Decision Maker: Greater Manchester Combined Authority
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
1. That the loan facility of up to £11.1m to Citylabs 4.0 Limited be approved.
2. That the loan to Vector Homes Limited of £150,000 be approved.
3. That the follow-on loan to Apadmi Group Ltd of up to £2.7m be approved.
4. That the investment into Northern Gritstone Ltd of £1.5m be noted.
5. That the follow-on investment into Bank North Ltd of £500,000 approved under delegation be noted.
6. That authority be delegated to the GMCA Treasurer and Monitoring Officer to review the due diligence information in respect of the above loans, and, subject to their satisfactory review and agreement of the due diligence information and the overall detailed commercial terms of the loans, to sign off any outstanding conditions, issue final approvals and complete any necessary related documentation in respect of the loans noted above.
Publication date: 30/05/2022
Date of decision: 27/05/2022
Decided at meeting: 27/05/2022 - Greater Manchester Combined Authority
Effective from: 10/06/2022