DIRECTORS OF THE COMPANY

Garfield Sinclair
Chairman
16 Hope Road
Kingston 10, Jamaica

Nicole Foga
Director, Attorney at Law
7 Stanton Terrace
Kingston 6

Fayval Williams
Executive Director, Financial Consultant
7 Stanton Terrace,
Kingston 6

Stuart White
Director & CEO, Carlton Savannah Limited
Eleven Albion Street · PO Box 478 in the City of Port of Spain in the Island of Trinidad


15.1 GarfieldSinclair was the President & Chief Operating Officer for Dehring, Bunting and Golding (‘DB&G”) from 2002 to 2007. He was responsible for overall performance of the Operations, Treasury & Asset Trading, Brokerage, Marketing and Information Technology Units of DB&G inclusive of the subsidiaries DB&G Unit Trusts Managers Ltd. and DB&G Merchant Bank Ltd.

15.2 Mr. Sinclair also served as the Chief Financial Officer of DB&G from 1994 to 1996 with responsibility for overall Finance, Administration and Investment Services Unit, which included foreign exchange trading and monitoring the branch network.
15.3 Prior to his positions at DB&G, Mr. Sinclair was Senior Auditor at Price Waterhouse (Jamaica) from 1990 to 1993 and had responsibility for planning staffing and executing the audits of some of Jamaica’s largest financial institutions.

15.4 During 1983 to 1989, Mr. Sinclair was the owner and operator of Action Income Tax & Accounting Ltd responsible for the preparation of over 850 corporate and personal income tax returns per year. The company completed financial statements and prepared payroll and sales tax returns as part of overall compliance work for over 300 small and medium size businesses.

15.5 Mr. Sinclair’s educational achievements include Executive Certificate in Strategy and Innovation from Massachusetts Institute of Technology
Sloan School of Management, Executive Development Program at the University of Pennsylvania (Wharton), California Board of Accountancy – C.P.A Licence (non-practising), Uniform Certified Public Accounting Examination and a Bachelor of Science degree in Business Administration (Accounting) from the San Diego State University.

15.6 other current board positions include the jamaica stock exchange pension fund (board of trustees) of which he is chairman and youth opportunities unlimited. mr. sinclair also held board positions at db&g limited, db&g unit trust managers limited, the jamaica stock exchange and statistical institute of jamaica.




15.7 Fayval Williams served as Chief Investment Officer of JMMB Limited from March, 2005 to Sept, 2007 with investment responsibilities spanning the trading department, investment research, and pensions.

15.8 Also, during the period Sept, 2002 to Feb, 2004, Mrs. Williams consulted with JMMB in the areas of market risk management and investment research where she led JMMB’s efforts to develop investment research capabilities. Mrs. Williams also served as the Head of the Valuation and Pricing team for JMMB’s public offering.


15.9 Mrs. Williams consulted with the Financial Services Commission (FSC) in the area of Research and Policy.

15.10 Prior to returning to Jamaica, Mrs. Williams was Senior Vice President at Putnam Investments, in Boston, a top-10-global mutual fund manager. Her investment work spanned a broad cross-section of industries. She also had portfolio management responsibilities for an equity portfolio product and led Putnam’s efforts to incubate a market neutral hedge fund.

15.11 Mrs. Williams’s investment experience also includes approximately five years as Vice President at Wellington Management Company in Boston, Massachusetts. Her focus was on fixed income securities investment. Prior to Wellington, she was a Fixed Income Analyst at Northwestern Mutual Life Insurance Company in Milwaukee, Wisconsin and had portfolio management responsibilities for a US$3 billion portfolio. She was a member of the team that provided macro economic and market input for both the strategic and tactical portfolio decisions.

15.12 Prior to Northwestern Mutual Life, Fayval Williams interned at the Equitable Real Estate Investment Management, Inc in Chicago, Illinois. While there, she performed valuation analysis on commercial real estate properties. She also worked as an Information Systems Analyst for Morgan Stanley Inc in New York.

15.13 Mrs. Williams’ education background includes the following:
Chartered Financial Analyst (CFA); Master’s in Business Administration (MBA) from the Wharton Business School at the University of Pennsylvania; Bachelors of Arts (with honors) from Harvard University, Cambridge, Massachusets

15.14 Mrs. Williams holds the position of Executive Director of Carlton Savannah REIT (Jamaica) Limited and has overall executive responsibility for the company’s affairs inclusive of contracting service providers to ensure timely receipt of monthly payments from the Hotel Operating company, disbursement of quarterly dividends payments, on-time reporting of financial information to the Jamaica Stock Exchange and shareholders, interfacing with shareholders and the hotel operating company and negotiating the acquisition of additional Apartments.



15.15 Nicole Foga is the Managing Partner of the Law Firm of Foga Daley & Co. and heads its Telecommunications, Media & Technology Department. Her practice areas include mergers and acquisitions, regulatory compliance, franchising and software licensing.

15.16 Admitted to the Jamaican Bar in 1993, Ms. Foga is an ODASS Scholar and holds a Master of Laws Degree in Commercial Law, focusing on International Commercial Transactions and Intellectual Property, from Aberdeen University, a Bachelor of Arts Degree with First Class Honours and a Bachelor of Laws Degree from the University of the West Indies.

15.17 Ms. Foga chairs the Technology, Broadcasting and Telecommunications Committee of the Jamaican Bar Association, is a Director/Secretary of the Environmental Foundation of Jamaica (EFJ) and a Trustee for both the EFJ and the University of Technology.

15.18 Previous appointments include the first General Counsel for the Office of Utilities Regulation, Legal Advisor to the Broadcasting Commission, Crown Counsel in the Attorney General’s Department and Ministerial Advisor on telecommunications law and policy.

15.19 Previous directorships include, Cable & Wireless Jamaica Limited, Kingston and Montego Bay Free Zone and Factories Corporation of Jamaica.

15.20 Stuart White is the Managing Director and CEO of Global Development & Investment Partners Ltd, an international development company, CEO of Carlton Savannah Ltd, a company incorporated in Trinidad & Tobago and Chairman of Turtle Management Ltd, a construction project management company, and CEO of Balton Properties Limited, the Developer of the Hotel.

15.21 Formerly, Mr. White held senior positions at Goldman Sachs, Chase Manhattan Bank, ING Barings, and Credit Suisse First Boston. As Director of Business Management at Chase Manhattan, Mr. White played a leading role in the development of the European Emerging Markets business, in particular supporting the complex structured product businesses of Eastern Europe, an experience which supported his move to ING Barings as the Global Head of Business Development for Emerging Markets. Mr. White’s project management and business delivery skill were central to his appointment at Credit Suisse First Boston where he led a major business reengineering program. In his earlier career, Mr. White held the position of Head of Financial Control in London for Goldman Sachs International.

15.22 Mr. White is the Chief Executive Officer of both the Developer and the Hotel Operating Company and has agreed, at the request of the other directors, to sit on the Company’s board for the first two years of operation of the Hotel, during the period when the Interim Monthly Rent is guaranteed. His presence will allow the other directors, management and shareholders (in general meetings) direct contact with the principal force behind the creation and operation of the hotel, facilitate the seamless communication and clarification, and ensure that the Company is kept constantly up to date with developments at the Hotel. Mr. White will recuse himself from Board deliberations which may be in conflict with his role as Hotel Operator or Developer.
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