Decision details

To approve the recommendations

RESOLVED THAT

1.    the Leader be authorised to take a decision, by way of a written resolution, to amend the Ubico Articles of Association and the Shareholder Agreement, based on the terms outlined in section 2 of the report and detailed at Appendix 2.

2.    authority be delegated to the Director of Resources, in consultation with the Leader, to finalise and complete the Ubico Articles of Association and Shareholder Agreement on terms approved by the Borough Solicitor.

3.    the founder compensation payment of £45,333 to the founder councils for each new joiner to Ubico be approved, as set out in section 4 of the report.

4.    A further review is undertaken by the Leader with regard to the informal member observer role at Ubico Board meetings