AVDC and its companies

This below sets out more detail on the companies that AVDC owns in part or whole.

In all cases the governance of the companies is through :

  • Articles of Association and Heads of Terms – setting out how the company must operate in its relationship with the Council.
  • Directors – members and staff hold positions on the boards of those companies we hold shares in the company.
  • Directors on companies first duty is to that companies interests.
  • Shareholder representatives – we nominate members and staff to represent the views of AVDC to the companies keeping our position clear and up front in key decisions.
  • Business plans –the companies have to produce annual business plans that are then presented to scrutiny and cabinet.
  • Shareholders Agreement & Reserved Matters – there are only some things the companies can make decisions on. If they want to do things outside of this they must come back to the council for a decision (for example this often includes major financial decisions such as taking out loans).

Current information on our companies

 Company name  Aylesbury Vale Estates (AVE)
 Directors & shareholder 
 representatives
 Directors: Corporate Member AVDC, Corporate Member Akeman Partnership
 Shareholder Representatives: Cllrs Rand and Whyte
 Purpose of the company  Manages the industrial units, shops and offices in the Aylesbury Vale area owned by Aylesbury Vale Estates 
 (AVE). To manage these properties in a flexible way that responds to occupiers' changing circumstances and 
 supports new and existing businesses.
 Percentage owned  50%
 What are the
 scrutiny
 arrangements
 Scrutiny/Cabinet adoption of business plan

 

 Company name  Aylesbury Vale Broadband (AVB)
 Directors & shareholder 
 representatives
 Directors: Janet Blake, Teresa Lane, Tracey Aldworth, Simon Eggleton
 Shareholder Representatives: Neil Blake
 Purpose of the company  Aylesbury Vale Broadband is pioneering a unique business model to eliminate the digital divide between rural
 and urban areas. AVB is a joint venture, charged with building their own future proof fibre network to deliver
 at least superfast broadband speeds in rural areas of Aylesbury Vale in Buckinghamshire.
 Percentage owned  95%
 What are the
 scrutiny
 arrangements
 Scrutiny/Cabinet adoption of business plan
  • Ability to restrict directors making some decisions
  • Changes to the business plan
  • Changes to shares

 

 Company name  Vale Commerce: Brands include, Limecart and Incgen
 Directors & shareholder 
 representatives
 Directors: Alan Evans, Cllr Janet Blake, Andrew Grant
 Shareholder Representatives: Cllr Howard Mordue
 Purpose of the company
  • To generate a substantial income stream for the council.
  • Support improvement in the local economy.
  • Help foster an enterprise management perspective within the Council                                                    
    Showcase the councilsdetermination to become more self-sufficient
 Percentage owned  100%
 What are the
 scrutiny
 arrangements
 Scrutiny/Cabinet adoption of business plan

 Summary of reserve matters that have to be referred back to AVDC:

  • Ability to restrict directors making some decisions
  • Changes to the business plan
  • Changes to shares

 

 Company name  Buckinghamshire Advantage
 Directors & shareholder 
 representatives
 Adrian Brown – Private Sector Director – Chair of Buckinghamshire
 Advantage Board
 Richard Harrington – CEO Buckinghamshire Advantage
 Richard Belfield – Private Sector Director – Vice Chair of
 Buckinghamshire Advantage Board
 Philip Ingman – Private Sector Director
 Bob Smith – interim CEO South Bucks District Council and Chiltern
 District Council
 Karen Satterford – CEO Wycombe District Council Andrew Grant – CEO Aylesbury Vale District Council  
 Neil Gibson – Corporate Director Bucks County Council
 Michael Garvey – Bucks Business First, Chandler Garvey

 Shareholders: none
 Purpose of the company  Buckinghamshire Advantage brings project management expertise to the delivery of Buckinghamshire 
 Thames Valley Local Enterprise
 Partnership’s (BTVLEP) capital programme, by co-ordinating the delivery of transport, planning, housing and
 other projects, in the pursuit of shared objectives..
 Percentage owned  50%
 What are the
 scrutiny
 arrangements
 Operated through shareholder ownership and voting

 

For more information, please see our governance document

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