The key roles of the
Shareholder Committee are to:
Provide a public forum in which the performance of the Company can
be highlighted and monitored;
Scrutinise the affairs and performance of the company against any
Services Agreement, business plan and budget;
Influence the appointment of directors including pay packages;
Ensure that the business plan of the Company is aligned to the
strategic objectives of the Council and communicate to the Board
the practical ways in which the Company can contribute to them
Where appropriate, seek to optimise returns on investment from
trading activities whilst ensuring that trading activities are
conducted in accordance with the values of the Council;
Report to Executive on strategic matters;
Where appropriate, monitor Teckal
compliance at least annually.
Objectives and Terms
The Shareholder Committee will:
Safeguard the Council’s investment in any Company and ensure
the Company contributes to achieving the Council’s strategic
objectives and maximise outcomes in line with Council policy;
Receive, review, approve and monitor the Company’s Business
Plans and all financial and service performance reports;
Endorse any amendments to a Company’s Business Plans
Appoint and remove Company directors and ensure directors operate
in accordance with the Company’s objectives;
Agree the employment of any non-executive or external directors and
the basis on which these directors will be remunerated.
Appoint the Company auditors.
Determine the distribution of any surplus or the issue of any
dividends from the Company, in accordance with the
Shareholder’s Agreement, and exercise any other strategic
functions flowing from the Council’s ownership of shares.
Approve the allotment of further shares in a Company (whether to
third party shareholders or the Council)
Exercise any reserved powers set out in the Company’s
Shareholder Agreement and/or Articles of Association.
10.Consider any recommendation from
Company Directors to cease trading.