Companies Act 2006 Section 430(2B) Statement for James Gilmour
Further to our announcement on 24 August 2020, James Gilmour has stood down as a director and has resigned from his employment with the Company. The following information is provided in accordance with section 430(2B) of the Companies Act 2006.
Pursuant to his service agreement, James’ notice period is 9 months. However, the Company has agreed that James will not serve out his full notice period. His employment will terminate on a date to be agreed once his handover has been completed, which will be no later than 31 March 2021.
In accordance with the terms of his service agreement, James will receive salary and benefits (but not bonus or incentive awards) in the normal way during his notice period. If the agreed termination date is before 31 March 2021, James will be paid in lieu of his salary until that date.
James remains entitled to be paid the 2020 bonus payment of £84,000 which was disclosed in the 2020 Annual Report.
All other bonus and incentive awards have lapsed.
Other than the amounts disclosed above, James will not be eligible for any remuneration payments or payments for loss of office.