I have no doubt that the information on the sign is totally correct. However, it could be categorised as useless.
It is obviously 12 years old at least. The companies on the sign have even changed names in the interim so any advertising benefit is limited. The Local Authority and Government department have also been renamed.
If there is a register of signs held by Local Authority, I would suggest that the register should have a removal or end-of-life date and then an obligation to remove. I spotted quite a number of out-of-date signs over the past week or so but this is by far the most out-of-date. I suspect there may even be older signs still standing.
The sign does nothing to improve any image trying to be created as to a modern city.