Investment strategy and process
Historic Investment Strategy
Africa has significant agricultural resources and mining reserves. Exports from these sectors are increasing significantly, driven by the accelerating needs of newly industrialising, high growth nations around the globe. As a result, these economies are having a profound impact on Africa's strategic importance, which is now accelerating also. The World Bank estimates that annual capital investment in infrastructure would need to double in order to support the targeted real growth rate in Africa. This creates a very significant opportunity for inward investors.
PME's mandate allows it to invest in the transportation, telecommunications, energy, water and sanitation and infrastructure-related real estate sectors and to form part of public-private partnerships.
PME has obtained controlling interests or significant minority interests so as to carry board representation and/or meaningful investor protections in the investee companies.
The Board of PME has undertaken a review of the Company's current investments and has concluded that it would be in the best interests of the shareholders as a whole for the Company to seek to realise its existing investments in an orderly manner and return capital to shareholders and, thereupon propose that the Company be wound up.
The course of action proposed by the Board would constitute a fundamental change in business under the AIM Rules for Companies and will require the approval of shareholders. The Company intends to issue a circular setting out the details of these proposals and a notice convening a meeting of shareholders, in due course.