Page 58 - PNMRT AnnRpt 2020
P. 58
TRUSTEE REMUNERATION/MEETING FEES
Trustees recommended that the Trustee Remuneration for each Trustee remain the same as in 2018 and 2017 which is:
• Liz Mellish as Chairman currently receives $60,000 gross per annum
• All other Trustees receive $16,000 gross per annum
Mana Jenkins thanked Trustees for the work that they have done, and James Makowharemahihi also reiterated this.
Resolution
It is hereby resolved that the Trustee Remuneration for each Trustee remain the same as in 2017 and 2018, that is:
– The Chairman receive $60,000 gross per annum
– Trustees receive $16,000 gross per annum.
Moved:
Mana Jenkins
Seconded:
James Makowharemahihi
CARRIED UNANIMOUSLY
DISTRIBUTION
Trustees recommended the same dividend payment be paid out as per 2018. There are a number of projects that are coming up such as Baxters, Rangitikei Street, Metlifecare and the Childcare Centre.
The distribution will be made in November.
Resolution
It is hereby resolved that Trustees recommend that beneficial owners agree to a distribution of $5.00 per share being a total commitment of 190831.866 shares = $954,159.33.
Moved: Huia Maeke Seconded: Wiki Te Paki
CARRIED UNANIMOUSLY
56
Palmerston North Ma¯ori Reserve Trust
ANNUAL REPORT 2020
