Issue - meetings

Review of the Ubico Shareholder Agreement & Ubico Board Member Appointments

Purpose:

To seek approval to agree a new UBICO Shareholder Agreement and Ubico Board Member Appointments.

Recommendation(s):

That the Executive resolves to:

1. Approve the termination of the shareholders’ agreement between the following local authority shareholders:

a. West Oxfordshire District Council

b. Cheltenham Borough Council

c. Cotswold District Council

d. Forest of Dean District Council

e. Stroud District Council

f. Tewkesbury Borough Council

g. Gloucester City Council; and

h. Ubico Ltd

that was entered into in January 2020 (the “2020 Shareholders’ Agreement”).

2. Approve the proposal described in this report to enter into a replacement Shareholders’ Agreement between the above parties in the form set out in exempt Annexe B to this report.

3. Approve the proposal described in Exempt Annex D to this report in relation to the number of votes for each shareholder, further amending the agreement set out in Exempt Annex B.

Additional documents:

Minutes:

Councillor Andy Graham, The Leader of the Council, introduced the item, the purpose of which was to seek approval to agree a new UBICO Shareholder Agreement and Ubico Board Member Appointments.

Councillor Graham proposed accepting the recommendations of the report.

Councillor Enright seconded the proposal.

This was voted on and approved unanimously.

RESOLVED:

That the Executive:

Approve the termination of the shareholders’ agreement between the following local authority shareholders: