Hawke's Bay Power Consumers' Trust considers ownership options

The Hawke's Bay Power Consumers' Trust will stay strictly "open-minded" during its five-yearly ownership review of the shares in Unison Networks Limited.

Trust chairwoman 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 PricewaterhouseCoopers (PwC). The directors include their responses to the options presented by PwC."

Both reports are available on the Unison website. Power consumers connected to the Unison network can make written submissions on the Unison directors' report to the trust by Wednesday, February 14.

"As HBPCT trustees, we are conducting the consultation with shareholders, therefore remain open-minded to the options," Ms Kirton said.

"It's our role to consult with shareholders an a five-yearly basis and that we have an open mind to what their feelings are because they are the shareholders. They make their submission, which the trustees then consider."

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 per cent consumer ownership model, or see their preference being elsewhere.

"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: hbpct@bwr.co.nz