Midwest Ferries trustee Graham Adams said today the company was not offering shares in its proposed inter-island ferry proposal but was seeking donations instead.

The company offered shares last month but did not have a registered prospectus and has since withdrawn the offer.

Mr Adams said the company aimed to raise $100,000 through donations to fund a business plan and feasibility study into its proposal.

The company is holding two meetings on Thursday to present it's plan to the public and businesses.

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The business meeting is to be held at the Whanganui RSA starting at 5.30pm and a public meeting would follow at 7.30pm at the Whanganui War Memorial Centre.