URL: https://cmttpublic.cheshirewestandchester.gov.uk/ieDecisionDetails.aspx?ID=2020

Decision Maker: Finance and Legal Portfolio Holder

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: Yes

Purpose: The report sets out the basis for the Council, acting in its capacity as shareholder, to exercise the “Put Option” pursuant to the Shareholder Agreement between the Council and Equans and CoWest Services Limited (referred to as Qwest Services in the document).

Content: The report sets out the basis for the Council, acting in its capacity as shareholder, to exercise the “Put Option” pursuant to the Shareholder Agreement between the Council and Equans and CoWest Services Limited (referred to as Qwest Services in the document). That:   1)         the recommendation that the Council serves an Exercise Notice to Equans, to exercise its Put Option to sell the Council’s shares in Qwest Services to Equans be approved; 2)         the sale of Council shares in Qwest Services to Equans for a peppercorn sum of £1 per B share held by the Council (£49 of the total allocated and paid shares of £100) be approved; 3)         the recommendation to register the Council’s exit from Qwest Services with Companies House once the above steps are completed be approved; and 4)         the recommendation to register the Council’s exit from Qwest Services Limited with Companies House be approved. As set out in detail in section 3 of the report (paragraphs 3.1 to 3.7). 1)            As an alternative to exercising the Put Option, the Council could request from the shareholders of Qwest Services, that its articles of association and its Joint Venture Agreement be amended to move its board meeting to a less frequent basis, with the focus being on conducting purely administrative matters for Qwest Services. The administrative matters would include filling company accounts. 2)            The other option would be for the Council to maintain the status quo which would require the Council to attend board meetings frequently. This would entail the current Qwest Services Board members to contribute valuable time with little discernible outputs or matters to discuss at each board meeting. 3)            However, both of these options would incur further cost to the Council and so are not recommended (see section 7).

Date of Decision: December 1, 2025