URL: https://committees.exeter.gov.uk/ieDecisionDetails.aspx?ID=2546

Decision Maker: Executive, Council

Outcome:

Is Key Decision?: No

Is Callable In?: No

Purpose: To consider the report summarising the council’s interests in companies, details of who fills the key roles in respect of interaction with the company and how this worked will be governed in the future. .

Content: To consider the report summarising the council’s interests in companies, details of who fills the key roles in respect of interaction with the company and how this worked will be governed in the future. . Agreed:   Exeter City Group Limited   RECOMMENDED that Council approve:-   (1)  to grant delegated authority to the Chief Executive as shareholder representative to issue and sign the written special resolutions in Appendix 1 of the report to amend the Articles of Association of Exeter City Group (ECG) and Exeter City Living (ECL) to:-   a)    reduce the objectives of both companies to holding and managing property; b)    operate with a minimum of one Director; c)to delegate authority to the Chief Executive as shareholder representative to make any further amendments to the constitutional documents of ECG and ECL and where appropriate any subsidiaries of ECG to reduce the company structure to a single company; d)to delegate authority to the Chief Executive as shareholder representative to wind-up and dissolve the dormant subsidiaries of ECG namely Exeter City Homes Limited and Exeter City Living Property Limited and, at a later date ECG, itself; e)to approve the Business Plan for 2025-26; and f)  to delegate authority to the Strategic Director for Corporate Resources to annually agree the management fee percentage with the Director of ECL to ensure that the Company remains solvent but does not generate profits.   Exeter Business Centre Limited   RECOMMENDED that Council approve:-   (2)  the initiation of a review of Exeter Business Centre to consider whether it is still meeting the objectives set for it when originally established; and (3)  a budget of up to £10,000 to conduct the review funded from the General Fund Balance.   All Companies   RESOLVED that the Executive approves:   (4)  to grant delegated authority to the Chief Executive to appoint Directors and Client Leads (where appropriate); (5)  to grant delegated authority to the Chief Executive in consultation with the Leader of the Council, to appoint Shareholder Representatives; and (6)  that an update report be provided to the Executive and Council in six months’ time to update Councillors on the performance of each Company.   Reason for Decision: As set out in the report.        

Date of Decision: January 14, 2025