News
Council lost £1.8m after trading of £1.9m loan for almost ‘valueless’ Bluestone shares
PEMBROKESHIRE politicians have slammed a council leadership bid in the wake of revelations that the previous administration lost £1.8m by exchanging a £1.9m loan in the Bluestone holiday village for shares.
At the full council meeting of Pembrokeshire County Council on May 11, members heard the secured £1.9m loan investment in Bluestone was exchanged for shares which – at best – have been valued at £70,000.
Cabinet member for finance, Alec Cormack told members at the May 11 meeting that the very best annual dividend received on the shares was £5,250, meaning it would take 340 years to recoup the apparently written-off loans.
The behind-closed-doors decision, made by the previous council administration’s Cabinet in 2009, also included the removal of a previous agreement securing public access to the Blue Lagoon water park, then known as Waterworld.
The issue was raised at the May meeting by Councillor Alan Dennison, a new member of the council’s Independent Political Group (IPG), which also happened to be the previous administration.
In a submitted question, he asked full council: “Given the council’s previous investment in Bluestone of a 1.9 million secured loan, now converted into shares, can the Cabinet Member advise what return on investment per annum has been received over the last five years in share dividends or any other form of income?”
Members heard that amounted to just £19,000 in five years.
The £110m Bluestone eco-resort, near Narberth, opened in August 2008.
Early on, the county council invested two loans, adding to a total approaching £1.9m, the lion’s share in respect of Waterworld – now called the Blue Lagoon – with the key justification being there would be year-round public access for the public.
In 2009, it was reported that the county council took up an equity share option in the company behind the Bluestone holiday village, exchanging its loans for them.
Cllr Cormack answered Cllr Dennison’s question at the May 11 meeting, saying the original £1.9m investment was secured with a legal charge on land at the land registry, but was later exchanged for shares with no guarantee and the loss of the public’s right to access the-then Waterworld.
It was in 2009 that the confidential behind-closed-doors decisions were made, removing the loans and the guarantees, members heard.
“The council’s lost £1.8m of the £1.9m – roughly 95 per cent – of the IPPG investment and the public’s lost the guaranteed right to use the Bluestone pool,” said Cllr Cormack.
“At this rate, if we took that maximum dividend amount of £5,250, the council would get its money back in roughly 340 years.”
Speaking after the meeting, a spokesperson for the Pembrokeshire Labour Group praised Cllr Cormack’s role in bringing the information to the public domain.
“Cllr Cormack’s revelations about what had been agreed by the IPG administration are astonishing. There is simply no justification, whatsoever, for the decision by the Independent Political Group (IPG) cabinet leader of the time [Cllr Jamie Adams] to convert the loan into shares.
“Not only do they contain no justification for the decision; it’s clear the IPG swopped a secure loan for shares without any consideration of the consequences. They traded the people of Pembrokeshire’s access to the blue lagoon and £1.8m of taxpayers’ money for shares worth less than £70,000.
“Not only were they worth just £70,000, they’re also non-voting shares meaning this shoddy deal failed to secure this authority any influence over the company – it absolutely beggars belief.”
Referring to a forthcoming vote of no confidence in Council Leader David Simpson, in favour of IPG group member Huw Murphy, the spokesperson added: “This is the same Independent Political Group who are now desperate to run the council again and they’ll need the backing of the Tories to do it. The question must be, what secret deal have they cut to short-change the people of Pembrokeshire again?”
Councillor Jamie Adams, leader of the IPG group, has been contacted to comment.
News
Recounts concern raised over new Senedd voting system
Political sources warn tiny vote differences could decide final seats under Wales’ new proportional voting system, with fears of inconsistent recount decisions across the country
QUESTIONS have been raised over how recounts will be handled in Wales’ first Senedd election using the new six-member proportional voting system, amid fears that tiny vote differences could decide the final seat in some constituencies.
Under the new arrangements, Wales has been divided into larger multi-member constituencies, with six Senedd Members elected in each area using the D’Hondt system of proportional representation.
Political sources have expressed concern that the current Electoral Commission guidance may not adequately address situations where the allocation of the sixth and final seat could hinge on very small differences in party vote totals.
One political source, who asked not to be named, said the issue was not about the competence or integrity of Returning Officers, but about the lack of detailed public guidance surrounding recount decisions under the new system.
They said: “In some constituencies, the final seat may come down to a very narrow margin once the D’Hondt calculations are applied, even if no party’s overall vote total appears especially close in traditional terms.
“The concern is that there appears to be no clear guidance about how close the contest for the final seat needs to be before a recount is granted.”
The source warned that without clearer guidance there could be inconsistencies across Wales, with recounts potentially being allowed in one constituency but refused in another despite similar margins.
Electoral Commission guidance currently states that Returning Officers must be satisfied vote totals are accurate before producing a provisional result and that candidates and agents are entitled to request recounts.
However, the guidance also makes clear that Returning Officers may refuse recount requests if they consider them “unreasonable”.
The Electoral Commission said the existing rules already provide a framework for openness and transparency during the counting process, with candidates and agents allowed to inspect ballot bundles and challenge provisional results before declarations are made.
The guidance also confirms that more than one recount can take place if Returning Officers believe further recount requests are justified.
But critics argue that Wales is entering untested territory with the new electoral system, where relatively small shifts in vote totals could alter the final seat allocation after D’Hondt calculations are completed.
The Senedd election is the first to use the new system, which replaces the previous arrangement of constituency and regional members with fully proportional six-member constituencies across Wales.
This story was first reported by Nation.Cymru, you can read their report here.
Charity
Chief’s Tour honours fallen officers with 75-mile Pembrokeshire ride
Dyfed-Powys Police team raises thousands for bereaved police families charity
A TEAM of officers and staff from Dyfed-Powys Police cycled 75 miles across west Wales on Wednesday (May 6) in memory of colleagues who lost their lives in the line of duty.
The annual “Chief’s Tour of Pembs 2026” saw participants travel from Fishguard to Carmarthen while raising money for the charity Care of Police Survivors, commonly known as COPS.
The force said the event raised £2,690, with funds going towards support for the families of police officers who have died while serving their communities.

