Investment Disposal
Exempt: Not for publication under Paragraph 3
Information relating to the financial or business affairs of any particular person (including the authority holding that information).
[The decisions on this item can be called in by the Overview and Budget Scrutiny Committee]
Additional documents:
Decision:
RESOLVED:
That Surrey County Council sells its investment in the company, as outlined in paragraph 15 of the submitted report and authority be delegated to the Chief Executive to agree such terms for the sale in consultation with the Leader and in consideration of the advice of the Director of Finance.
Reasons for Decisions:
The proposed sale of the Council’s shares will deliver a capital receipt in support of its capital programme and provide it with an option to take advantage of the financial flexibility in the use of the receipts for the funding of transformation expenditure should it choose to do so.
[The decisions on this item can be called in by the Overview and Budget Select Committee]
Minutes:
The Leader commended this disposal to Cabinet and it was unanimously agreed.
RESOLVED:
That Surrey County Council sells its investment in the company, as outlined in paragraph 15 of the submitted report and authority be delegated to the Chief Executive to agree such terms for the sale in consultation with the Leader and in consideration of the advice of the Director of Finance.
Reasons for Decision:
The proposed sale of the Council’s shares will deliver a capital receipt in support of its capital programme and provide it with an option to take advantage of the financial flexibility in the use of the receipts for the funding of transformation expenditure should it choose to do so.