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Message
From:
on behalf of
Sent: 28/06/2019
To: Alisdair Cameron!
Subject: Re: Owen
Actually I suppose, no. I told him there were three left in the race and he hadn’t made it. I presume he will
probably assume you are one of the three.
Tim
From: Alisdair Cameron
Sent: Friday, June 28, 2019 2:39:59 PM
To: Tim Parker
Subject: RE: Owen
Thanks — am I allowed to know that?
Al Cameron
Interim Chief Executive
agar 20 Finsbury Street
London
EC2Y 9AQ
From: Tim Parker!
Sent: 28 June 2019
To: Alisdair Cameron’
Subject: Owen
Just to let you know we have now spoken re CEO search.
From: Alisdair Cameron
Sent: Friday, June 28, 2019 12:05:11 PM
To: Ken McCall! Tim Parker; Thomas Cooper; Carla Stenti-3 Shirine Khoury-Haq; Tim.Franklin-
Cc: Veronica Branton
Subject: RE: Three Updates
Thanks Ken — the first instance we have identified was in mid-May but I am not aware of any connection with
the migration and as the issue seems to be how Horizon picks up the scanning details it theoretically shouldn’t
be connected. But until we have a clear root cause I won’t make a fool of myself by saying anything very
definitive. Al
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Al Cameron
Interim Chief Executive
20 Finsbury Street
London
From: Ken McCall;
Sent: 28 June 2019 12:03
im Parker
Thomas Cooper
Cc: Veronica Branton +__
Subject: Re: Three Updates
Al
Super news on BG !
Overall good on Barclays
Is this historical cash issue or only recent since system migration?
Best regards
From: Alisdair Cameron
Sent: Friday, June 28, 2019 11:32:38 AM
To: Tim Parker; Thomas Cooper; Ken McCal
Cc: Veronica Branton :
Subject: Three Updates
I Shirine Khoury-Haq; Tim.Frankli
Dear Board
There are three areas I wanted to update you on, in addition to Owen’s good news on credit cards.
Firstly, to our real delight, Debbie, Andrew Goddard and the team have exclusively won the contract to do bill
payments for! i Hor 5 years. This will have a scale impact on Paypoint and we were anxious that they
would fight it during the period of embargo. In fact it is sufficiently serious for them that they announced it to
the Stock Exchange this morning with an immediate impact on their share price.: ‘thas asked us to
maintain an embargo on our win while they get their communications in order and of course we will do so, so
please don’t disclose further. We have a great deal to do operationally to be ready for January. However, this
will be very well received by Postmasters and gives us a great opportunity to be the preferred network for
more retailers. Congratulations to the team.
contacted Martin yesterday to say that they would be rescinding their withdrawal letter
from the Banking Framework and adding in corporate customers — but removing withdrawals which they wish
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to drive back into their own branches. We are obviously exploring this decision which will reduce our forecast
revenue by c. £1.4m in 19/20, £8m in 20/21 and possibly £12-15m in 21/22. The final confirm: e of
Banking Framework 2 is therefore now set — the only change from BF1 being this decision by
this is unhelpful it is worth remembering that BF revenues still increase from c. £95m to £180m pa before
growth, and it does reinforce our contention that the banks do have a breaking point. Postmasters will
obviously be making the point that! irrctevanr;customers can withdraw cash from accounts with 27 other
banks... 8 0 H
Thirdly, we have identified an issue on cash rems which creates differences with Postmasters — we believe
about 120 branches have been affected. We do not yet have a root cause and that is the IT priority. In addition
to contact with affected branches, full communications are going out today to reassure Postmasters that we
are aware, are resolving individual differences and there will be no adverse consequences. The GLO team is
engaged to ensure we manage this transparently and document it effectively. We have also had rumours of
issues with scanning but have no identified issues so far.
Obviously happy to take questions
Al
Al Cameron
Interim Chief Executive
20 Finsbury Street
London
EC2Y 9AQ
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