As Cabinet Member for Economic Development, I agree to delegate the authority to the Director of Growth and Communities:
1. To enter into the relevant contracts and legal agreements required to implement this decision allowing KCC to sell shares in unlisted companies within the Discovery Park Technology Investment Fund (DPTI) and the Kent Life Science Fund (KLS) in exchanged for shares in a new listed Investment Trust company, only when market conditions are favourable and KCC has reviewed the Listing and Prospectus documents.
2. To enter into the relevant contracts and legal agreements required to close the DPTI and the KLS.
3. To ensure that the proceeds from the sale of KCC shares in the new listed Investment Company will be re-invested in local companies via the Kent and Medway Business Fund (KMBF).