Issue - meetings

RESOLVED that the exempt information in relation to the Greensand Holdings Limited Shareholder Consent Matter report be noted.

RESOLVED that the exempt information in relation to the Greensand Holdings Limited Shareholder Consent Matter report be noted.

RESOLVED that the increase in Greensand Holdings Limited borrowing limit be approved by signing the shareholder written resolution, as set out in the accompanying exempt report in the Part 2 section of the agenda.

Councillor M A Brunt introduced the report.  It was recommended that, as shareholder representative, the Commercial Ventures Executive Sub-Committee approve and sign the shareholder resolution increasing Greensand Holdings Limited’s borrowing limit which was required to be increased following the Executive approving, on 19 September 2019, a loan of funds to the Company.

RESOLVED that the increase in Greensand Holdings Limited borrowing limit be approved by signing the shareholder written resolution, as set out in the accompanying exempt report in the Part 2 section of the agenda.

Reason for decision: Approving and signing the shareholder written resolution supports the good governance of the Council-owned company by complying with the requirements of the Shareholder Agreement between the Council and the Company.

Alternative options: To not approve the increase in the borrowing limit by not signing the shareholder written resolution.