Pukeroa Oruawhata Trust Owners’ Grant
An owners’ grant in lieu of a dividend is recommended to the annual general meeting for approval. This grant is payable to the owners registered at that date who have supplied their bank account numbers and addresses.
The grant is available to owners up to the date of the next AGM. Any owners who register after the payment date and up until the next AGM will be entitled to the payment they would have received had their addresses and bank account details been known.
Owners who succeed to shares will be entitled to the grant up until the next AGM if it has not already been paid to the deceased shareholder. Where the Pukeroa Oruawhata Trust is notified of a shareholder’s death the Trustees may at their discretion release up to 3 years unpaid grants to the successors.
The grant is paid from retained earnings with Maori Authority Tax Credits (MACA) attached. The sum set aside for distribution each year will vary according to the sum available after having reviewed the Pukeroa Oruawhata group’s financial position.
Payments are calculated according to shareholding bands.
Payments to overseas owners will be the $NZ amount net of any bank charges.
The Trustees decision in these matters is final.