Purpose

Investment in additional share capital in the Peterborough HE
Property Company to enable phase 3 of the new university to
progress.

Decision

Cabinet considered the report and RESOLVED to:
 
1.    
Review recommendation 2 which had been considered at Shareholder
Cabinet Committee, on 12 June 2023 and approved;
 
2.    
Approve an additional investment of 1,300,000 Ordinary Shares (to
the value of £1 per share) into Peterborough HE Property
Company Ltd, to enable phase 3 of the University development to
proceed, as Shareholder Cabinet Committee, at its meeting on 12
June 2023, had made the appropriate recommendation to
Cabinet;
 
3.    
Delegate authority to the Executive Director for Place and Economy,
in consultation with the Executive Director for Resources, to agree
final versions of the subscription letter and the funding profile
to be included in the shareholder’s agreement with
Peterborough HE Property Company Ltd.