Board resolution of Central and Sheerwood PLC

  CENTRAL & SHEERWOOD PLC

Pursuant to the authority given by Article 100 of the Company's Articles of Association we, the undersigned, being all the directors for the time being of Central & Sheerwood PLC entitled to vote upon such resolution hereby resolve:—

"THAT  the payment to Mr Geoffrey Robinson of the sum of £150,000 (one hundred and fifty thousand pounds) as remuneration for the period from 29 July 1987 to 31 December 1990 and in recognition of his contribution, as Chairman of Holcombe Holdings PLC, in the turnaround in profitability at A L Dunn & Company Limited and Coventry Apex Engineering Company Limited be and is hereby approved."

Signed:—

I R Maxwell        Date

R J Rimington      Date

[Signature]     19 December 1990

C J Emson        Date

[Signature]     19 December 1990

J R K Bowdidge      Date

K F H Maxwell      Date