LTFT AGM Minutes 2021

LAKE TAUPŌ FOREST TRUST

AGM Minutes

2021 Lake Taupō Forest Trust

i

2021 AGM Minutes

Minutes of the Lake Taupō Forest Trust Annual General Meeting of Owners held via live stream on Thursday, 28 January 2021

Meeting started at 5 p.m.

R E S O LV E D

That the Chairman’s Report be received.

Mihi/Karakia

Mover: Binky Ellis Seconder: Tyronne Smith

Ngahere Wall gave the opening karakia and welcomed owners and beneficiaries to the hui.

CARRIED

Introductions

Management and Financial Report

Trustees’ introductions ensued.

The Management and Financial Report was presented by way of a 20-minute video.

Attendance

R E S O LV E D

Trustees: Binky Ellis (Chair), Ngahere Wall, Heemi J Biddle, Kelly Te Heuheu, Te Kanawa Pitiroi, David O’Rourke, Tangonui Kingi, John Tupara and Hemi H Biddle

That the Management and Financial Report be received.

Trustees' Apologies: Tina Porou and Judy Harris

Mover: Te Mihiata Hakiwai-Whaanga Seconder: Ripeka Biddle

Also Present: Chief Executive Officer John Bishara, Group Manager Amy Walker and Trust support staff

Pātai

CARRIED

Nganehu Whatu asked why the AGM wasn’t being held kanohi ki te kanohi.

Attendance and apologies were recorded: 105 owners joined the live stream hui and there were 16 apologies.

Binky Ellis responded that a live stream hui is not what the Trustees wanted but what was workable due to the COVID-19 pandemic. The Trustees are keen to get back to kanohi ki te kanohi hui as soon as possible and will monitor the situation and consider all options for future hui.

Sharen Marea Watson née Cross asked that where the land is below historic lake levels whether it would be worthwhile planting mānuka or leasing the land to beekeepers and eventually starting our own mānuka honey production.

Housekeeping Ngahere Wall outlined the meeting protocols for the live stream hui.

Heemi J Biddle responded that a number of our whānau have lands below the historic lake level. Mānuka honey has certainly had a good year this past season so it could be worthwhile, but a lot of that low-lying land is swamp and may not be appropriate for planting mānuka.

Minutes of the Previous AGM R E S O LV E D

That the minutes of the AGM held on 18 January 2020 be received and accepted.

Mover: Raukura Dunster Seconder: Moewai Solomon

David Terawhiti Flight referred to the value of the carbon assets of $37.8 million and asked what investment scheme the Trustees have in mind for that money and if the Trustees would consider investing in a rest home.

CARRIED

Chairman’s Report

Heemi J Biddle responded that with the establishment of Tupu Angitu Ltd to manage the Trust’s commercial assets, those types of decisions will be placed in their hands to consider what the best places will be to invest our funds, including the carbon credits.

Binky Ellis presented summarised highlights of the 2019–2020 Chairman’s Report. The report emphasised key progress towards 2021, financial and investment performance and some of the challenges faced by the Trustees – the most significant being the global outbreak of the COVID-19 pandemic and interruptions to forest operations.

Binky congratulated and welcomed new Trustees who were appointed earlier in the year – Ngahere Wall, Kelly Te Heuheu, David O’Rourke and Tangonui Kingi.

David Terawhiti Flight suggested that owner operators could provide employment for a gang of approximately six individuals to be responsible for security in the forest, including access, hunting, food gathering, firewood and pest control.

Binky acknowledged Michael Pitiroi.

Binky Ellis confirmed that as a consequence of the new access policy, general forest access is running well, and the introduction

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2021 AGM Minutes

Courtney Marshall said that many whānau and owners are getting trespassed from our forest and asked if a trespass revocation process can be created.

of fob keys has done a good job of keeping non-owners out of our forest, which is what we are trying to achieve.

Oscar Wilson commended the Trustees on an excellent presentation.

Binky Ellis responded that the Trust is happy with the process we have at this time. He noted that in order to be trespassed, you have to be at the top scale of offending.

Pettrina T De Young asked what percentage of Lake Taupō Forest Trust’s holdings are in Opepe Forest.

David Terawhiti Flight sought an update about the future of the forestry contract tenders.

Heemi J Biddle responded that Opepe Forest covers around 1,450 hectares of Opepe Farm Trust lands, which is about 30 per cent of that trust’s total land area. The land is leased

by Lake Taupō Forest Management Ltd, which in turn is owned 70 per cent by Lake Taupō Forest Trust and 30 per cent

by Lake Rotoaira Forest Trust. It is a one-rotation lease for which we pay an annual rental to Opepe Farm Trust to use their land. The overall Opepe lands comprise two parts – half being under the Opepe Farm Trust, which you can see on the Napier–Taupō Road, and the other half being part of Lake Taupō Forest Trust itself and being much of the land in the northern part of Lake Taupō Forest toward Waitahanui.

John Bishara advised that with the transition from Crown ownership to 100 per cent ownership by the Trust, we envisage it will be a couple of years at least. The Crown still has that 300,000 cubic metres to harvest, so the Trustees are confident that there is plenty of work. Priority will be on owner contractors who whakapapa to the land having greater opportunities to work in our forest and on our lands.

