Agenda and draft minutes

Shareholder Sub Committee
Tuesday, 27th November, 2018 2.00 pm

Venue: Committee Room 2 - Epsom Town Hall. View directions

Contact: Fiona Cotter  te: 01372 732124 or email  fcotter@epsom-ewell.gov.uk

Items
No. Item

1.

Declarations of Interest

Members are asked to declare the existence and nature of any Disclosable Pecuniary Interests in respect of any item of business to be considered at the meeting.

Minutes:

No declarations of interest were made by Councillors in items on this agenda.

2.

EEPIC Shareholder Agreement pdf icon PDF 89 KB

Approval of the Shareholder Agreement for Epsom & Ewell Property Investment Company.

Additional documents:

Minutes:

The Sub-Committee received and considered a report setting out the content and implications of the draft Shareholder Agreement recommended for approval and completion with Epsom and Ewell Property Investment Company Ltd.

The report highlighted that there were a number of differences between the shareholder agreement submitted to Council in 2017 and the one before the Sub-Committee. The proposed agreement was not more or less onerous than the previous agreement but there were differences in approach and extent of obligations, which it was considered would better suit the needs of the Council as Shareholder.

Following consideration, the Committee:

(1)          Approved the draft Shareholder Agreement with Epsom and Ewell Property Investment Company subject to the deletion of clause 26 in Schedule 1 (remuneration of any employee, officer of or consultant to the company) and such other minor amendments as may be necessary as agreed by the Chief Legal Officer in consultation with the Chairman of the Shareholder Sub Committee, and

(2)          Authorised the Chief Legal Officer to complete the Shareholder Agreement.