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Decision details

MILLENNIUM STADIUM PLC - CONSENT OF SPECIAL SHAREHOLDER TO FINANCIAL ARRANGEMENTS

Decision Maker: Corporate Director Resources & Section 151 Officer

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No

Decision:

Appendix A and B of this report are exempt from publication on the basis that they contain information of the description set out in paragraph 14 of Part 4 of Schedule 12A of the Local Government Act 1972.

 

Agreed: that consent be granted, as Special Shareholder of Millennium Stadium plc, to a proposed refinancing of loan taken out initially as part of the Coronavirus Large Business Interruption Loan Scheme (CLBILS) in response to the impact of the Covid 19 pandemic. 

 

Reasons for the decision:

To discharge the Council’s responsibilities as the Special Shareholder of Millennium Stadium plc, and to enable the Company to secure revised financial arrangements in response to the impact of the COVID-19 pandemic on the commercial operations of the Welsh Rugby Union (WRU) Group.

 

Publication date: 20/01/2022

Date of decision: 18/01/2022

 

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