Thursday, September 15, 2016

Deal Done Against Shareholder Owners - Trustees Using Legislation TO STRIP SHAREHOLDERS OF WHENUA

"Well, we’ll soon see. If they continue down this track you will see significant litigation against them for being so bad at being stewards of our assets."

click link below


Tēnā koutou,
Te whakahou, te whakapakari me te whakanikoniko i te ahurea te pāpori me te tino rangatiratanga o Taranaki Whānui!
Shelly Bay Update
It is with great delight that I am able to inform you Taranaki Whānui Ltd (TWL) is in joint venture negotiations aimed at breathing new life and a refreshed energy into the development of Shelly Bay. 
You will recall that Shelly Bay was bought by the Trust in 2009 after settlement with the Crown, using cash that formed part of the settlement as a development project for the Trust. 
This year we set out on a national consultation from Auckland to Nelson to listen to all of your feedback during the vote on the clean sale of the land. That included diverse feedback and questions ranging from retention, to being part of its development, to the welcome change in approach by the Board to seek member’s views on the transaction. Your feedback encouraged us to take a fresh look at how we could obtain a benefit from the land at Shelly Bay. Accordingly, we are pleased to announce that we are working on a joint venture (JV) agreement with Ian Cassels and The Wellington Company (TWC).
A resource consent for Shelly Bay under the Housing Accords and Special Housing Areas Act 2013 (SHA) is to be lodged by Thursday September 15, 2016. This is to ensure the development advantages under the SHA designation are protected. Securing this resource consent will be required before all the necessary JV negotiations, agreements and formalities are concluded with TWC. 
Once the resource consents are lodged with the Wellington City Council this will become public knowledge. Before that occurs the Trustees and the TWL Directors want to ensure that members are given a “heads-up” that this is happening rather than reading about it in the media or on a face-book post.
As the formalities between TWC and TWL are yet to be completed we can’t provide more detail of the proposal at the moment but we will provide more details once legal formalities are concluded and then share the information about the joint venture at the annual general meeting on Saturday October 15, 2016.
Should there be more news before the annual meeting we will let you know. But for now I think we could all afford to feel a bit of excitement that Shelly Bay is seeing potential sunlight again and that the Trust is heading in the right direction.
Nāku noa, nā
Neville Baker
Port Nicholson Block Settlement Trust

If these Trustees were TRANSPARENT Shareholder Owners would not have to find out about BACKROOM DEALS on Social Media.
Shareholder-Owners would have their votes accepted as a NO SALE.

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