Ngati Hine Forestry Trust
Trustees’ Annual Report 2012
E nga uri o nga tangata, tena koutou katoa.
Ka mihi tonu ki nga tini mate kua ngaro atu i te tirohanga kanohi i te tau kua pahure nei. Haere atu ra e nga mate, haere, haere, whakangaro atu. A te wa, ko te tutataki ano tatou katoa.
Ka hoki ano ki a tatou nga mahuetanga mai o ratou ma, e, kei a tatou te mahi ki te whakako atu i nga moemoea o nga matua tupuna. Hei aha? Hei painga ano mo tenei whakatupuranga, a, me nga whakatupuranga kei te heke tonu mai.
Kaati ra mo tenei wa.
It is again a privilege to present this annual report to you on behalf of all the Trustees as we review the year gone by and look to move our forestry trust forward into the future.
Overview of the Trust
Our Trust is currently going through a defining period which is proving challenging for a number of reasons. These will be expanded upon throughout this report.
These challenges, for the most part, are not unexpected and it is quite normal for any organisation to have good periods and not so good periods as is the case in any life cycle.
As your elected Trustees, we understand these challenges and are working hard on behalf of you, the beneficial owners to ensure that the best of outcomes can be achieved over time. The Trustees are working with assets and in an environment that requires dedicated commitment over a very long timeframe. This is not a business model that can produce fast results either cheaply or easily. There is no silver bullet and so any progress must be carefully planned, evaluated and implemented.
It is with this in mind that we the Trustees have as a key objective to ultimately pay meaningful dividends. A recent review of our dividends policy has revealed that we should maintain the date of 2019 as the target date for dividends. Anything prior to this date will mean that dividends paid out will be insignificant in relation to what could be paid out in the longer term. Such an early dividend payment would thereby
Ngati Hine Forestry Trust Annual Report 2012