Northpower's ownership structure is a key feature of the company, with 100% of all shares owned by the consumers and held in trust by the Northpower Trust.
The Northpower Trust Deed requires that options for the future ownership of shares in Northpower be reviewed every five years. The Trustees of the Northpower Trust must carry out a consultation process with Northpower consumers to determine if the current Trust ownership structure is what consumers want, or if consumers would prefer a change.
Following a formal submission process over several months, the Northpower Trust announced on June 8, 2017 that it will retain all Northpower Limited shares in Trust ownership. Just two out of 88 formal submissions wanted change.
DECLARATION OF RESULT OF ELECTION for the Northpower Electric Power Trust
I hereby declare the result of the election held on Saturday 19 November 2016 for the election of five trustees for the Northpower Trust (Whangarei District Council area) to be as follows:
38 Informal Votes, 22 Blank Votes
I therefore declare Erc ANGELO, Irene DURHAM, Ross PROVAN, Bill ROSSITER and Paul YOVICH to be elected.
The voter turnout was 25.48%.
Dated at Whangarei, 21 November 2016.
Kaipara District Council area (two vacancies)
DRAKE, Richard & McKENZIE, Sheena
As the number of candidates does not exceed the number of vacancies, Richard DRAKE and Sheena McKENZIE are duly declared elected trustees of the Northpower Electric Power Trust.
Independent Election Services Ltd for Northpower Electric Power Trust
Enquires phone 0800 922 822