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RESOLVED:
 
1.   
That the Strategic Investment Board approves the business plans as
set out for HGR and C2S.
 
2.   
That the Strategic Investment Board notes the presentation made by
TRICS and provides feedback on any requests to be considered by the
TRICS Board via the SCC appointed director.
 
3.   
That the Strategic Investment Board acknowledges the key risks
identified and the mitigation strategies in place.
 
4.   
That the Strategic Investment Board endorses the forward plan for
SIB activities.
 
5.   
That the Strategic Investment Board provide strategic direction on
the preferred pace of disposal of the HGR residential property
portfolio.
 
Reasons for
Decisions:
 
·        
The recommendations are to ensure transparency of the business
plans of the investment companies, to highlight the risks and
opportunities to drive accountability and strategic oversight and
continuous improvement in company and investment performance.
 
·        
To ensure as shareholder of TRICS that SCC is feeding back to the
Board on proposed plans for the future.
 
·        
To provide clarity and authority to the HGR management team on the
intended pace of disposals, ensuring that actions taken are aligned
with the Board’s risk appetite and political considerations.
Legislative changes coming into effect from 1 May 2026 will affect
the options available to HGR in relation to securing vacant
possession and the timing of disposals. A clear steer from the
Board at this stage will enable informed, timely and coordinated
decision-making. The pace of disposals will have implications for
deliverability, market exposure, reputational risk and the
likelihood of completing sales ahead of Vesting Day. These
trade-offs are matters needing direction from the Board.
 
(The decisions on
this item can be called-in by the Resources and Performance Select
Committee)