Issue - meetings

Tricuro Local Authority Trading Company provides adult social care services across the Bournemouth Christchurch and Poole area. Currently, both BCP Council and Dorset Council own shares in the company. Dorset Council withdrew their services in October 2022 and are willing to transfer their share in the company.

This report sets out the process and seeks approval for the share transfer that will leave BCP Council as the single shareholder.

RESOLVED that Cabinet approved the transfer of Dorset Council’s share in Tricuro for the sum of £350,000.

Voting: Unanimous

Portfolio Holder: Health & Wellbeing

Reason

The transfer or allocation of Tricuro shares is a reserved matter, under the Shareholder Agreement and therefore requires Cabinet approval. The result of this decision would be for BCP Council to be the single shareholder in Tricuro.

The Portfolio Holder for Health and Wellbeing presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'I' to these Minutes in the Minute Book.

Cabinet was advised that the Tricuro Local Authority Trading Company provides adult social care services across the Bournemouth Christchurch and Poole area, and that currently, both BCP Council and Dorset Council own shares in the company.

In relation to this Cabinet was informed that Dorset Council withdrew their services in October 2022 and are willing to transfer their share in the company, and that this report sets out the process and seeks approval for the share transfer that will leave BCP Council as the single shareholder.

RESOLVED that Cabinet approved the transfer of Dorset Council’s share in Tricuro for the sum of £350,000.

Voting: Unanimous

Portfolio Holder: Health & Wellbeing

Reason

The transfer or allocation of Tricuro shares is a reserved matter, under the Shareholder Agreement and therefore requires Cabinet approval. The result of this decision would be for BCP Council to be the single shareholder in Tricuro.