 3,720

S 41 540,000 270,000 22,500 450,000 3,229.30 5,284.79 3,679

S 40 534,000 267,000 22,250 445,000 3,193.42 5,226.07 3,638

S 39 528,000 264,000 22,000 440,000 3,157.54 5,167.35 3,597

S 38 522,000 261,000 21,750 435,000 3,121.66 5,108.63 3,556

S 37 516,000 258,000 21,500 430,000 3,085.78 5,049.91 3,515

S 36 510,000 255,000 21,250 425,000 3,049.90 4,991.19 3,474

S 35 504,000 252,000 21,000 420,000 3,014.02 4,932.47 3,434

S 34 498,000 249,000 20,750 415,000 2,978.13 4,873.75 3,393


S 33 492,000 246,000 20,500 410,000 2,942.25 4,815.03 3,352

S 32 486,000 243,000 20,250 405,000 2,906.37 4,756.31 3,311

S 31 480,000 240,000 20,000 400,000 2,870.49 4,697.59 3,270

S 30 474,000 237,000 19,750 395,000 2,834.61 4,638.87 3,229

S 29 468,000 234,000 19,500 390,000 2,798.73 4,580.15 3,188

S 28 462,000 231,000 19,250 385,000 2,762.85 4,521.43 3,147

S 27 456,000 228,000 19,000 380,000 2,726.97 4,462.71 3,107

S 26 450,000 225,000 18,750 375,000 2,691.08 4,403.99 3,066

S 25 444,000 222,000 18,500 370,000 2,655.20 4,345.27 3,025

S 24 438,000 219,000 18,250 365,000 2,619.32 4,286.55 2,984

S 23 432,000 216,000 18,000 360,000 2,583.44 4,227.83 2,943

S 22 426,000 213,000 17,750 355,000 2,547.56 4,169.11 2,902

S 21 420,000 210,000 17,500 350,000 2,511.68 4,110.39 2,861

S 20 414,000 207,000 17,250 345,000 2,475.80 4,051.67 2,820

S 19 408,000 204,000 17,000 340,000 2,439.92 3,992.95 2,780

S 18 402,000 201,000 16,750 335,000 2,404.04 3,934.23 2,739

S 17 396,000 198,000 16,500 330,000 2,368.15 3,875.51 2,698

S 16 390,000 195,000 16,250 325,000 2,332.27 3,816.79 2,657

S 15 384,000 192,000 16,000 320,000 2,296.39 3,758.07 2,616

S 14 378,000 189,000 15,750 315,000 2,260.51 3,699.35 2,575

S 13 372,000 186,000 15,500 310,000 2,224.63 3,640.63 2,534

S 12 366,000 183,000 15,250 305,000 2,188.75 3,581.91 2,493

S 11 360,000 180,000 15,000 300,000 2,152.87 3,523.19 2,453

S 10 354,000 177,000 14,750 295,000 2,116.99 3,464.47 2,412

S 9 348,000 174,000 14,500 290,000 2,081.11 3,405.75 2,371

S 8 342,000 171,000 14,250 285,000 2,045.22 3,347.03 2,330

S 7 336,000 168,000 14,000 280,000 2,009.34 3,288.31 2,289

S 6 330,000 165,000 13,750 275,000 1,973.46 3,229.59 2,248

S 5 324,000 162,000 13,500 270,000 1,937.58 3,170.87 2,207

S 4 318,000 159,000 13,250 265,000 1,901.70 3,112.16 2,166

S 3 312,000 156,000 13,000 260,000 1,865.82 3,053.44 2,126

S 2 306,000 153,000 12,750 255,000 1,829.94 2,994.72 2,085

S 1 300,000 150,000 12,500 250,000 1,794.06 2,936.00 2,044

Training Module of TEMIC ENERGY

TEMIC ENERGY has come up with the following training module based on a system of STRATEGIC EXECUTIVE LEVEL SUPPORT (SELS) to assist its Directors and Officers in articulating and appreciating its values. This training module is also geared at assisting the Directors and Officers to achieve a high level of professionalism in expediting their duties as Directors and Group Officers. It is by no means exhaustive, neither within

these or implied limits.

Be vision carriers. Articulate and believe in the vision of TEMIC ENERGY.

Think of TEMIC ENERGY Globally yet be local. Believe in yourself as a Director of TEMIC ENERGY and in The Board of Directors. Achieve and deliver TEMIC ENERGY’s Goals and Objectives.


Internalize and articulate TEMIC ENERGY’s Philosophy.

Have an overall knowledge and understanding of TEMIC ENERGY’s operations and other related activities of the group. Grasp how TEMIC ENERGY specifically intends to achieve and sustain its corporate targets, projections and objectives. Be fully aware of TEMIC ENERGY time-plan of action. When to start what activity and when to complete what activity. Stick to the time-

plan of action. Have full knowledge of the amount of facilities required for each project and for the operations of each of TEMIC ENERGY subsidiaries

and affiliates.

Develop a win-win mentality. A conquering mentality i.e. TEMIC ENERGY charitable investment products and services should be consumed both locally and internationally.

Generate ideas and provide corporate direction and leadership to the entire TEMIC ENERGY.

Make TEMIC ENERGY, the best organization in the world. Embody and epitomize the values and character of TEMIC ENERGY.

