Issue - decisions

The Leader has, by way of written resolution, passed the following Resolutions in respect of Ubico Limited:

To APPROVE:

·         The replacement of the current Board composition with the Board composition model contained in the Board report dated 15^th August 2018 (as supplemented by the report appended to this Resolution) and to approve the outline recruitment process contained within that report.

·         The remuneration of independent Non- Executive Directors to be set at a maximum of £6,000 with flexibility to offer differentiation for the role of Chair.

The Resolutions will be effective if the other shareholding councils pass the same resolutions.