AGM Postponed Due to Weather and Travel Conditions

Many thanks to you all for your continued support in the extraordinary weather conditions. The number of proxy votes returned has been high and we are appreciative that so many of you have taken the opportunity to ensure that your vote was lodged ahead of today’s cut off time.

Quite apart from the care and consideration of our members’ safety, it is important that the right democratic decisions are taken and for that we need everyone who wishes to attend the AGM to be able to attend.

I am advised by our lawyers that, as the AGM for Sunday has been properly and validly called, it is (strangely, even by our lawyers’ own admission) not possible legally to cancel the meeting. However, given the weather conditions and the importance of shareholder participation and discussion of the matters and resolutions proposed at this Sunday’s AGM, I propose to open the AGM myself on Sunday and, with sufficient proxies already received to constitute a quorum, I propose to exercise the discretion delegated to me under our articles to adjourn the meeting to Saturday 10 March 2018, at the same time and venue as the original notification outlined.

The extenuating weather circumstances have brought about an unprecedented position, which we have had to work with to the best of our ability, taking into account the travel advice and also venue availability for an alternative date. I would also note that Sunday, 11th March, is Mothering Sunday, traditionally a family day for our members.

I hope you agree that this is a fair and sensible decision and I very much hope to see you at the reconvened AGM on Saturday 10 March 2018.

Yours sincerely

Eleanor Cannon Chair