The Code of Ethics of TEMIC ENERGY This Code of Ethics has to be adhered to by each and every staff member, executive or otherwise, of TEMIC ENERGY. Adhering to its fundamental

principals will ensure that all staff members have the highest level of ethical professionalism in achieving the overall objectives of TEMIC ENERGY. FUNDAMENTAL PRINCIPLES OF THE CODE OF ETHICS

SOCIETY I will uphold the health, safety and welfare of wider society, future generations and the environment

ORGANISATIONS I will serve my employers and clients honestly, competently and diligently

PEERS I will respect and support the legitimate needs, interests and aspirations of all my colleagues and peers

STAFF I will encourage and assist those I supervise both to fulfill their responsibilities and to develop their full potential

PROFESSION I will strive to be a fit representative of my profession and to promote the vision of TEMIC ENERGY

SELF I will be honest in representing myself and will continually strive to enhance both my professional competence and my ethical

understanding THE CODE OF ETHICS (IN DETAIL)

SOCIETY: I uphold the health, safety and welfare of wider society, future generations and the environment

I will strive to ensure that those professional activities for which I have responsibility, or over which I have influence, will not be a cause of

avoidable harm to any section of the wider community, present or future, or the environment

When there is no effective alternative, I will bring to the attention of the relevant public authorities any activity by staf f I supervise,

colleagues, employers, clients or fellow professionals that is likely to result in harm as described above

I will contribute to public debate regarding policy formulation in areas where this is in the wider interest, I have technical or professional

competence and there is an appropriate opportunity to do so

I will use my knowledge, understanding and position to oppose false claims by others regarding the capabilities, potential or safety of any

aspect of TEMIC ENERGY

I will strive to protect the legitimate privacy and property of individuals and organizations in wider society, where there is a risk that these

may be compromised by professional activities for which I am responsible, or over which I have influence

ORGANISATIONS: I will serve my employers and clients honestly, competently and diligently

I will endeavor to avoid, identify and resolve conflicts of interest

I will accept neither an assignment that I know I will not be able to complete competently, nor an assignment that I know I w ill not be able

to complete competently unless the risks are knowingly and freely accepted by all parties concerned

I will not knowingly commit a team to a task that can not be completed within acceptable Limits of cost, effort and time, unless the risks

are knowingly and freely accepted by all parties concerned

I will preserve the Legitimate confidentiality of the affairs of my employers and clients

I will protect the legitimate property and uphold the legitimate rights of my employers and clients


I will adhere to relevant and well-founded organizational and professional policies and standards

I will ensure, within the extent of my influence, that sufficient and competent staff are deployed on any professional activi ty

I will ensure, within the extent of my influence, compliance with relevant and well-founded technical standards and methods

I will ensure that I do not cause my employers or clients to breach applicable legislation or well-founded rules, unless there is a greater ethical priority of sufficient magnitude

PEERS I will respect and support the legitimate needs, interests and aspirations of all my colleagues and peers

I will protect the legitimate privacy and property of my colleagues and peers

I will refrain from all conduct that inappropriately undermines my colleagues or peers

I will give an honest opinion regarding the competence and potential of my colleagues and peers, when it is appropriate to do so

I will act in support of colleagues and peers who uphold what is right above their personal interest, benefit and convenience

I will promote teamwork among my colleagues and peers, taking my fair share of the burdens and no more than my fair share of the credit

STAFF I will encourage and assist those I supervise both to fulfill their responsibilities and to develop their full potential

I will adopt and promote an ethical approach to management

I will be fair with my dealings with those that I supervise

I will be open towards those I supervise, unless constrained by a greater ethical priority

I will actively oppose discrimination at work except on the sole basis of an individual’s capacity for the task, and will take care that my

judgment on this issue is not prejudiced by preconceived notions regarding any group in society

I will actively oppose surveillance undertaken without informed consent of the subjects, unless such surveillance is justified by a greater

ethical priority

I will encourage staff education, training, development and promotion and will represent the legitimate best interests of those I supervise

in developing their careers both within and beyond TEMIC ENERGY

I will give an honest opinion regarding the competence and potential of staff I supervise, when it is appropriate to do so

I will protect the legitimate privacy and property of those I supervise

I will promote adherence to relevant and well-founded specialist code of conduct

I will promote teamwork among those I supervise, taking my fair share of the burdens and no more than my fair share of the credit

I will not require those I supervise to breach applicable legislation or well-founded rules

PROFESSION

I will strive to be a fit representative of my profession and to promote the vision of TEMIC ENERGY

I will act with integrity at all times

I will be honest unless constrained by a greater ethical priority

I will strive to abide by this code of ethics and thereby enhance the public image and standing of the profession

I will be willing to perform voluntary work on behalf of the profession, provided that I have the necessary time, resources and capability for the task

SELF I will be honest in representing myself and will continually strive to enhance both my professional competence and my ethical

understanding

I will maintain my personal integrity

I will not allow personal interests to influence the advice I give on technical and professional matters and issues

I will maintain the continuing development of my technical, professional and ethical understanding and competence


I will do anything else in the ordinary conduct of myself that will enhance, promote and sustain the vision, fundamental principals,

structure, culture and philosophy of TEMIC ENERGY