The Board of Phoenix Beverages Group strives to achieve the utmost level of responsible conduct and best practice, as guided by the Code of Corporate Governance for Mauritius. Accordingly, Phoenix Beverages Group fosters a culture that values and rewards the highest standards of ethics as well as personal and corporate integrity. It is also the Company’s policy that Directors, employees, shareholders and officers as well as all other stakeholders observe the highest standards of ethics.
Phoenix Beverages Limited (“Phoenix Beverages Group” or the “Company”), incorporated on 9 September 1960, is a public interest entity as defined under the Financial Reporting Act 2004. The company is also listed on the Official Market of the Stock Exchange of Mauritius Ltd. The Corporate Governance Report sets out how Phoenix Beverages Group has applied the principles contained in the National Code of Corporate Governance for Mauritius (2016) (the “Code”).
The Board of Directors affirms its commitment to ensuring that good governance principles are entrenched throughout the Phoenix Beverages Group and reflected in all of its business activities.
Thus, throughout the year ended 30 June 2021, to the best of the knowledge of its Board of Directors, Phoenix Beverages Group has complied with the Code. The Company has applied all of the principles set out in the Code.
Phoenix Beverages Limited is listed on the Official Market of the Stock Exchange of Mauritius Ltd and as at 30 June 2021, there were 2151 shareholders recorded in the share register of the Company.
The stated capital of the Company is made up of 16,447,000 ordinary shares of Rs10.00 each.
The cascade holding structure is as follows:
* IBL Ltd is the ultimate holding company of Phoenix Beverages Limited
Risk is an unavoidable aspect of value creation. However, effective and timely risk management can mitigate risks to acceptable levels and maximize the identified opportunities.
The Board of Directors is ultimately responsible for ensuring that risks are managed within the risk appetite it has set, and for reviewing the adequacy of risk management practices and internal controls.
Our approach to risk management is a continuous process of analyzing and managing the opportunities and threats that can impact on both immediate operational performance and long-term value creation.
We classify risks into external and internal. External risks relate to those over which we have little or no control, such as the broader macroeconomic environment and the markets in which we operate. We have more control over our internal risks, which relate more to the Group’s operations, such as a breakdown in our internal procedures, mechanical issues with production equipment and non-compliance with applicable laws and regulations.