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Top Energy Director Retires

Top Energy Director Retires

Doug Troon, a Director of Top Energy Ltd for 11 years, retired at the Company’s Annual General Meeting last Tuesday.

Troon joined the Far North lines distribution and power generation business in 2000 and has since been involved in securing resource consents for the Ngawha Power Station expansion, the establishment of the Group’s PHONEplus call centre subsidiary and, more recently, the development of the lines business‘ 10-year, $260 million reliability and capacity investment programme - which effectively doubles the length of Top Energy’s distribution network, increases the number of zone substations from 10 to 18 and provides a second high-voltage transmission line from Kaikohe to Kaitaia. The programme will deliver improved reliability of supply for all Far North power consumers, increased load capacity to meet future growth and a more acceptable level of return on the Group’s network assets.

Top Energy Directors are appointed by the Top Energy Consumer Trust. Trust Chairman, Robin Shepherd said, “Doug has been part of some of the most interesting and challenging times experienced by the Group. His engineering background has provided valuable input to the Board’s deliberations, as has his general commercial experience. On behalf of the Trustees, I thank him for his contribution in helping add shareholder value.”

For the past year, Top Energy’s Board has operated with 6 Directors and the Trustees believe it is desirable that this continue. They therefore expect to fill the vacancy in the next few months.

The remaining Top Energy Directors are; Paul Byrnes (Chairman), Mike Simm (Deputy Chairman), Peter White-Robinson, Andrew Kelleher and Paul White. Robert Kirkpatrick is the Independent Director for Ngawha Generation Limited. END.

ends

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