Decision details
Council Trading Company - Shareholder Agreement, Articles of Association and commercialisation update
PDF 109 KBDecision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Decision:
To approve the Shareholder Agreement for HDC Ventures Limited as set out in Appendix 1.
To approve The Articles of Association for HDC Ventures Limited as set out in Appendix 2.
Reasons for the decision:
In order that HDC can proactively pursue its intention to be financially self-sufficient by 2020, it is essential that the Council establishes a robust infrastructure within to operate a number of commercial activities. Approval of the appended Shareholder Agreement and Articles of Association enables the formation of HDC Ventures Limited as the holding company in the Council’s ‘commercial arm’. This will provide the basis for the subsequent formation of the corporate entities the Council requires to effectively deliver commercial services.
Alternative options considered:
None considered
Resource Implications:
None.
Publication date: 26/06/2017
Date of decision: 22/06/2017
Decided at meeting: 22/06/2017 - Cabinet
Effective from: 05/07/2017
Accompanying Documents: