Decision details

To determine on the basis of the proposals if the authority would wish to participate in the proposed investment.

1)    That the transaction proposed by Yorkshire Purchasing Organisation, as detailed within the considered report, be noted.

2)    That confirmation be given to the financial backing of the transaction by agreeing to underwrite the loan and entering into a Supplemental Agreement, and that authority be delegated to the Chief Executive to approve the Supplemental Agreement, as set out in appendix 6 of the considered report, subject to (i) at least 10 of the 13 Founding Members remaining and agreeing to enter into the Supplemental Agreement (ii) the satisfactory completion of legal and financial due diligence on the proposal giving confidence to proceed and (iii) a resolution of Yorkshire Purchasing Organisation Management Committee to enter into the proposed transaction.