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Meeting date 2026-05-08

Entity Aurrigo International plc

Created 2026-05-08 08:25

Revisions 0

Attendees Alex Dymock, Participant 3, Participant 4, Participant 5, Participant 6, Participant 7, Participant 8, Simon Brewerton, David Keene, Peter Whiting, Participant 1, Participant 2

DRAFT

BOARD CONFIDENTIAL

Aurrigo International plc Board Meeting

8th May 2026

Commencing at [time]

Power Park, Kenilworth

Present

Mr A. Dymock (in the chair)

[Participant 3]

[Participant 4]

[Participant 5]

[Participant 6]

[Participant 7]

[Participant 8]

Mr S. Brewerton

Mr D. Keene

Mr P. Whiting

[Participant 1]

[Participant 2]

In Attendance

None recorded.

Apologies

None received.

Quorum

It was noted that a quorum was present and the meeting was declared open.

Declarations of Interest

No new declarations of interest were made.

Previous Minutes

The minutes of the meeting held on [date] were approved as a true and accurate record.

Matters Arising

The board reviewed progress on outstanding actions from the previous meeting. It was noted that Mr Brewerton had sent the KTP proposals to Mr Whiting, who confirmed receipt. The board noted that Ultra PRT and Gordon Murray PR activities remained in progress, with timing considerations being addressed regarding press announcements. The board confirmed that all three vehicles were now on site, providing the opportunity for customer demonstrations. It was noted that Mr Dymock would complete the outstanding skills matrix sessions following his absence.

1. Power Park Relocation Update

The board received a comprehensive update on the relocation to Power Park. It was reported that the handback of buildings 11, 12 and 13 to Flex Space was scheduled for Friday 17th April, with all remedial work completed except floor painting, which awaited landlord sign-off. The board noted that leases for buildings 32 and 33 were three-year terms with a February break clause, with completion expected imminently.

The board noted the planned relocation timeline, with the move scheduled for the last week of July/first week of August to coincide with the JLR/Aston Martin fortnight shutdown. It was agreed that buildings 32 and 33 would be handed back around late September following completion of remedial works.

The board received updates on operational matters including internet connectivity, security systems, facilities management arrangements, and the engagement of cleaning services on a Monday/Wednesday/Friday schedule. It was noted that a former Reed facilities manager would join the Company to handle maintenance, health and safety, and compliance matters.

The board noted that people issues arising from the move were minimal, affecting only 2-3 individuals, with the broader feedback being positive and improved cross-team collaboration observed at the new facility.

It was agreed that an RNS announcement would be issued once the leases for buildings 32 and 33 were signed, with the registered office change planned for mid-August.

Action: Mr Dymock to circulate board resolution to approve signing of leases for buildings 32 and 33.

Action: Mr Keene to prepare premises cost schedule for buildings 11/12/13 versus 32/33.

2. Senior Management Appointment

The board considered the proposed appointment of Mark (ex-Managing Director, Gatwick Ground Services) to lead external and global operations on a one-year fixed contract. It was noted that the proposed salary exceeded £100,000, requiring board approval under matters reserved.

The board noted Mark's extensive experience, having built Gatwick Ground Services from a smaller operation to 1,300 people, and his expertise in ground operations, business cases, and supplier negotiations. It was reported that he would take responsibility for all external operations, with Mr Fairchild transitioning to focus on internal operations, processes, and CAA/FAA pre-work.

Following discussion, it was agreed that [Participant 5] and [Participant 3] would conduct a Teams call with Mark before formal board approval, given the significance of the appointment. The board noted the importance of defining spending parameters and documented targets for the nine-month review.

Action: Mr Keene to arrange Teams call between [Participant 5], [Participant 3] and Mark.

Action: Mr Keene to send Mark's contract and targets documentation to [Participant 5] and [Participant 3].

3. UPS Programme Update

The board received an update on the UPS vehicle programme, noting that it had been extended by six months. Vehicle 2, incorporating new suspension and auto load/unload capabilities, was ready for delivery pending CAA approval for the transit vehicle. The board noted that Vehicle 1 required further updates, with delivery deliberately delayed by 2-3 weeks to ensure reliability.

The board discussed the mechanical challenges encountered, particularly with the Italian axles' hydraulic braking system, where unmonitored oil galleries had led to brake pack failures. It was noted that future builds would use UK-manufactured FPW axles. Brake line pressure monitors had been fitted as an interim solution.

The board noted that Luke, UPS's global head of wheeled vehicles based in Atlanta, was scheduled to visit in approximately two weeks. The board acknowledged his cautious approach given previous failed investments in autonomous vehicle companies.

4. Changi Operations

The board noted that two of four vehicles were currently down (differential failure and burnt brake packs) against a minimum requirement of three vehicles to maintain operations. The board discussed the operational challenges of conducting repairs in car park facilities without proper workshop infrastructure, highlighting the need for enhanced field support capabilities.

It was noted that despite vehicle issues, Phase 2B work remained on track, with good progress reported.

5. Strategic Partnerships and Hub Development

The board received an update on discussions with TCR (Transportes Carga Rodoviário), described as the world's largest GSE supplier/leaser with approximately £3-4 billion revenue. It was noted that TCR had approached the Company seeking alignment on autonomous vehicle strategy following customer enquiries.

The board noted that TCR's global maintenance facilities, including at Changi, could address the Company's field support requirements without requiring internal workshop infrastructure development. Mark was scheduled to meet with TCR's CEO in Brussels on 16th April.

The board discussed how such partnerships would support the hub strategy by providing sales, leasing, and maintenance capabilities through established global networks.

6. Technology Development Projects

Mr Brewerton presented updates on two Innovate UK funding applications expected to be decided within two weeks:

Sentinel Project: A ground operations awareness system to monitor ATC radio communications and prevent taxiway incursions, with funding of approximately £1 million. The board noted that CVG had agreed to host a radio listening station as the first data collection step.

Talon Project: An autonomous bonded cargo movement system led by Teesside, with the Company's share estimated at £1 million of a £4 million total project. The system would reduce cargo clearance time from approximately 30 hours to 3-4 hours.

The board noted that the Company would own all IP developed under both projects.

7. Financial Update

The board received preliminary financial information noting that March automotive revenue reached approximately £600,000 against a £480,000 budget, representing a £400,000 improvement versus the same period last year. Aviation revenue was expected to be slightly below the £80,000 budget.

The bank balance remained at approximately £10 million at the end of March. The board noted that the audit was progressing, with tax auditors beginning their review and stock valuation increased by £140,000 to date.

The annual report front end was approximately 90% complete, with board review scheduled for the week of 20th April and target completion moved to mid-May.

Action: All directors to review and comment on annual report front-end proof when circulated.

Action: [Participant 6] to complete March management accounts.

8. Five-Year Strategic Planning

Following detailed discussion, the board agreed on the need to develop a comprehensive five-year strategic plan addressing company scale, ownership transition, and leadership succession. Mr Keene acknowledged the absence of a written five-year plan and committed to drafting a narrative version for circulation before the next meeting.

The board agreed that the meeting following the next should be dedicated to strategic planning, with potential for Mark to present his initial assessment. The board discussed the importance of addressing long-term ownership and management structures, noting relevant age considerations and succession planning requirements.

Action: Mr Keene to draft five-year strategy narrative to share with the board.

9. Sales Pipeline and Business Development

The board reviewed the current sales pipeline, noting several significant opportunities:

Wayne Perry/Donata RFI submitted 10th April (potential £15 million over four years)
Vanderlande RFI for new US airport AutoSim trial (~£500K, deadline 20th April)
Amazon Air AutoSim kickoff (~£50K)
Various cargo and shuttle projects across multiple airports

The board noted renewed contact from SATS at Changi regarding automated shuttle bus procurement, with a meeting scheduled for 15th April.

Action: Mr Keene to submit Vanderlande RFI by 20th April.

Action: Mr Keene to attend SATS meeting regarding automated shuttle bus procurement.

Action: Mr Brewerton to prepare and deliver AutoSim presentation to Amazon Air.

10. Organisational Development

The board noted recent key appointments including Jan Snape (ex-Red Bull F1) to lead mechanical engineering and bring rigour to design and testing processes, and a new purchasing manager to support the PRT programme.

The board discussed the transition from prototype development to scalable production, emphasising the need for proper documentation, processes, and quality control systems. It was noted that a new JIRA-based system was being implemented across all teams to improve transparency and project tracking.

Action: Mr Keene to circulate updated organisation chart before the next meeting.

Action: Mr Brewerton to build a field fault/ticket dashboard for board reporting.

11. Board Effectiveness and Future Meetings

The board discussed restructuring future meetings around customer/markets, operations, people, and finance themes to elevate strategic discussion. It was agreed to rotate individuals to present at board meetings, with presentations scheduled at the beginning to avoid exposing attendees to confidential discussions.

Action: Mr Keene to propose revised board agenda structure for next meeting.

Action: Mr Keene to arrange for Mark to present at the next board meeting (subject to appointment approval).

Any Other Business

The board noted that Prince William had been approached to open the Power Park facility, with any event scheduled for after the end of August once the relocation was complete.

Date of Next Meeting

The date of the next meeting would be confirmed and circulated in due course.

