TECT to consult on structure changes; rebate protected
Trustpower announced on 28 January 2021, that it is undertaking a strategic review of its retail business, that includes a potential sale.
We wrote to all beneficiaries and valued stakeholders of TECT, to let them know that Trustpower’s decision means that TECT has to change.
Trustees have released a proposal that outlines the changes to TECT’s structure needed to meet the purpose of the Trust Deed, and to ensure that the best interests of the Trust and its beneficiaries are protected. This proposal protects the rebate for existing TECT beneficiaries for approximately 30 years.
You can learn more about the proposal in the video below.
All TECT beneficiaries are entitled to make a submission on the proposal. Beneficiaries who wish to comment on the proposal are invited to make a submission in writing by 4:00pm, Monday 22 March 2021.
Submissions can be made online here, or via post with all submissions addressed to TECT, PO Box 637, 7th Avenue, Tauranga 3144.
The detailed Notice of Proposal has been emailed to all beneficiaries and you can find all additional information below.
Consumer Information Sessions
The Trustees are also holding a series of information sessions to outline the proposal and answer any questions: