, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
We're very short of time. A short, a very quick question from Rhianon Passmore.
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
Thank you. Do you want to pick up your questions, Natasha?
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
I'll just bring Rhianon Passmore in before—.
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
Natasha Asghar, I'll bring you in.
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
Because, again, in my previous career, I did spend a period in corporate finance—and, obviously, you're not a bank, you're a Government, or officials in a Government—but nonetheless, we certainly wouldn't be looking to lend these sorts of sums of money to a…
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
Yes, one of the other Green Man companies.
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
I think we understood that already; it's a question of whether it's 'an' offshoot festival site, not the main festival site. What would it mean for any perspective lease agreements and the future of the Green Man brand in Wales if one of the other companies…
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
I think 'a' festival site, not 'the' festival site.
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
Although, it was in the press, in correspondence from the chief officer in Green Man and the new company to the then leader of the county council, which was published widely in the Welsh media, stating that that was the intention from the outset, and the…
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
Sorry?
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
If I remember correctly, the Welsh Government has previously stated that it hadn't been agreed that there would be a festival on this site; it was the future usage—
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
Are you suggesting that Cwningar Ltd will wind up at some point, like the structures you've just referred to?
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
Okay. If I recollect correctly, and then colleagues will develop this later, at these initial stages, when the initial purchase went through, Welsh Government, as has been previously stated, hadn't agreed what the land would be used for. There hadn't been…
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
Okay. How do you understand the current and proposed future relationship between the various companies associated with the Green Man Group, and how will this new company fit into that?
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
Sorry?
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
Well, my question was specific to the company structure and finances, not whether this complied with Welsh Government policy, et cetera, because, of course, it's a new company with no trading record. Is it underwritten by its parent company or the source…
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
Thank you very much indeed. In terms of the new company structure and overall finances, how was your due diligence work undertaken? What assurances did you seek and obtain, looking at the company structure and overall finances? And, specifically, what…
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
Adam Price.
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
Before I bring in Adam Price, could I just ask: isn't that designed to protect them from risk rather than you?
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
That's a bit better, yes, thank you.
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
Sorry, you've gone very quiet again.
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
Okay. Well, if I can develop some of the themes, and then colleagues will pick those up. Of course, it's not Green Man directly we're talking about. Green Man formed in February a new company for the purpose of this venture, called Cwningar Ltd. Does it…
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
We'll be covering a lot of this in our questions. I think Mike Hedges has got a brief question for you now.
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
That's a bit better, yes, thank you.
, Public Accounts and Public Administration Committee
Gilestone Farm: Evidence session with the Welsh Government
We can't hear you, Andrew, sorry.
