Purpose

Approval of the reserved matter below to allow
AGHL to progress with paying the interim dividend of £681K
for 2024/2025 to the Shareholder in order to meet the total Council
Returns target set of £1m for the financial year
2024/2025

• Reserved Matter 32 - Declaring or paying any end of year
dividend of the Company (where applicable)

Decision

To approve the reserved matter below to allow
AGHL to progress with paying the interim dividend of £681K
for 2024/2025 to the Shareholder in order to meet the total Council
Returns target set of £1m for the financial year
2024/2025.
 
• Reserved Matter 32 - Declaring or
paying any end of year dividend of the company (where
applicable).

Reasons for the decision

Qualifying financial
returns to the Council comprise of total commercial interest paid
on Council Loans with the balance of the target met through
dividend payments. Following the restructure of the Aequus Group, dividends flow to the Shareholder via
Aequus Group Holdings Limited.
 
The B&NES
Shareholder target of £1m for revenue returns comprises of
£319k from commercial interest from asset backed loans and
£50k dividend from ADL and £631k dividend from ACL.

Alternative options considered

None.