Issue - meetings

AGREED that:

a)      the Council’s Chief Executive John Robinson, be appointed as Shareholder Representative for the Council in relation to Arkwood Developments Limited to attend General Meetings of the Company and vote on behalf of the Council in its capacity as Shareholder, in accordance with recommendations 2 and 3 below;

b)      the Shareholder Representative to have delegated authority to note and receive reports at General Meetings of the Company, and to vote in relation to administrative matters such as confirming the appointment of auditors at the Annual General Meeting; and

c)      the Shareholder Representative to have delegated authority to vote on substantive matters at General Meetings of the Company on the specific direction of Executive Shareholder Committee.

The Executive Shareholder Committee considered the report of the Assistant Director, Legal and Democratic Services, which sought the appointment of the Council’s Chief Executive as Shareholder Representative for the Council in relation to Arkwood Developments Limited. The Chief Executive would then be able to attend General Meetings of the Company and vote on behalf of the Council in its capacity as Shareholder, subject to the specific direction of Executive Shareholder Committee where appropriate as set out in the recommendations to this report.

AGREED      (unanimously) that:

a)            the Council’s Chief Executive John Robinson, be appointed as Shareholder Representative for the Council in relation to Arkwood Developments Limited to attend General Meetings of the Company and vote on behalf of the Council in its capacity as Shareholder, in accordance with recommendations 2 and 3 below;

b)            the Shareholder Representative to have delegated authority to note and receive reports at General Meetings of the Company, and to vote in relation to administrative matters such as confirming the appointment of auditors at the Annual General Meeting; and

c)             the Shareholder Representative to have delegated authority to vote on substantive matters at General Meetings of the Company on the specific direction of Executive Shareholder Committee.

Reasons for Decision

The Chief Executive is lead officer for the Council in relation to liaison with Arkwood Developments Limited and attends Board Meetings in this capacity and is therefore best placed to represent the Council at General Meetings. This delegation will also enable the efficient dispatch of business at General Meetings.

Options Considered

The Executive Shareholder Committee could elect to nominate a Cabinet Member to undertake this function.