Notice of AGM

Jersey Electricity Plc

19 February 2024

Notice of Annual General Meeting

Following the publication of its Notice of Annual General Meeting, Jersey Electricity plc wishes to publish supplementary information to the explanatory notes which accompanied the Annual General Meeting Notice. 

The following explanatory note in relation to Resolution 11 was omitted from the Explanatory Notes section of the Notice of the Annual General Meeting.

Resolution 11 - Special business increase in maximum aggregate Non-Executive Directors remuneration

Resolution 11 relates to an increase in the aggregate maximum annual remuneration of the Non-Executive Directors to a maximum aggregate Non-Executive Directors' remuneration of £325,000. This increase is required primarily to allow for succession planning as the Chair, the Chair of the Audit and Risk Committee and the Senior Independent Director and Chair of the Nomination Committee will be reaching nine years tenure over the next 2 years. In light of this, it is anticipated that, to allow for an orderly succession, it may be that incoming independent Non-Executive Directors will be appointed prior to the retirement of the Directors they are replacing. During these periods additional fees will be incurred.

Fiona Wilson

Company Secretary

Tel: 01534 505253

Email: Fwilson@jec.co.uk