LONG-TERM ASSET MANAGEMENT PLAN PROJECT PROGRESS OVERVIEW

Over time, the marina infrastructure has been affected by the inevitable effects of nature, leading to aging and deterioration. In response to this challenge, a Special General Meeting was held in early 2019, where our shareholders unanimously agreed to adopt the Long-Term Asset Management Plan (LTAMP).

This comprehensive plan involves the replacement of marina assets and infrastructures. The primary objective is to create a safe, secure and operational environment that caters to the needs of our shareholders, enabling them to berth their vessels and fully indulge in their boating adventures.

Furthermore, as shareholders, responsibility outlined in the Deed of License with Wellington City Council is to ensure the asset is returned in good order once the head license agreement expires in 2058.

Since 2019, significant progress has been made towards achieving this goal through various projects - Fig 1.

During the Annual General Meeting held last year, the Board presented a detailed update on the current status and challenges associated with the next critical project: Pier Replacement. This presentation also shed light on probable directions to move the project forward.

The article that follows will provide a detailed account of the directions taken and the significant developments that have unfolded. We are excited to share the progress we have made and demonstrate how these efforts will impact Chaffers Marina and shareholders.

Outer wavescreen Repairs

Pile

Pile Sleeving Works

Wavescreen Replacement Works (D-E Pier)