31 May 2017
Capital Structure Review

A review is underway of the Hawke’s Bay Regional Council’s commercial investments and activities.

The Capital Structure review will analyse the current and future state of Council’s commercial investments and activities, within both Council and its investment company, HBRIC Ltd. The findings will feed into the Long Term Plan, which is due for review next year.

The aim of the review is to consider all of the risks and opportunities associated with the Council’s investments and activities, look at possible further investment opportunities, as well as balancing financial return with environmental gain.

The review will also examine the arguments for and against the Council’s investment company HBRIC Ltd retaining ownership of Napier Port or moving to direct ownership by the Council.

A Capital Structure Review Advisory Panel has been created to undertake the review.

The members are:
HBRC Chairman – Rex Graham ( who will be chairman of the panel)
HBRC Corporate & Strategic Committee Chairman – Neil Kirton
HBRIC Chairman – Currently Sam Robinson (Chris Tremain after 30 June 2017)
HBRIC Director & former Napier Port Chairman - Jim Scotland
Napier Port Chairman – Alasdair MacLeod
Public Financial Management consultant - David Shand

The review will be completed by August, with the view to provide inputs to the Long Term Plan process.

ends