Purpose

The Council is the
100% shareholder of Lichfield West Midlands Trading
Services.
 
The shareholder
agreement and the articles of association ensure the Council
retains oversight of operations and direct control over the most
important governance aspects of decision making.
 
These documents can
provide a balance between commercial freedom and flexibility and
the maintenance of assurance over reputation and use of public
funds. It will retain control over:
 
-Appointing and
removing directors
-Agreeing the business
plan
-Agreeing and
potentially providing funding routes
-Allocation of
additional shares
-Agreeing changes to
the articles of association
-Declaration of a
dividend
-Required levels of
performance
-Approving and
removing auditors
 
This Cabinet Member
decision is to agree the Business Plan approved by the Company
Board in June 2023.

Decision

The Cabinet Members for Finance and
Commissioning and Leisure, Parks and Major Projects agreed the
revised LWTMS Business Plan (appendix A) approved by the Company
Board in June 2023.