To remove and appoint council directors to Hoople and Cyber Quarter

That:

a)    Rachael Hart and Ross Cook are appointed to the Board of Directors of Cyber Quarter Ltd;

b)    Hilary Hall and Tracey Sampson are appointed to the Board of Directors of Hoople Ltd; and

c)    Standard form contract for service and deed of indemnity is issued to each new director as a condition of their appointment.

1.     The alternative is to continue with either the existing Directors or appoint external non-executive directors.

2.     It is not considered that the existing Directors have the time/capacity to dedicate to the operation of each company especially in the case where there appears to be no executive directors on the Board of Directors.

3.     It is considered that alternative third party directors could benefit the companies but such a decision should be considered and taken with the other shareholders. Additional directors (whether executive or non-executive) can be appointed jointly in addition to the existing shareholder appointed directors.