Decision details

*Re-published: call-in no longer applies* Sale of Toddpak Limited

Decision Maker: Chief Executive Officer

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No


Agreement to sale of Toddpak Limited.

Decision taken by Richard Flinton, Shareholder Representative (on behalf of the Shareholder Committee)

Reasons for the decision:

*PLEASE NOTE This decision was originally published on or near the date of the decision and so call in no longer applies. It has been re-published as part of the change in committee management system that we use.*

As part of the acquisition of Todd Waste Management in 2016-17, Yorwaste also acquired the subsidiary business Toddpak Limited. Toddpak functions by trading the value of Packaging Recycling Notes (PRNs). Simply the business takes a position based on an expected future value of these notes, it is akin to trading stocks.

Yorwaste have received a firm offer from an external party for Toddpak which is considered to be good value to North Yorkshire County Council (as majority shareholder of Yorwaste).

Alternative options considered:

Given the offer put forward for Toddpak, the only other option available was to retain the business, however that option was ruled out as the sale is considered to be more beneficial.

Publication date: 28/04/2021

Date of decision: 11/02/2020