2014

Evidence on official site
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Post Office Limited — Strictly Confidential

POLB 14(6")
POLB 14/84-14/86

POST OFFICE LIMITED
(Company no. 2154540)
(the ‘Company')

Minutes of a Board meeting held on 10 June 2014
at Warren House, Warren Road, Kingston upon Thames, Surrey, KT2 7HY

Present:

Alice Perkins Chairman

Neil McCausland Non-Executive Director
Tim Franklin Non-Executive Director
Virginia Holmes. Non-Executive Director
Alasdair Marnoch Non-Executive Director
Richard Callard Non-Executive Director
Paula Vennells Chief Executive

Chris Day Chief Financial Officer

In Attendance:

Alwen Lyons Company Secretary
Chris Aujard General Counsel (by conference call)
POLB 14/84 INTRODUCTION

(a) A quorum being present, the Chairman opened the meeting and
welcomed Chris Aujard, General Counsel.

POLB 14/85 SPARROW

(a) The Board received an update on the discussions of the Sparrow Sub-
Committee on 6 June 2014.

(b) The General Counsel explained the three options considered and the
specific risks Inherent within each.

(c) The Board agreed that:

* Option 1 (continuing as is) was untenable given the challenges.
it posed to the best interests of the business and value for
money.

¢ Option 3 (moving the governance and management of the
scheme in house) was discounted because of the risk of a
challenge and possible Judicial Review.

« Option 2 (continuing with the Scheme but seeking to refine its
work within the existing Terms of Reference) was the preferred
option.

ACTION:
General Counsel

ACTION:
General Counsel

POLB 14/86

Alice Perkins

(d)

(e)

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Post Office Limited ~ Strictly Confidential

The Board gave unanimously support to Option 2. They asked the
Business to consider the best way to implement Option 2; to take legal
advice on the risks inherent with the changes proposed; and to come
back to the Board with a paper explaining the recommended next
steps.

The Board asked the Business to continue to settle cases outside the

Scheme where it made commercial and legal sense to do so.

CLOSE

There being no other business the meeting was closed.