Along the route, cyclists stopped at several locations to meet relatives of fallen officers and take part in moments of reflection.
In a statement shared on social media, the force said the tour was held “in memory of all Dyfed-Powys Police officers who have lost their lives in service.”
The post added: “Those we’ve lost will always remain in our thoughts.”
COPS supports the families of officers who have died on duty by organising national and regional events, helping survivors build support networks and friendships with others who have experienced similar loss.
Dyfed-Powys Police thanked members of the public who supported the cyclists during the challenge.
“A huge thank you to our community for showing our Chief’s Tour cyclists support as they passed through Pembrokeshire,” the force said.






“Your cheers, waves and encouragement kept spirits high for those taking part.”
The 75-mile challenge took riders across parts of north and west Pembrokeshire before continuing east towards Carmarthenshire, combining physical endurance with remembrance and fundraising.
Police charities such as COPS often work quietly behind the scenes, supporting bereaved families long after national attention fades following the death of an officer.
Education
Holocaust survivor’s story shared with pupils at Ysgol Greenhill
MORE than 150 pupils at Ysgol Greenhill have heard the moving Holocaust testimony of the late Zigi Shipper BEM, who survived some of the most terrible events of the Second World War.
The special visit took place on Tuesday (May 5), when Mrs Lu Lawrence came to the school to speak about the life of her father.
Zigi Shipper survived the Lodz ghetto, Auschwitz-Birkenau, Stutthof concentration camp and a death march, among other traumatic events. When he was liberated by British forces, he was just 15 years old.

Mrs Lawrence spoke to Key Stage 3 and GCSE pupils, sharing not only her father’s testimony but also her own family’s story.
Ysgol Greenhill said more than 150 students attended the session and were “exceptionally well behaved”, asking thoughtful questions during the visit.
The school said: “In the current climate of increasing anti-Semitism, understanding the dangers of prejudice is more important than ever.”
The visit was arranged by the Holocaust Educational Trust, which works with schools to ensure young people continue to learn about the Holocaust and the dangers of hatred and discrimination.
The session gave pupils an opportunity to hear a deeply personal account of survival, loss and resilience, and to reflect on why Holocaust education remains so important today.
Photo caption:
Important lesson: Mrs Lu Lawrence visited Ysgol Greenhill to share the Holocaust testimony of her late father Zigi Shipper BEM (Pic: Ysgol Greenhill).
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