Decision details
Referral from Shareholder Board - Edsential Request for Funding
Decision Maker: Policy and Resources Committee
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
This reports details a request for loan and
grant support for Edsential with delegation of final arrangements
to Director of Resources and Director of Law and
Governance
Decision:
Resolved – That,
(1) the Director of Resources, be authorised, in consultation with the Director of Law and Governance to approve financial support to be provided to the company over the forthcoming financial year, in the form of Covid related funding support grant of £643,000 and an interest bearing loan of £857,000 as set out in the report and its appendices;
(2) the Director of Resources, be authorised, in consultation with the Director of Law and Governance to provide a letter of comfort to Edsential confirming the agreed financing and support.
Publication date: 11/11/2021
Date of decision: 10/11/2021
Decided at meeting: 10/11/2021 - Policy and Resources Committee
Effective from: 17/11/2021
Accompanying Documents:
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