Decision Maker: Cabinet Member for Digital and Community Inclusion
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Sale of shareholding
In accordance with the decision of Cabinet (Resources) Panel on 5 March 2019 regarding the sale of shareholdings:
1. Approved the sale of the Council’s 10% shareholding in inspiredspaces Wolverhampton (Holdings1) Limited and of its 10% shareholding in inspiredspaces Wolverhampton (Holdings2) Limited to Building Schools for the Future Investments (BSFI) for a receipt as detailed in the report.
2. Approved the Council entering into share sale agreements, deeds of termination in respect of the current shareholders’ agreements, stock transfer forms and ancillary documents necessary for the sale of shares to take effect and the terms of the repayment of any sub debt which the Council has in the companies referred to in the report.
3. Approved the future role of the Council’s Directors of the companies.
Publication date: 18/04/2019
Date of decision: 17/04/2019