Business Audit and Transformation Plan

Why the Board is commissioning this work

A new Board of Directors was inaugurated on 7 October 2026. Over three days the Board visited every operating subsidiary and met the management of each. The Board requires a diagnosis prepared independently of itself, a verified baseline, and a costed plan against which it can be held to account. Proposals are invited for two workstreams.

Workstream A — Business audit

A diagnostic of the Company and of each subsidiary to establish a verified baseline, covering:

• Commercial: what each business does, its market and competitors; revenue, cost structure, margin and profitability on a verified basis; pricing; capacity against output.
• Assets and operations: a complete asset register verified by inspection; plant, equipment and facilities; maintenance; premises.
• People and capability: management roles and capability gaps; staff complement, structure and productivity; succession exposure.
• Systems, information and control: management information, accounting systems, internal controls and exposure to fraud, bank mandates and approval limits.
• Obligations and commitments: contracts, standing payment instructions, leases, capital projects, inter-subsidiary balances, litigation and contingent liabilities.
• Compliance and governance: statutory filings, corporate structure, and readiness measured against the requirements of a public listing.

Workstream B — Transformation plan

What the Board should do, costed and sequenced, including: a reasoned recommendation for each subsidiary (grow, fix, restructure, partner or close) and for the two closed units; a target operating model and management structure; a costed capability and training plan; key performance indicators with baselines and targets; a financial model to 2030; a governance, systems and controls roadmap; and a sequenced plan for the first hundred days, the first year and beyond, with a risk register.

Deliverables

• An inception report and detailed work plan within two weeks of appointment.
• A written business audit report with a verified baseline for each subsidiary.
• A written, costed and sequenced transformation plan with an executive summary for the Governing Council.
• A presentation to the Board on each deliverable.
• All underlying schedules, registers and models, in editable form, as the property of the Company.

Timetable

• Questions of clarification to the Company Secretary by Friday, 20 November 2026. Answers will be circulated to every firm that has obtained the brief.
• Proposals due by 12 noon, Friday, 4 December 2026.
• Shortlisting and presentations to the Selection Committee: week of Monday, 7 December 2026, on one week's notice.
• Appointment on or before Friday, 18 December 2026.
• Business audit delivered within ten to twelve weeks of appointment; transformation plan within six weeks of the business audit.

How proposals will be assessed

• Understanding of the assignment and quality of the proposed approach.
• Demonstrated capability in operational transformation and in financial and governance advisory.
• The calibre and availability of the named team.
• Relevant track record.
• Value for money.

The Board will take the decision on the recommendation of its Selection Committee and will minute its reasons.

Conditions

Proposals will be assessed on merit and value, not on fee alone. Any present or recent relationship between a proposing firm and the Company, the University, or any party to the Company's contracts must be disclosed. Disclosure will not of itself disqualify a firm; failure to disclose will. This notice is not an offer. The Company is not bound to accept the lowest or any proposal, is not obliged to shortlist any firm, and will not meet the costs of preparing proposals. All material provided and all information obtained in the course of the assignment is confidential. No recommendation of the consultants binds the Board.