Ownership Review September 2001 – Trustee Comments
The Trustees of the South Canterbury Power Trust acknowledge and thank the Directors of Alpine Energy Ltd for their report on the three-year ownership of the Trust. The Trustees also congratulate the Company on its recent performance and efficiency.
As there is no longer a requirement to hold trust income for six months prior to distribution, paragraph six on page five is no longer applicable.
The conclusions and recommendations of the report from the Directors are in accordance with the collective opinion of the Trustees. As identified by the Directors, the recent poll of consumers also re enforces the report’s recommendation whereby 74% of those who voted in the poll favoured the continuation of the Power Trust.
The Trustees also wish to thank the Company for its offer of support and assistance in achieving a long term Trust.
At the forthcoming joint meeting of the Directors and the Trustees on November the 22nd, the Trustees anticipate a unanimous decision to continue the Trust ownership of Alpine Energy Ltd shares and the resettlement of the present Trust into a Trust with an 80 year perpetuity.
