Role: 1163 - THIS ROLE IS CLOSED
To apply for FD role click 'here'
To apply for Technology role click 'here'
Investing Non-Executive Directors and Advisory Board Members are required for our client in the Telecommunications sector, Orb Connect Ltd, based in London.
Orb Connect is a progressive company with disruptive technology which seeks to address three fundamental challenges that limit broadband coverage in rural and remote regions (base stations, backhaul and power). It is a user hosted device with TV whitespace/5g backhaul conceived to shift the cost of deploying networks from operators solely to a shared model (User-operator).
The Non-Executive Directors and Advisory Board Members will be encouraged to become shareholders in the company to align the incoming Non-Executive’s interest with that of the existing Directors who are all shareholders.
Role
Orb’s Board is seeking experienced investors to provide expertise that adds value to the goals of the company and compliments the skills of the existing team. As investors their goals are aligned with those of the Founder and the Executive. The contribution of each NED’s/Board Member or Advisory Board Member is directed towards specific goals or targets, and reward mechanisms exist for achievement (defined below). In particular, there is an expectation that they will leverage their networks to assist Orb in the achievement of its goals. The specifics around the role are developed and agreed as a balance between the existing skills and expertise in the company already; the experience the potential NED’s/Board Members brings to the table, and how best to blend these together.
Remuneration
Year 1. Compensation of 2000 ordinary shares for the role and up to a further 2,500 ordinary shares for meeting agreed objectives / milestones (share amounts to be agreed and directly related to the targets).
Year 2. Based on the financial situation of the company, it is intended that NED’s/Board Members or Advisory Board Members will be compensated at the rate of £450 per day plus receive further share awards in relation to new objectives / milestones set for the business.
Calculation of share price for Investing NED/Board Members or Advisory Board Members:
Pre money Valuation: £900k with justification below:
- Initial proof of concept via research with Sheffield University (attractive to two potential investors and positive feedback from the market, and ability to demonstrate functionality)
- KTP application in progress with Sheffield University
Investment Incentives:
- Any NED/Board Member or Advisory Board Member bringing additional investors to the company will receive a further 1000 shares for each 25k or multiple thereof.
Role - Investing NED/Board Member (Technology and Finance)
As a start-up, all NED/Board Members and Advisory Board Members have flexible roles which may see them work on projects or tasks outside the remit described below.
In addition to attending Orb Board Meetings, the core focus of the Investing NED/Board Member is to work closely with the Founders, Executives and other Investing NEDs/Advisors to ensure that the technology Orb requires to operate and grow meets the needs of the business and our customers. This includes:
1) Keeping up to date with and advising on the impact of existing and future technology on Orb’s business and growth.
2) Providing insights and advice on all technology related activities at the Board
3) Assessing, validating and advising on:
- All technology roadmap, development and implementation plans, and related activities
- Ongoing technology support and maintenance plans, and related activities
- The selection and contracting with technology partners and suppliers
- The Orb Technology budget, technology organisation and senior technology staff recruitment
In all activities, the NED/Board Member will:
-
Seek to minimise the operational and reputational risks associated with Orb’s technology landscape
-
Consider the environmental impact of Orb’s technology landscape
Closing date: Friday, 17th December 2021
