Issue - meetings

Shareholder Actions - Greensand Holdings Limited

Meeting: 17/09/2020 - Partner, Shareholder and Trustee Executive Sub-Committee (Item 13)

13 Shareholder Actions - Greensand Holdings Limited

To undertake actions on behalf of the Council with regard to shareholder functions for Greensand Holdings Limited.

Supporting documents:

Decision:

RESOLVED that:

i.         the Greensand Holdings Limited’s Directors’ Report and Audited Financial Statements for the year ended 31 December 2019 be received;

ii.        the re-appointment of Kreston Reeves LLP as auditor for Greensand Holdings Limited for the year to 31 December 2020 be approved;

iii.       for the auditor appointed to Greensand Holdings Limited in (ii) above, the Directors of the Greensand Holdings Limited be authorised to fix the auditors’ remuneration for the year to 31 December 2020;

iv.       the departure of John Jory as Director of the Company with effect from 31 July 2020 be noted;

v.        the appointment of Councillor R Michalowski as a Director of Greensand Holdings Limited be approved and the appointment be confirmed in writing to the Company; and

vi.       Councillor T Archer be authorised to sign on behalf of the shareholder, RBBC, the shareholder ordinary resolution confirming i. to v above.

Minutes:

Councillor T Archer confirmed that the Commercial Ventures Executive Sub-Committee as shareholder representative for Greensand Holdings Limited should review, note, approve and authorise the following recommendations, set out in the report, in order the Council’s company could meet its obligations under the Companies Act 2006 and its constitution:

Recommendations

i.         receive the Company’s Directors’ Report and Audited Financial Statements for the year ended 31 December 2019 set out in the exempt Part 2 section of the agenda;

ii.        approve the re-appointment of Kreston Reeves LLP as auditor for Greensand Holdings Limited for the year to 31 December 2020;

iii.       for the auditor appointed to Greensand Holdings Limited in (ii) above, approve the Directors of the Company to fix the auditors’ remuneration for the year to 31 December 2020 as set out in the exempt Part 2 section of this agenda;

iv.       note the departure of John Jory as Director of the Company with effect from 31 July 2020;

v.        approve the appointment of the new Director of Greensand Holdings Limited and confirm the appointment in writing as set out in the exempt Part 2 section of this agenda; and

vi.       authorise Councillor T Archer to sign on behalf of the shareholder, RBBC, the shareholder ordinary resolution confirming i. to v above as set out in the exempt Part 2 section of the agenda.

RESOLVED that:

i.         the Greensand Holdings Limited’s Directors’ Report and Audited Financial Statements for the year ended 31 December 2019 be received;

ii.        the re-appointment of Kreston Reeves LLP as auditor for Greensand Holdings Limited for the year to 31 December 2020 be approved;

iii.       for the auditor appointed to Greensand Holdings Limited in (ii) above, the Directors of the Greensand Holdings Limited be authorised to fix the auditors’ remuneration for the year to 31 December 2020;

iv.       the departure of John Jory as Director of the Company with effect from 31 July 2020 be noted;

v.        the appointment of Councillor R Michalowski as a Director of Greensand Holdings Limited be approved and the appointment be confirmed in writing to the Company; and

vi.       Councillor T Archer be authorised to sign on behalf of the shareholder, RBBC, the shareholder ordinary resolution confirming i. to v above.

Reason for decisions:

i.         The Commercial Ventures Executive Sub-Committee, as shareholder representative for Greensand Holdings Limited (the Company), acknowledged receipt of the Directors’ Report and Audited Financial Statements for the year ended 31 December 2019 to comply with the Shareholder Agreement between the Company and RBBC;

ii.        The shareholder representative approved the re-appointment of Kreston Reeves LLP as auditor for Greensand Holdings Limited for the year to 31 December 2020 in order to comply with Section 485 of the Companies Act 2006;

iii.       The shareholder representative, for the auditor appointed to Greensand Holdings Limited in (ii) above, approved the Directors of the Company to fix the auditors’ remuneration for the year to 31 December 2020 to comply with Section 492 of the Companies Act 2006;

iv.  ...  view the full minutes text for item 13