- (a) an individual whose net worth is at least CI$800,000 or its equivalent in any other currency; or
- (b)any person that has total assets of not less than CI$4,000,000 or its equivalent in any other currency.
- (a) regulated by the Authority;
- (b) regulated by a recognised overseas Authority;
- (c) any of whose securities are listed on a recognised securities exchange; or
- (d) who:-
- (i) by virtue of knowledge and experience in financial and business matters is reasonably to be regarded as capable of evaluating the merits of a proposed transaction; and
- (ii) participates in a transaction with a value or in monetary amounts of at least CI$80,000 or its equivalent in any other currency, in the case of each single transaction.
STAGE 2 is where we are trying to make a judgment as to how likely or how quickly our appraisal value will grow through either increases in NAV or EPS. We look at the track record of the people running the business to see what rate of growth they have achieved in the past and whether industry dynamics are likely to allow that to continue, whether their interests are closely aligned with shareholders, have they looked after minority shareholders in the past, and have they been candid with shareholders. Often, though not always, we will meet with senior managers at the firms in which we invest.