Notice of Special General Meeting

The Industrial and Provident Societies Acts 1893-1978 (as amended)

Irish Horse Board Co-operative Society Limited (the Society)

NOTICE OF SPECIAL GENERAL MEETING

A Special General Meeting of the Society will be held at the Abbeyleix Manor Hotel, Abbeyleix, Co. Laois on Thursday 5th of June 2008 at 8pm. The purpose of the meeting is as follows:-

1. Motion 1 (Resolution prepared by the Board of Directors of the Society)
To consider and (if thought fit) pass the following resolution by way of ordinary resolution:-
"That the adoption and implementation of the report on the Irish sport horse industry commissioned by the Minister for Arts, Sports and Tourism and the Minister for Agriculture and Food ("the Dowling Report") by the Board of the Irish Horse Board Co-operative Society Limited ("the Society") and all such actions and measures as may be deemed appropriate by the Board of the Society to further implement the recommendations of the Dowling Report are approved, authorised and ratified, and, without limiting the generality of the foregoing, the following are authorised, approved and ratified:-

(1) The appointment and removal from time to time of members of the Board of the Society as members of the Board of Horse Sport Ireland.

(2) The transfer of staff of the Society to Horse Sport Ireland.

(3) The transfer of responsibility for maintaining the Irish Horse Register from the Society to Horse Sport Ireland under the following conditions or such other conditions as may be deemed appropriate by the Board of the Society:-

(i) The Board of the Society plus co-optees becoming the Breeding Advisory Sub-Board of Horse Sport Ireland as from 1st of January 2008, in line with paragraph five (5) of the Dowling Report. This sub-board will advise the main board of Horse Sport Ireland on all matters relating to breeding policy. This sub-board will meet regularly but at least six times a year.

(ii) The Board of the Society will continue to nominate five (5) members to the main board of Horse Sport Ireland.

(iii) The Breeding Advisory Sub Board will provide regular reports to the Board of Horse Sport Ireland. In general if a situation arises where the main board disagrees with a decision of the sub board they will refer the matter back to the Breeding Advisory Sub Board. The main board will not substitute their decision for a decision of the Breeding Advisory Sub Board.

(iv) The Society sponsorship programmes for 2007 will be rolled over for 2008. In future years such sponsorships will be reviewed by the Breeding Advisory Sub-Board who will decide on the allocation of such sponsorships within the budget stipulated by the main board.

(v) The share capital in the Society plus the retained surplus as at December 31st 2007 will remain the property of the Society and any subscriptions for new shares (i.e. €10) will be retained by the Society.

(vi) Horse Sport Ireland will provide fee discounts to paid up members of the Society and will produce and provide copies of the Stallion and Foal books as well as other related publications free to each paid up member in the year in question.

(vii) The Society will become an affiliate of Horse Sport Ireland. The annual affiliation fee from the Society to Horse Sport Ireland will be an amount equal to the income from the annual membership fees (currently €25 per member) derived by the Society in the year in question.

(viii) The Society will continue to operate the Sport Horse Breeders Skillnet. Horse Sport Ireland will provide accommodation at their National Office in Naas for the staff person employed as Skillnets Co-ordinator. The services of Horse Sport Ireland's Breeding Manager, Training and Education Manager and Finance Manager will be made available to the Society to oversee the running of this programme, acting under the direction of the steering committee established by the Society.

(ix) Horse Sport Ireland will also provide staff and resources to the Society to provide the following functions:

• Service the Board of Directors of the Society and ensure that the Society is compliant with all regulatory requirements.
• Maintain the membership database.
• Organise the Society elections to Horse Sport Ireland's board of Directors and therefore the Breeding Advisory Sub Board.
• Produce accounts for the Society

(x) Horse Sport Ireland will take responsibility for insurance matters relating to the Society.

2. Motion 2 (Resolution prepared by requisitioners)
To consider and (if thought fit) pass the following resolution intended to be moved at the meeting, notice of which is given by the Society pursuant to Rule 38 of the Rules of the Society on the requisition of certain members:-

"That the Board and Executive of the Society continue as before to carry on the business of the Co-op as set out in the Rules of the Society (Rule 4 of the objects) and not transfer any of these functions or any of the Co-op finances to any other body without the prior approval of the Shareholders."

IMPORTANT NOTICE:-

(1) In accordance with Rule 5 of the Rules of the Society no member of the Society shall be entitled to attend or vote at the Special General Meeting who did not pay the current Annual Membership Fee on or before 28th day of February 2008.

(2) Save as provided for in Section 41 of The Industrial and Provident Societies Act 1893 (voting by registered society or other bodies corporate) voting by proxy shall not be admissible.

(3) No person shall be admitted to the meeting without evidence of identification (including passport, driving licence or other photographic identification) satisfactory to the Secretary. All members intending to attend should ensure that they have available a passport, driving licence or other photographic identification.

Dated 24th day of May 2008.

M1246CM-015

Signed:- 
Nicholas Finnerty, Director General