Foundation

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• Watermark’s Directors are currently working on establishing a Charitable Foundation. It’s anticipated this process will be formalised by July 2010. Further information will be provided once this process is completed.

• The Foundation (not yet named) will be for general charitable purposes in accordance with our vision to make a positive contribution to society through philanthropic means.

• The structure of the Foundation will provide a commitment from all Directors to contribute 5% of all net surpluses derived from Watermark’s business operations to the fund on an ongoing basis.
  
  
• The Foundation will remain independent and not be politically persuaded or seek publicity. It will focus on educational and youth areas and endeavour to make a real difference to the lives of beneficiaries.