In 2006 Cape put in place a trust, via a Scheme of Arrangement (“the Scheme”) approved by the High Court and Cape employees, that gives claimants, who are primarily former employees of Cape Group companies, peace of mind that there will always be adequate compensation available for those who suffer asbestos related diseases.

The Scheme is administered independently by two independent trustees and is designed to compensate anyone who is entitled to receive compensation as a result of exposure to asbestos. The Scheme is separately funded with the Scheme funds controlled by the independent trustees.  An actuarial assessment of the Schemes future funding requirements is carried out by independent actuaries on a triennial basis.  The most recent assessment was carried out in early 2008 and showed that the Scheme was fully funded for 13 years from 31 December 2007. Cape has a continuing obligation to top up the Scheme fund to the extent that the triennial actuarial assessments show that there is a shortfall in the Scheme funding requirement.  The next triennial assessment will be carried out in early 2011.

A link to the Scheme of Arrangement documents which provide full details of the Scheme is provided below. Cape is committed to an independent and responsible approach to dealing with the issue of asbestos related disease so that those individuals affected may have the peace of mind that there will always be adequate compensation.

- March 15 2006 - Scheme explanatory statement (882 Kb PDF)

- March 17 2006 - Circular for Scheme (161 Kb PDF)