TE KOROWAI O NGĀRUAHINE TRUST GROUP
POUWHAKARAE REPORT
$2.3m after tax profit for Y19. ($2.7m: Y18)
Special Resolution approved to revive the 2014 Trust Deed to present day.
E ngā iwi, e ngā reo, e ngā karangatanga maha o ngā hau e whā, tēnei te mihi atu ki a koutou katoa.
Limited (“Custodian Company”)
n behalf of the Board of Trustees, O it is with pleasure that I present the Annual Report on the performance of Te Korowai o Ngāruahine Trust Group (“the Group”).
the properties and shareholdings
TE KOROWAI O NGĀRUAHINE GROUP STRUCTURE
protected and preserved in the
The entities of the group structure include Te Korowai o Ngāruahine Trust, Ngāruahine Fisheries Limited, Te Kīwai Mauī o Ngāruahine Limited, and Te Rere o Kapuni Limited. Two new entities were established in this reporting year, the Te Korowai o Ngāruahine Custodian Trustee
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and Te Kīwai Matau o Ngāruahine Charitable Trust (“Charitable Trust”). The Custodian Company secures of Te Korowai. Before this entity was established, the settlement assets were held in the names of the Trustees. These assets are now Custodian Company rather than by individual Trustees. The Charitable Trust is now positioned to make charitable distributions. The Ngāruahine Whānui Distribution Policy will provide guidelines and requirements of hapū to receive a distribution or grant from the Charitable Trust.
| TE KOROWAI O NGĀRUAHINE ANNUAL REPORT 2019
2040 LONG-TERM STRATEGY During the year, Te Korowai o Ngāruahine Board of Trustees (“Board”) completed the review of the long-term strategy. This was approved at the 2018 Annual General Meeting. This Annual Report is an account of the organisation's performance in line with this strategy. STRENGTHENING GOVERNANCE A self-governance evaluation review and an Institute of Directors threeday governance training, were part of the professional development programme for the Board. Wellconstructed and informed training will remain an ongoing priority for governance.
