Purpose

A report providing an update to the
Shareholder Committee on the company’s financial position and
future options following the council’s acquisition of Cyber
Quarter Ltd (the Company) in July 2024.

Decision

a)   
notes the actions taken by the company’s Directors and
Council officers following the purchase of shares;
 

b)   
notes the estimated annual operating costs of the Company; and
 

c)    
approves the proposed timeline of activity to enable the conclusion
of ongoing discussions with potential tenants and investigation of
alternative options for the Company’s future operation.