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Annual Management Retreat (AMR),
Offsite Corporate Team

The Annual Management Retreat ("AMR") was held on first weekend of August in Miami and the theme this year was "Checkpoint: Unleashing talent". The Meeting, attended as usual by all the managers of the Company plus certain invitees, started after lunch on Friday with introductory remarks by the CEO followed by in-house presentations by the CFO, the COO and the CIO. Each session was followed by time for Q&As which led to fruitful exchanges between all the attendants. The AMR was formally opened Saturday morning with a welcome by the Chairman of the Board and by the CEO. The presentations and activities on Saturday were led by external consulting firm Inspired Inc. with whom we have been working for the last four years. The focus this year was more on engaging the attendants in planning and envisioning the future growth of the Company rather than on the presentation of management tools and leadership skills. On Sunday all the attendants convened for an outing to the Oletta River State Park. The ride itself was a test of endurance due to the lack of A/C in the bus. At the park the participants were divided into four teams to take part in the "Amazing Adventure Race" in which the Blue Team achieved a very narrow but well deserved victory. It was all in all a very enjoyable day that allowed many of the participants to get to know each other (some meeting for the first time) in a completely different environment to what they are used to.

Annual Management Retreat (AMR), Offsite Corporate Team