Te Arawa Group Holdings

CHRONOLOGY

The following table details key TAGH milestones:

Year Timeline of Key TAGH Milestones
September 2003 Numerous mandating hui were held with respective Affiliate Te Arawa Iwi/Hapū who approved resolutions to enter into direct negotiations with the Crown and to appoint representative to Nga Kaihautu o Te Arawa.
September 2003 Structure of Nga Kaihautu was adopted
26 November 2004 Terms of Negotiation agreed between Affiliate Te Arawa Iwi/Hapū and the Crown
5 September 2005 Agreement in Principle agreed between the Affiliate Te Arawa Iwi/Hapū and the Crown
20 December 2005 Agreement in Princple varied
30 September 2006 Original Deed of Settlement entered into between Affiliate Te Arawa Iwi/Hapū and the Crown
30 September 2006 Announced at the signing that $100,000 will be made available to each Affiliate Entity. A $5,000 grant was also made available to each Affiliate marae
1 December 2006 Te Pumautanga o Te Arawa Trust Deed signed establishing the Te Pumautanga o Te Arawa Trust
23 March 07 TAGH Incorporated by the New Zealand Companies Office
11 June 2008 TPT negotiates a revised settlement, which is ratified by 97% of participating adult beneficiaries
11 June 2008 TPT Revised Deed of Settlement is signed.
25 June 2008 CNI Deed of Settlement is signed
12 June 09 Resolution passed by TPT to distribute $1m to each Affiliate Entity
1 July 2009 Settlement assets are transferred from the Crown to TPT
3 July 2009 TPT transfers $1m to each Affiliate Entity
24 July 2009 Resolution passed by TPT to capitalise TAGH
24 July 2009 TPT transfers $34m to TAGH
August 2009 Resolution passed by TPT to amend the Constitution to enable two trustees to be appointed as TAGH Directors and to allow TAGH to transfer 99 “B” shares to Affiliate Entities
September 2009 Information hui on proposed amendments to the TPT Trust Deed
September 2009 Ballots sent to adult registered beneficiaries
October 2009 94% of participating adult beneficiares support the proposed amendments
May 2010 TAGH is fully operational
28 May 2010 Purchase and registered transfer of the DSP property (54 Collins Road) from the Crown to TPT
2 June 2010 Launch of TAGH to Affiliate Entities
2 June 2010 Class B Shareholders receive and endorse the Strategic Plan for 2010 – 2020
2 June 2010 The Shareholders endorse the long term investment focus and proposed strategies as set out in the Strategic Plan for 2010 – 2020
11 June 2010 TPT appoint Fred Cookson as independent Director to TAGH
18 June 2010 TAGH purchase of DSP property from TPT and on-sale to the Tyleam Family Trust
30 June 2010 TPT Board approve the appointment of independent Directors Andrew West and Wally Stone
19 July 2010 TAGH purchases a 1,450ha forest block at Horohoro
10 December 2010 TPT receive and approve TAGH’s Constitution.
10 December 2010 TPT trustees pass resolution delegating the authority and management of the Geothermal Statutory Acknowledgment in favour of TAGH
10 December 2010 TPT receive and approve the proposed Shareholders Agreement in principle, subject to amendments
10 December 2010 TPT appoint Wallace Haumaha as TAGH’s inaugural Chair
21 March 2011 TAGH purchased shares in Raukokore Gold Development Limited GP
9 September 2011 Registration of the TAGH Constitution with the Companies Office
24 & 25 September 2011 Affiliate workshops on the Shareholders Agreement
19 November 2011 Signing of Shareholders Agreement by the Class A and Class B Shareholders