Decision details

RESOLVED – that the Partner, Shareholder and Trustee Executive Sub-Committee AGREED:

(i)               To approve a further injection of equity funds into Greensands Holdings Limited. This will be effected by the subscription for additional ordinary shares up to the value of £1,300,000;

(ii)             That the Strategic Head of Legal and Governance, in consultation with the Chief Finance Officer and the Members of the Partner, Shareholder and Trustee Executive Sub-Committee be authorised to accept offers to subscribe for additional equity issued by the Company within agreed parameters;

(iii)           That the Strategic Head of Legal and Governance, in consultation with the Chief Finance Officer and the Members of the Partner, Shareholder and Trustee Executive Sub-Committee be authorised to undertake the transactional steps required to ensure that any additional equity is subscribed for and issued in compliance with prevailing company law;

(iv)           To receive a further report on the plans for Greensand Holdings Limited when the details are confirmed.