Issue - meetings
Think Local 4 Business: proposal to incorporate into a company limited by shares and for the Council to become a Founder Shareholder
Meeting: 14/03/2012 - Cabinet (Item 144)
PDF 314 KB(The Report of the Portfolio Holder for Economic Development and Enterprise)
Minutes:
The Report of the Portfolio Holder for Economic Development and Enterprise seeking to obtain approval to proceed with the incorporation of Think Local 4 Business and to transfer the current assets of the project which are currently under the legal ‘guardianship’ of Tamworth Borough Council over to Think Local Limited, the proposed vehicle for the project’s incorporation, and to also obtain approval for Tamworth Borough Council to become a Founder Shareholder in Think Local Limited and to take up the option of a seat on the company’s Board of Directors was considered.
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RESOLVED: |
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That: |
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1 |
The incorporation and asset transfer (including one-off grant funding of £10,000) to the new company as soon as reasonably practicable be approved, and; |
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2 |
The Council to become a Founder Shareholder in the company and to take up a seat on the company’s Board of Directors be approved. |
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(Moved by Councillor M Oates and seconded by Councillor M Greatorex) |
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