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Ownership review of Unison shares coming soon

Diana Kirton (Chair)

20 December 2017

The Hawke’s Bay Power Consumers’ Trust will be holding the 5-yearly ownership review of the shares in Unison Networks Limited early in the new year.

Trust Chair, Diana Kirton, said the review allows consumer shareholders to consider proposals and available options for the future ownership of the shares in the company.

“The Trust receives a report prepared by the Directors of Unison Networks Ltd outlining the various ownership options. This report is based on a full review of the company carried out by Pricewaterhouse Cooper (PwC). The Directors include their responses to the options presented by PwC”.

Both reports will be available to the public from Wednesday, 10 January 2018. Power consumers connected to the Unison network will be invited to make written submissions on the Directors’ report to the Trust by Wednesday, 14 February. The timeline of the ownership review, and information on how to access the documents, will be publicised at that time.

The recent Hawke’s Bay Power Consumer Trust elections generated a much higher level of public interest than previous Trust elections.

“Trustees are hoping that this greater awareness of Trust matters will result in strong, well-considered submissions. We are satisfied that the PwC report has included a wide range of options. It will be up to the consumer shareholders to consider whether they continue to support the current 100% consumer ownership model, or see their preference being elsewhere.”

“We realise the initial release of the documents falls in the holiday period. The reports may not make exciting beach reading, but the barbecue discussions with friends could be interesting. Therefore, we ask the public take the time to actively seek out the information, consider the options and make submissions."

Submissions should be clearly marked “Ownership Review” and sent to:

The Secretary

Hawke’s Bay Power Consumers’ Trust

PO Box 146, Hastings 4156

Or emailed to: [email protected]

Trustees Diana, Helen, Barbara, Ken and Kevin look forward to hearing your views.

Diana Kirton (Chair)

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