Purpose

To seek approval to agree a new UBICO
Shareholder Agreement.

Decision

That the Cabinet Member for Finance and
Property rejects the alternative options and takes
the recommended decision to:
 
Approve the termination of a
shareholders’ agreement between the following local authority
shareholders:
 
a. Gloucestershire County
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. West Oxfordshire District
Council
 
that was entered into in
January 2020 for the purpose of ensuring that they retain control
over the strategic direction and key decisions of the environmental
services company known as Ubico Limited (the “2020
Shareholders’ Agreement”).
 
2. Approve the proposal
described in this report to enter into a replacement
Shareholders’ Agreement between the above parties commencing
in January 2025 in the form set out in exempt Appendix 3 to this
report.
 
For the reasons set out in the
report.