From the Chairperson
Kia ora koutou
I hope you are all keeping well.
It has been a difficult past 24 months for the Aotearoa Trust and New Zealand as a whole. Weather events, inflation and high interest rates have made life challenging; we are thankful we have a strong, robust business that can absorb the impacts of these difficult times. There have been some encouraging announcements recently that may signal better times are ahead.
Following on from the sale of Te Mania, our dairy farm in Southland, it is the Board’s intention to actively search for a replacement dairy farm in the Waikato to maintain our asset base to allow for future growth. Given current market conditions we believe there will be some exciting opportunities in the Spring.
Both commercial properties in Tauranga and Rotorua are performing well and have helped to offset the recent downturn in dairy prices. The Board’s strategy has been to diversify some assets away from agriculture because of the cyclical nature of farming.
The most significant news for Aotearoa Trust is the retirement of Mr Graeme Menzies. Graeme has been involved with the Trust for over 42 years in the role of both Trustee and as former CEO but will retire following the AGM in November. Much of what the Trust has evolved into today is due to his commitment, business acumen and vision.
The conversion on the Arohena farm into dairy, the purchase of the dairy farms in Southland, the purchase of the commercial properties, and the development of the Education Fund was also done under the direction and guidance of Graeme. He is well respected within the shareholding, and we are truly thankful for his service to the Trust and wish him all the best for the future. Graeme’s experience, integrity and mana will be greatly missed.
Our shareholder kaumatua grants have again been well received with 109 applications paid out. The kaumatua grants were increased to $1,000 this year. Please remember that ‘confirmation forms’ must be completed and returned to us each year to ensure that payments can be made. This can now be done online through the Grants & Scholarships tab on this website.
The Education Committee have done another excellent job rewarding students with grants. We encourage you all to take advantage of the grants available as it is for the benefit of our tamariki. This can also be done online.
Once again, I would like to thank my fellow Trustees who continue to work hard and make decisions in the best interests for Aotearoa Trust and its Beneficial Owners. The Board has implemented an incentive programme to encourage Beneficial Owners to attend the AGM. All Beneficial Owners over 18 years of age who attend the AGM will receive a $50 payment to help with travel expenses. This initiative will continue for the 2024 AGM. Thank you for your continued support and we look forward to seeing you at our AGM on Saturday, November 9.
Ngā mihi
0 Comments