POL00145677
POL00145677
From: Parsons, Andrew
Sent: Wed 24/07/2013 6:51:15 PM (UTC)
To: Susan Crichtory
Ce: Piero D'Agostinof;
Subject: Re: Proposed letter to JLT re: Horizon
Susan
The letter does nothing more than put POL's insurers on notice of the Horizon issues. It's very bland. My only
hesitation is whether this is strictly necessary to do. From a PR perspective, it would look bad if this got into the
public domain - sign of guilt / concern from the board.
I'd be happy to have one of our insurance lawyers look over the D&O policy to see if POL is required to notify
the insurers. If not, then we might want to hold fire on this.
I would recommend tweaking the first paragraph. The current version suggests that there are problems with
Horizon - when at present there are no systemic problems to report.
It should just say that the press have reported on "potential issues with Horizon" rather "financial discrepancies
have occurred in Horizon". Apologies, the letter is a pdf so I can't make changes to the document itself.
Kind regards
Andy
Andrew Parsons
Senior Associate
Bond Dickinson LLP
Andy could you take a look at this its a draft letter to go to our insurance broker re the horizon issue. I have not looked at
it.
Thanks
Susan
From: Charles Colquhoun
Sent: Wednesday, July 24, 2013 07:23 AM
To: Chris M Day; Susan Crichton; Alwen Lyons; Piero D'Agostino
Subject: Proposed letter to JLT re: Horizon
Been discussing with Miller what we should tell JLT re: Horizon issues. We have worked up the attached version
— which hasn’t been sent — any comments? I think we should send it this week so would welcome comments over
POL00145677
POL00145677
next day or so.
Regards
Charles
Charles Colquhoun I Head of Corporate Finance
First Floor — Old Street Wing, 148 Old Street, LONDON, EC1V SHQ
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