Collection House Group. Purchased Debt Ledger Investment Committee Charter

Transcription

1 Cllectin Huse Grup Purchased Debt Ledger Investment Cmmittee Charter

2 DOCUMENT CONTROL Endrsement Dc # Current Versin Apprval Date Apprved By Review Perid Authr CHG /2016 CLH Bard Annual Chief Financial Officer/ Chair f PDL Investment Cmmittee Class 5 Versin Cntrl Dc # Title Versin Revisin Authr/Mdifier Date CHG 104 Purchased Debt Ledger Investment Cmmittee Charter 1 11/2017 Cmpany Secretary 2017 Cllectin Huse Limited Page 1 f 5 Dc. CHG 104 Purchased Debt Ledger Investment Cmmittee Charter

3 PURCHASED DEBT LEDGER INVESTMENT COMMITTEE CHARTER ROLE The rle f the Purchased Debt Ledger Cmmittee (the Cmmittee) is t assist the Bard f Directrs (the Bard) fulfil its respnsibilities t members f Cllectin Huse Limited (the Cmpany) in relatin t the purchase f debt ledgers frm bth frward flw and spt purchases. OBJECTIVES The Cmmittee s bjectives include assisting the Bard discharge its respnsibility t exercise due care, diligence and skill in relatin t: Receiving apprpriate dcumentatin prepared fr debt ledger purchases, including an investment memrandum and reviewed sale and purchase agreement; Undertaking apprpriate due diligence n the infrmatin prvided by vendrs f purchased debt ledgers; Assessing the advantages and disadvantages f prpsed debt ledger purchases; Determining the risk appetite fr the purchase; Apprving the ratinale, pricing and structure f any debt sales t be undertaken by the Cmpany Apprving funding available fr debt ledger purchases Reviewing and, where necessary, amending the pricing methdlgy, strategy and apprving the price t be paid fr debt ledgers; and Reviewing the nging perfrmance f previusly purchased debt ledgers against riginal pricing Sale f ledgers and valuatin f PDLs Valuatin f PDLs at December and June DUTIES AND RESPONSIBILITIES The Cmmittee s duties and respnsibilities shall include: Reviewing the prcesses undertaken by executive management fr debt ledger purchases Cllectin Huse Limited Page 2 f 5 Dc. CHG 104 Purchased Debt Ledger Investment Cmmittee Charter

4 Reviewing and amending frm time t time the authrisatin limits exercised by executive management fr the purchase f debt ledgers. Meeting as ften as necessary t ensure that adequate cnsideratin is given during each stage f ptential debt purchases t inter alia risk appetite, pricing, investment funding, resurces, cmparables and any ther issues affecting the predicted utcme f each purchase. Ensuring a gd understanding at Bard level f the pricing mdels, cllectins methdlgy and nging perfrmance f all debt purchases made by the Cmpany. Cnsulting the Bard whenever a prpsed transactin is ptentially high risk, utside the Cmpany s nrmal types f purchase, r likely t have a significant effect n resurces r funding. MEMBERSHIP The Purchased Debt Ledger Investment Cmmittee will cmprise f at least three (3) Nn- Executive Directrs, a majrity f whm are Independent Directrs. A qurum will be tw members. The Bard will appint the Cmmittee Chair wh must be a Directr. The Chair f the Cmmittee shall preside ver the meetings f the Cmmittee which will be held when debt ledger purchases require apprval and will reprt t the Bard the actins and recmmendatins f the Cmmittee. The Chair r Cmmittee may appint a substitute Chair if the Chair is unable t attend a meeting f the Cmmittee. Such substitute Chair shall be a Directr. AUTHORITY The Bard authrises the Cmmittee t act in a nn-executive rle t investigate any activity within its Charter. It is authrised t seek any infrmatin it requires frm any emplyee and all emplyees are directed t c-perate with any request made by the Cmmittee. The Cmmittee is authrised by the Bard t btain legal r ther independent external prfessinal advice r cnsultants, and t secure the attendance f utside parties with relevant experience and expertise if it cnsiders this necessary. Subject t Bard apprval, t d such ther things and take such ther actins as are necessary r prudent t fulfil the respnsibilities f the Cmmittee. Undertake ther related activities referred t the Cmmittee by the Bard. ADMINISTRATION OF THE COMMITTEE T seek the assignment, secndment r appintment f administrative persnnel necessary t assist the Cmmittee in perfrming its respnsibilities. The CEO and CFO alng with ther apprpriate invitees shall nrmally attend meetings Cllectin Huse Limited Page 3 f 5 Dc. CHG 104 Purchased Debt Ledger Investment Cmmittee Charter

5 The Chairman f the Cmmittee shuld reprt frmally t the Bard and prvide a summary f the Cmmittee s wrk, deliberatins and results. The CFO r such ther persn as the Bard may appint shall be the designated Secretary t facilitate the administrative functins f the Cmmittee. The respnsibilities f the Secretary include preparing and sending ntices f meetings and agendas, recrding the minutes f meetings f the Cmmittee and perfrming any ther administrative duties deemed necessary by the Cmmittee. MEETINGS The Cmmittee will meet n a needs basis t apprve the purchase f debt ledgers. The Chairman f the Cmmittee may call a meeting f the Cmmittee at any time, r if s requested by any member f the Cmmittee. All Bard members are invited t attend meetings f the Cmmittee in an unfficial capacity. Where the Cmmittee requires a Directr, Senir Executive r emplyee t attend a meeting in a frmal capacity, the Cmmittee will fllw the prcess cntained in the "Invitatin t Bard and Sub-Cmmittee Meeting Prcedure". Minutes shall be circulated t all members f the Cmmittee as sn as practicable after each meeting and thereafter, fllwing apprval by the Chair, t all members f the Bard. MEETING AGENDAS The Cmmittee at each f the meetings shuld cnsider the fllwing matters: Review and apprve Minutes f the previus meeting. The infrmatin memrandum, pricing mdel and ther dcumentatin prepared in supprt f purchased debt ledger purchases. Review peridically the perfrmance f existing purchased debt ledgers, particularly where such perfrmance varies significantly frm riginal pricing r revised frecasts. The frmulatin f reprts and recmmendatins t the Bard. Perfrm such ther functins and cnsider such ther matters deemed necessary by the Cmmittee t fulfil its respnsibilities. EVALUATION AND REVIEW OF THE COMMITTEE The Cmmittee shall: Evaluate its wn perfrmance (bth f individual members and cllectively) n an annual basis having regard t its functins, rles, respnsibilities and wrk t determine whether it is functining effectively and has discharged its respnsibilities as set ut in this Charter. The results f this evaluatin will be reprted t the Bard. Obtain feedback frm the Bard n the effectiveness f the Cmmittee Cllectin Huse Limited Page 4 f 5 Dc. CHG 104 Purchased Debt Ledger Investment Cmmittee Charter

6 The Cmmittee shall review the cntinuing relevance f the Charter n an annual basis. Where changes are deemed necessary they will be submitted t the Bard f Directrs fr endrsement Cllectin Huse Limited Page 5 f 5 Dc. CHG 104 Purchased Debt Ledger Investment Cmmittee Charter