Decision details

Future Arrangements in Respect of Neath Port Talbot Council Shareholding in Baglan Bay Company Limited and Coed Darcy Limited

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decision:

1.           That the provisions set out in the Shareholders Agreement for Baglan Bay Company Limited be implemented, and St Modwen be offered back its shares in Baglan Bay Company Limited, with the Chief Executive resigning from the Company once the legal documentation is in place.

 

2.           That the Council decline the offer of shares from the Prince’s Foundation in respect of Coed Darcy Limited, and that the Council implement the provisions set out in the Shareholding Agreement for Coed Darcy Limited, which requires St Modwen to acquire the Council’s share for £1. In addition, the Chief Executive to resign from the Company once the legal documentation is in place.

 

3.           That the Head of Legal Services, in consultation with the Leader or appropriate Cabinet Member finalise the legal documentation in respect of the above transactions.

 

Publication date: 05/02/2020

Date of decision: 05/02/2020

Decided at meeting: 05/02/2020 - Cabinet

Accompanying Documents: