To elect a chairperson for the committee

Cllr Lester was proposed by Cllr Gandy and seconded by Cllr Graham Biggs.  The vote was carried and Cllr Lester was elected as Chairman of the Shareholder committee.

Apologies were received from Tracey Sampson (Director of Human Resources and Organisational Development) and Rachael Hart (Head of strategic Finance).

Apologies were also received from non-committee members Cllr Liz Harvey (Group Leader for the Independents for Herefordshire) and Cllr Bob Matthews (Group Leader of the True Independents).

To receive declarations of interests in respect of Table A, Table B or Other Interests from members of the committee in respect of items on the agenda.

None.

To adopt the guidance document as being the detailed framework that business planning and financial and performance information is reported by the companies to the Shareholder Committee.

The Chair introduced this report noting that this item is seeking to adopt the guidance document as being the detailed framework that business planning and financial and performance information is reported by the companies to the Shareholder Committee.

Cllr Stoddart noted that the report sets out the best practice guidelines that should be adopted by both organisations.  The committee are asked to agree the three recommendations as set out in the report.

The chair proposed that the recommendations be agreed.

It was unanimously resolved that:

a)         The Council’s requirements for annual business planning for the                         companies shall follow the detailed Guidance;

b)         Financial and performance information shall be reported to this Committee as set out in the guidance document; and

c)         Notes the guidance in respect to decision making for and within the companies.

.

An update to the Shareholder Committee

For the Hoople Ltd update and Cyber Quarter Limited update items on the agenda, the Chair proposed a vote that the meeting now move into private session.  This being due to the reports containing information relating to the financial or business affairs of any particular person (including the authority holding that information)

It was unanimously resolved that:

a)    under section 100(A)(4) of the Local Government Act 1972, the public be excluded from the meeting for the following item of business on the grounds that it involves the likely disclosure of exempt information as defined in Schedule 12(A) of the Act, and it is considered that the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

An update to the Shareholder Committee.

It was unanimously resolved that:

a)    under section 100(A)(4) of the Local Government Act 1972, the public be excluded from the meeting for the following item of business on the grounds that it involves the likely disclosure of exempt information as defined in Schedule 12(A) of the Act, and it is considered that the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

Before closing the public meeting, the Chair noted that the next scheduled Shareholder Committee meeting will be on 14 October 2024 at 10am