None received.

The Group is asked to consider any comments and/or recommendations from the Companies’ Scrutiny Panel on matters not on the agenda.

Representatives of the Companies’ Scrutiny Panel may also comment on substantive items.

Cllrs Fry and Rowley were present to represent the Companies Scrutiny Panel and questions and issues identified were taken as part of the discussion under the individual agenda items.

If the SJVG wishes to exclude the press and the public from the meeting during consideration of any of the items on the exempt from publication part of the agenda, it will be necessary for the SJVG to pass a resolution in accordance with the provisions of Paragraph 4(2)(b) of the Local Authorities (Executive Arrangements) (Access to Information) (England) Regulations 2012 on the grounds that their presence could involve the likely disclosure of exempt information as described in specific paragraphs of Schedule 12A of the Local Government Act 1972.

The SJVG may maintain the exemption if and so long as, in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

The SJVG passed a resolution in accordance with the provisions of Paragraph 4(2)(b) of the Local Authorities (Executive Arrangements) (Access to Information) (England) Regulations 2012 to exclude the press and members of the public on the grounds that their presence could involve the likely disclosure of exempt information as described in specific paragraphs of Schedule 12A of the Local Government Act 1972.

Those who may attend for this company’s items:

Company Directors:

Tim Sadler (Non-Executive Director, Chair of the ODS Board)

Catherine Pridham (Non-Executive Director, Chair of ODS Audit Committee)

Michael Whitwell (Non-Executive Director)

Simon Howick (Managing Director)

Gregor Budde (Finance Director)

Others in attendance:

Lindsay Cane (Company Secretary)

David Curtis (Chief Commercial Officer)

Present for this part of the meeting:

Tim Sadler (Chair of ODSL/ODSTL)

Michael Whitwell (Non-Executive Director)

Catherine Pridham (Non-Executive Director)

Tom Hook (Non-Executive Director)

Simon Howick (Managing Director)

Gregor Budde (Finance Director)

Dave Curtis (Chief Commercial Officer)

Lindsay Cane (Company Secretary)

Purpose of report: To introduce a revised ODS Business Plan and give the Shareholder Group an update on the ODS Group performance for 2021/22 and 2022/23.

Recommendations: That the Shareholder and Joint Venture Group resolves:

1.    To note the working assumption of the ODS Group 2021/22 net profit after tax is around £1,800k. This remains subject to finalisation and auditing of the accounts

2.    To note in addition to the £600k recently paid for 2020/21, it is the Board’s intention to declare and pay a further dividend once the year end work is complete and any increase in profitability over the 2021/22 Business Plan projection of £1,068k will be taken into account in the Board’s deliberations.

3.    To note the Board approved the combined ODS 2022/23 budget with a net profit after tax target of £2,228k

4.    To note the period 7 trading position to date

5.    To adopt the ODS Business Plan approved by Directors (appendix 1) which increases the net profit forecast across the same three year period by £2,491k and adds a further year

6.    To note the proposed changes in ODSTL Company Directors set out in the accompanying paper

The SJVG received a report which provided a revised ODS Business Plan and gave the Shareholder Group an update on the ODS Group Performance for 2021/22 and 2022/23.

Cllr Smith arrived at the meeting.

The SJVG discussed the report in private session.  Members of the Companies Scrutiny Panel contributed questions and comments.

The SJVG noted the contents of the report and following discussion, resolved to amend the recommendations as highlighted:

1.    To note the working assumption of the ODS Group 2021/22 net profit after tax is around £1,800k. This remains subject to finalisation and auditing of the accounts.

2.    To note in addition to the £600k recently paid for 2020/21, it is the Board’s intention to declare and pay a further dividend once the year end work is complete and any increase in profitability over the 2021/22 Business Plan projection of £1,068k will be taken into account in the Board’s deliberations.

3.    To note the Board approved the combined ODS 2022/23 budget with a net profit after tax target of £2,228k.

4.    To note the period 7 trading position to date.

5.    To adopt the ODS Business Plan approved by Directors (appendix 1) which increases the net profit forecast across the same three year period by £2,491k and adds a further year, subject to a further report outlining the projected growth trajectory of construction projects outlined in the Business Plan.

6.    To note the proposed changes in ODSTL Company Directors set out in the accompanying paper

Cllrs Turner, Upton and Fry left the meeting part way through discussions.

The Commentary on ODS to the Shareholder and Joint Venture Group Report provides an update on the following three areas:

·         The 2021-22 Outturn;

·         2022-23 budget monitoring update;

·         2022-23 to 2025-26 Business Plan.

The SJVG had before them a report from Nigel Kennedy, Head of Financial Services which provided the Shareholders with a commentary on the ODS 2021/22 Outturn, 2022/23 budget monitoring update and 2022/23 to 2025/26 Business Plan and was discussed alongside the ODS Group Performance Report.

Purpose of report: The Shareholder and Joint Venture Group is asked to consider substituting a new director for an existing director on the ODSTL Board and to add an additional executive director to the ODSTL Board.

Recommendations: That the Shareholder and Joint Venture Group resolves to:

1.    Appoint David Curtis to the Board of ODSTL in place of Jane Lubbock, who has submitted her resignation from the Board;

and

2.    To appoint Anne-Marie Scott as an additional director of ODSTL.

David Curtis left the meeting.

The SJVG had before them a report which asked them to consider substituting a new director for an existing director on the ODSTL Board and to add an additional executive director to the ODSTL Board.

The SJVG resolved to:

1.    Appoint David Curtis to the Board of ODSTL in place of Jane Lubbock, who has submitted her resignation from the Board;

and,

2.    To appoint Anne-Marie Scott as an additional director of ODSTL.

Recommendation: to approve the public and private minutes of the Shareholder and Joint Venture Group meeting on 28 July 2022as a true and correct record.

The SJVG agreed to approve the open and confidential minutes of the meeting held on 28 July 2022 as a true and accurate record.