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 Buckinghamshire Council 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).
| Company name | Aylesbury Vale Estates (AVE) |
|---|---|
| Directors & shareholder representatives |
Directors: Corporate Member Buckinghamshire Council, 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 | 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 Buckinghamshire Council and Chiltern Council Karen Satterford – CEO Buckinghamshire Council Andrew Grant – CEO Buckinghamshire 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 |
| 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 (AVB) is pioneering a unique business model to eliminate the digital divide between rural and urban areas. In December 2017, AVB sold its assets to Gigaclear plc. |
| Percentage owned | 95% |
| What are the scrutiny arrangements | Scrutiny/Cabinet adoption of business plan
|
| 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 |
|
| 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 Buckinghamshire Council:
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For more information, please see our governance document