Tracy Karaitiana said that many owners have been impacted

by COVID and lost their jobs and asked if the Trust will look at supporting older beneficiaries in gaining employment through upskilling, training or job placements.

Joyce Hine Te Ata Hoko asked when the Crown will exit the Trust now, given the 18-month extension.

Makarita Waikari asked what the eligible age is for the Kaumātua Grant.

John Bishara referred to He Māhuri Toa programme run by the Lake Taupō Charitable Trust. The Trust is wanting to upskill our current workers and workforce, so the Trustees are looking at forestry jobs and jobs across the board. As mentioned in the Management Report, the biggest losses have been in tourism. Training and job placement into other opportunities is going to be a high priority for the Trust, as well as our ability to access technology as a way of creating jobs locally in Ngāti Tūwharetoa.

Binky Ellis advised that the Kaumātua Assistance Grant is for registered owners aged 70 years or over.

Angela Taituha thanked the Trust on behalf of her whānau for their mother’s Tangihanga Grant in July 2019.

Barbara Moana asked whether once the Trust lands have been returned, the Trustees will utilise the lands for Māori housing subdivision or whether the lands are for forestry only.

Oscar Wilson asked if owners could feel confident about putting in a tender ahead of non-owners.

Binky Ellis responded that the Crown has agreed to leave 300,000 cubic metres of wood, or a year’s worth of harvest in the forest at the technical lease expiry date of 30 June 2021 to help the Trust transition into full ownership. It will take about one year to complete that harvest.

John Bishara confirmed that is the case in all instances. There are standards in place for all contractors (whether logging trucks, thinning, pruning, harvesting or planting), and provided those capacity and capability standards are being met, an owner competing on an even footing with a non-owner can expect to be at the front.

Binky Ellis responded that the Trust and its owners recognise forestry is our core business, but it’s not our only business, and utilising some of the land for housing is something the Trustees have considered. The Trust is in talks with other Tūwharetoa entities to try and get something together in terms of providing homes on our lands for our people.

Tiaho Mary Pillot thanked the Trustees for an excellent presentation, which had answered all her questions and concerns.

Heemi J Biddle clarified that the Trust’s lands are not being returned; we have always owned our lands. Rather, the Trust now owns the trees on top of the land as well as the land.

Greg Stebbing asked who the directors are of the Trust’s new commercial arm, Tupu Angitu Ltd.

Makarita Waikari was pleased to be part of this new chapter in the Trust’s history.

Binky Ellis advised that the directors will be announced at the proper time.

Eddie Warena thanked the Trustees for a great presentation and looked forward to future online meetings for those owners based overseas.

David O’Rourke advised that the Trustees went through a thorough process, and the owners can rest assured the directors are extremely competent and have some good individual skills.

The owners can look forward with confidence to the directors doing a good job.

Joyce Hine Te Ata Hoko expressed her appreciation to the Trustees for the presentation, which she was able to enjoy from home.

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Whakamutunga

David Terawhiti Flight congratulated the Trustees on a job well done.

On behalf of the Trustees and staff, the Chair thanked the owners for their participation in the live stream hui and continued support.

Tracy Karaitiana thanked the Trustees for the innovative option of holding a live stream hui.

Karakia Whakamutunga

Angela Taituha asked if the age for the Kaumātua Assistance Grant can be reduced to 65.

The meeting closed at 6:02 p.m. with karakia by Ngahere Wall.

John Bishara advised that the Trustees are committed to engaging with the owners around all the grants and funding, and over the next six months, the Trust will be coming out to consult around that issue and others.

John acknowledged that requests to reduce the age of the Kaumātua Grant have been raised at the last three AGMs, and the Trustees will consider it, as well as having a bigger discussion about whether we should continue with dividends or there should be more grants.

Elaine Scott expressed her appreciation for the Trustees’ presentation.

Shane Wall asked if the Trust is looking at employing our own to do security instead of contracting out.

John Bishara advised that all the work on our lands is tendered, so the opportunity has been there. He noted that our current security firm are owners in the Trust. John agreed that the number of owners who are employed in the forest (presently about 19 per cent) is quite low, and it is the Trustees’ aspiration to lift that number to at least 80 per cent.

Cynthia Ellis thanked the Trustees on behalf of all the kaumātua watching the live stream on the big TV at Korohe marae.

John Bishara assured the owners tuned into the live stream that all their questions will be answered either during the live stream or via email.

Raewyn P Bell asked if owners are entitled to apply for education grants if they live in Australia.

Heemi J Biddle responded that education grants are for NZQA accredited universities, colleges of education, polytechnics or whare wānanga based in Aotearoa only.

Heemi J Biddle referred to an earlier question about why the hui isn’t kanohi ki te kanohi and reiterated that the reason the AGM is online is the current uncertain environment with COVID-19, but an added benefit is that utilising live stream means we are able to reach a wider base of owners around the world. For the future, the AGMs will be a combination of kanohi ki te kanohi and live stream so that we can bring our whānau in from overseas.

Courtney Marshall commended the Trustees for a great live stream hui.

Shane Wall thanked the Trustees.

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2021 AGM Minutes