Issue - meetings

Report of Councillor David Molyneux, Portfolio Lead for Resources & Investment.

1.         That the funding applications for Miribase Limited (equity investment of up to £350,000), Worthington Mancap LLP (loan facility of up to £6,050,000) and Immersify Education Limited (equity investment of up to £150,000) and progress to due diligence be approved.

2.         That authority be delegated to the GMCA Treasurer and GMCA Monitoring Officer to review the due diligence information in respect of the companies, and, subject to their satisfactory review and agreement of the due diligence information and the overall detailed commercial terms of the transactions, to sign off any outstanding conditions, issue final approvals and complete any necessary related documentation in respect of the investments.

3.      That the loan to Kartell UK Limited approved under delegated authority be noted.