Executive Shareholder Committee — Newark and Sherwood

Remit and Terms of Reference: Strategic oversight of the Council’s Development Companies (Active4Today and Arkwood Developments Ltd) including: their performance; management of the relationship between the Council and the two companies; compliance with the Governance Agreements; and “health check” of the two companies by the Council as sole shareholder; and specifically to:-

1. Recommend to Council the respective Articles of Association for consideration and approval.

2. Recommend to Council the respective Governance Agreements between the Council and the two companies for consideration and approval.

3. Agree the constitution for the two Boards of Directors and to approve the appointment of directors to the Boards, and to have the power to remove directors of the Board and approve best practice policies in relation to such appointments.

4. Receive, review and approve the companies’ annual reports and business plans.

5. Review the performance of the two companies.

6. Determine, on behalf of the Council, in relation to Arkwood Developments, how it should exercise the functions flowing from its ownership of shares, including decisions on payment of dividends from the company’s profit after taxation.

Members

Paul Peacock · Chair

Claire Penny · Member

Jack Kellas · Member

Lee Brazier · Member

Paul Taylor · Member

Rowan Cozens · Member

Simon Forde · Member

Susan Crosby · Member

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