Trustees of the Central Hawke’s Bay Consumers Power Trust (CHBCPT) have determined that the ownership of shares in local lines company, Centralines Limited, will stay in the hands of consumers.
This decision follows public consultation at the end of 2018, which unanimously resolved to maintain the current ownership structure of Centralines Limited – being wholly owned by the Trust.
CHBCPT has owned 100 percent of the company’s shares since its inception in 1993, following public consultation in 1992. The Trust Deed requires the ownership of Centralines to be reviewed and presented to consumers every five years. This review assesses the performance over the previous five years and recommends how the shares should continue to be held.
Central Hawke’s Bay Consumer Power Trust Chair, Alistair Setter thanks consumers who responded to the public consultation.
“It was pleasing to see such overwhelming support to maintain the status quo from both consumers and the Company itself – the Directors of Centralines,” said Mr Setter.
The Trust will continue to review the ownership structure every five years.
Information on the company is publicly available from the Centralines Office and its website, www.centralines.co.nz.
For more information, contact:
Chairman, Central Hawke’s Bay Consumers Power Trust
M: 021 384 674