Close

There being no further business, the Chair declared the meeting closed at [time].

# DRAFT

## BOARD CONFIDENTIAL

# Aurrigo International plc Board Meeting
8th May 2026
Commencing at [time]
Power Park, Kenilworth

## Present
Mr A. Dymock (in the chair)
[Participant 3]
[Participant 4] 
[Participant 5]
[Participant 6]
[Participant 7]
[Participant 8]
Mr S. Brewerton
Mr D. Keene
Mr P. Whiting
[Participant 1]
[Participant 2]

## In Attendance
None recorded.

## Apologies
None received.

## Quorum
It was noted that a quorum was present and the meeting was declared open.

## Declarations of Interest
No new declarations of interest were made.

## Previous Minutes
The minutes of the meeting held on [date] were approved as a true and accurate record.

## Matters Arising
The board reviewed progress on outstanding actions from the previous meeting. It was noted that Mr Brewerton had sent the KTP proposals to Mr Whiting, who confirmed receipt. The board noted that Ultra PRT and Gordon Murray PR activities remained in progress, with timing considerations being addressed regarding press announcements. The board confirmed that all three vehicles were now on site, providing the opportunity for customer demonstrations. It was noted that Mr Dymock would complete the outstanding skills matrix sessions following his absence.

## 1. Power Park Relocation Update

It was agreed that an RNS announcement would be issued once the leases for buildings 32 and 33 were signed, with the registered office change planned for mid-August.

**Action:** Mr Dymock to circulate board resolution to approve signing of leases for buildings 32 and 33.

**Action:** Mr Keene to prepare premises cost schedule for buildings 11/12/13 versus 32/33.

## 2. Senior Management Appointment

**Action:** Mr Keene to arrange Teams call between [Participant 5], [Participant 3] and Mark.

**Action:** Mr Keene to send Mark's contract and targets documentation to [Participant 5] and [Participant 3].

## 3. UPS Programme Update

## 4. Changi Operations

It was noted that despite vehicle issues, Phase 2B work remained on track, with good progress reported.

## 5. Strategic Partnerships and Hub Development

The board discussed how such partnerships would support the hub strategy by providing sales, leasing, and maintenance capabilities through established global networks.

## 6. Technology Development Projects

Mr Brewerton presented updates on two Innovate UK funding applications expected to be decided within two weeks:

**Sentinel Project:** A ground operations awareness system to monitor ATC radio communications and prevent taxiway incursions, with funding of approximately £1 million. The board noted that CVG had agreed to host a radio listening station as the first data collection step.

**Talon Project:** An autonomous bonded cargo movement system led by Teesside, with the Company's share estimated at £1 million of a £4 million total project. The system would reduce cargo clearance time from approximately 30 hours to 3-4 hours.

The board noted that the Company would own all IP developed under both projects.

## 7. Financial Update

The annual report front end was approximately 90% complete, with board review scheduled for the week of 20th April and target completion moved to mid-May.

**Action:** All directors to review and comment on annual report front-end proof when circulated.

**Action:** [Participant 6] to complete March management accounts.

## 8. Five-Year Strategic Planning

**Action:** Mr Keene to draft five-year strategy narrative to share with the board.

## 9. Sales Pipeline and Business Development

The board reviewed the current sales pipeline, noting several significant opportunities:

- Wayne Perry/Donata RFI submitted 10th April (potential £15 million over four years)
- Vanderlande RFI for new US airport AutoSim trial (~£500K, deadline 20th April)
- Amazon Air AutoSim kickoff (~£50K)
- Various cargo and shuttle projects across multiple airports

The board noted renewed contact from SATS at Changi regarding automated shuttle bus procurement, with a meeting scheduled for 15th April.

**Action:** Mr Keene to submit Vanderlande RFI by 20th April.

**Action:** Mr Keene to attend SATS meeting regarding automated shuttle bus procurement.

**Action:** Mr Brewerton to prepare and deliver AutoSim presentation to Amazon Air.

## 10. Organisational Development

**Action:** Mr Keene to circulate updated organisation chart before the next meeting.

**Action:** Mr Brewerton to build a field fault/ticket dashboard for board reporting.

## 11. Board Effectiveness and Future Meetings

**Action:** Mr Keene to propose revised board agenda structure for next meeting.

**Action:** Mr Keene to arrange for Mark to present at the next board meeting (subject to appointment approval).

## Any Other Business

The board noted that Prince William had been approached to open the Power Park facility, with any event scheduled for after the end of August once the relocation was complete.

## Date of Next Meeting

The date of the next meeting would be confirmed and circulated in due course.

## Close

There being no further business, the Chair declared the meeting closed at [time].