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 March
2024.
 

Decision

The Cabinet Members for Finance and
Commissioning and Leisure, Parks and Major Projects agreed the
LWTMS Business Plan for 2024/25 (APPENDIX A) approved by the
Company Board in March 2024.