Millstream has requested the permission of its
shareholder (the council) to create and issue ordinary shares in
the company. It is the company’s intention to sell all the
shares created to the council, with the proceeds of this sale being
used to pay off the company’s shareholder loans owed to the
council. This is a mechanism specifically designed in consultation
with the council’s Head of Strategic Finance and Property to
more clearly delineate the Millstream’s funding from equity
(that is, shares held by the council) and debt (that is, loans
taken out from the council). While this change has no impact on the
cashflows to the council emanating from Millstream’s
activities, it will simplify Millstream’s accounts
Decision type: Non-key
Decision status: Recommendations Approved
Notice of proposed decision first published: 24/03/2023
Decision due: 24 Mar 2023 by Chief Executive
Contact: Richard Cassidy, Chief Executive Email: Richard.Cassidy@eastherts.gov.uk.