Decision details
Redemption of shares in Oldham Community Power
Decision Maker: Director of Economy
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
Purpose:
To note for Council records the decision of
Oldham Community Power at their most recent Annual General Meeting
(AGM) to buy back some of the Council’s shareholding.
Decision:
RESOLVED - That the Council note the decision
of Oldham Community Power to buy back £8,353 the
Council’s shareholding and to pay £1,669.88 in interest
on the shareholding.
Reasons for the decision:
Oldham Community Power has the authority to
unilaterally decide to buy back shares from its members. Therefore,
there are no options and the only requirement is that the Council
formally records this decision.
Alternative options considered:
N/A
Other reasons / organisations consulted
The Cabinet Member for Finance and Low Carbon
was consulted.
Contact: Andrew Hunt, Strategy Partnerships and Policy Manager Email: andrew.hunt@oldham.gov.uk x6587 Email: andrew.hunt@oldham.gov.uk.
Publication date: 17/10/2022
Date of decision: 05/10/2022
Effective from: 25/10/2022
Accompanying Documents:
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