Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

NZ Rural Property Trust Unit Holders Vote

Thu, 28 Oct 2004

NZ Rural Property Trust Unit Holders Vote For Status Quo

Unit holders in New Zealand Rural Property Trust have strongly rejected a proposal to break up the Trust and distribute the proceeds.

At the annual meeting of the Trust in Wellington today a substantial majority of unit holders voted in favour of the Trust carrying on as before.

The Directors of New Zealand Rural Property Trust Management announced that voting was 76.32% in favour of the Trust continuing in its present form.

Chairman, Sir Selwyn Cushing said the positive vote reinforces the view that the Trust will continue to provide excellent returns in the future.

The market price of the units has shown an average return of 23 percent per annum over the last five years, out performing a number of other property and agricultural investment vehicles, he said. Units in the Trust have recently sold at up to $1.75.

In a statement following the meeting, the Directors say they believe the Trust has a diverse portfolio of quality properties which have strong potential for further capital growth in the long term.

New Zealand Rural Property Trust owns some 30 farms, mainly in the Hawke's Bay area, and a forest near Ngaruawahia.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Mycoplasma Bovis: More Properties Positive

One of the latest infected properties is in the Hastings district, the other three are within a farming enterprise in Winton. The suspect property is near Ashburton. More>>

ALSO:

Manawatū Gorge Alternative: More Work Needed To Choose Route

“We are currently working closely and in partnership with local councils and other stakeholders to make the right long-term decision. It’s vital we have strong support on the new route as it will represent a very significant long-term investment and it will need to serve the region and the country for decades to come.” More>>

ALSO:

RBNZ: Super Fund Chief To Be New Reserve Bank Governor

Adrian Orr has been appointed as Reserve Bank Governor effective from 27 March 2018, Finance Minister Grant Robertson says. More>>

ALSO:

ScoopPro: Helping PR Professionals Get More Out Of Scoop

Scoop.co.nz has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>

ALSO: