13. SHARE PREMIUM ACCOUNT

14. INTERCOMPANY TRANSACTIONS

The company has taken advantage of the exemption conferred by FRS102 Section 33 “Related Party disclosures” not to disclose transactions undertaken with other wholly owned members of the Group.

15 POST BALANCE SHEET EVENTS

Authorities were granted on 27 March 2020 to allot up to £2,000,000 nominal of shares; those authorities were replaced on 13 July 2020 by authorities to allot up to £593,750 nominal of shares. On 14 July 2020 937,500,000 ordinary shares of 0.01p were issued, raising £750,000 before costs.

Explanation of resolutions at the Annual General Meeting

Information relating to resolutions to be proposed at the Annual General Meeting is set out below. The notice of AGM is set out on page 47.

Ordinary business at the AGM

The following ordinary business resolutions will be proposed at the AGM:

(a) Resolution 1: to approve the annual report and accounts. The Directors are required to lay before the Company at the AGM the accounts of the Company for the financial year ended 31 March 2020, the report of the Directors and the report of the Company's auditors on those accounts.

(b) Resolution 2: to approve the re-appointment of MHA MacIntyre Hudson as auditors of the Company. The Company is required to appoint auditors at each general meeting at which accounts are laid, to hold office until the next such meeting.

(c) Resolution 3: to approve the remuneration of the auditors for the next year.

(d) Resolution 4: to re-appoint Norman Lott as a Director; Norman is retiring by rotation and submitting himself for re-election.

Attendance at the AGM

Due to Covid-19 and related legal restrictions and guidance from government authorities, Shareholders may not physically attend the AGM other than to form a quorum, and will not be permitted access to the venue on the day of the meeting. Shareholders are strongly encouraged to participate in the meeting by voting by proxy ahead of the meeting. Given the restrictions on attendance in person, you are encouraged to appoint the Chairman of the meeting to submit proxy votes at the meeting, rather than a named person who will not be permitted to attend the physical meeting.

Any shareholder who wishes to raise a question is asked to contact the Company on 01732 700000.

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