The Shareholder Executive Committee of Woking Council met on 17 September 2025 to discuss the performance of companies that the council owns shares in. The committee was scheduled to discuss performance reports from ThamesWey Ltd and Victoria Square Woking Ltd (VSWL), as well as a report from the Shareholder Liaison Service. The meeting also included a review of the committee's work programme.

ThamesWey Ltd and Victoria Square Woking Ltd Performance Reports

The Shareholder Executive Committee was scheduled receive performance reports from ThamesWey Ltd and Victoria Square Woking Ltd. According to the agenda, the press and public were to be excluded from the meeting during the consideration of these reports, because they contained information relating to the financial or business affairs of any particular person (including the authority holding that information).

Report of the Shareholder Liaison Service

The Shareholder Liaison Service was scheduled to present a report to the committee. According to the executive summary of the Report of the Shareholder Liaison Service, the report was to cover:

• ThamesWey group of companies management accounts to the end of June 2025, an update on business plan progress, and a Shareholder request to appoint a Director.
• Victoria Square group of companies management accounts to the end of June 2025, and Company Business Plan.

The committee was to be asked to receive the report, in order to adhere to the reporting requirements as set out in the Companies Governance Framework.

Work Programme

The committee was scheduled to review its work programme for the year. According to the Shareholder Executive Committee - Work Programme, the annual work of the Shareholder Executive Committee (SEC) is set out in the reporting framework contained within the Corporate Governance Framework (CGF), which was approved by the Executive on 16 November 2023.

The Corporate Governance Framework requires council owned entities to provide regular reports to the Shareholder. The Shareholder Liaison Service determines the minimum reporting requirements for each entity.

Reporting requirements are split into monthly, quarterly, six monthly and annual reports.

Monthly reports must include:

• Performance against business plan/ budget
• Financial reporting current view of outturn turnover, profit before tax, expected year end cash balance
• Risk management update
• Cash flow forecast for companies with high liquidity risk
• Any shareholder consent matters

The committee was to be asked to receive the work programme.

Declarations of Interest

Kevin Foster, Strategic Director – Corporate Resources, was scheduled to declare a disclosable personal interest (non-pecuniary) in any items concerning the companies of which he is a Council-appointed director. The companies are listed in the Schedule Declaration of Interests. The report pack stated that the interests are such that Mr Foster may advise on those items.

The companies that Kevin Foster is a Council-appointed director of are:

• Brookwood Cemetery Limited¹
• Brookwood Park Limited
• Export House Limited
• Kingfield Community Sports Centre Limited
• LAC 2021 Limited (Dormant)
• Woking Necropolis and Mausoleum Limited
• Woking Shopping Limited