CONSUMER POLL RESULTS – DECEMBER 2001

I SUPPORT the resolution                        10,365            81.79%

I do NOT support the resolution                2,297            18.12%

Informal votes                                                10

Total Votes                                               12,672            52.79% return

An overwhelming majority of voters in the South Canterbury Power Trust public poll want a long term trust.

The declared results of the poll, which closed at 12 noon on the 24th December 2001, showed that 12,672 people returned their polling papers.  This was a response rate of 52.79%.  Of those, 81.79% (10,365) supported the Power Trust’s resolution to extend the Trust’s life, and 18.12% (2,297) did not vote in support of that intention.

Alister France, Chairman South Canterbury Power Trust, said the Trustees were extremely grateful for the confidence and support demonstrated by the Trust’s beneficiaries, electricity consumers in the Timaru, Waimate and Mackenzie districts.

“It certainly reinforces the mandate we got from the previous poll held in May and totally vindicates our determination to protect and secure the 40% shareholding electricity consumers hold via the Trust in Alpine Energy Ltd.”

Mr France said the Trustees had not really expected this poll would give both a higher return of papers and an even stronger response that the May poll. He considered many people reacted against the actions by Timaru District Council to thwart the poll and they clearly wanted to protect the Trust’s long term interests.

“We also thank electricity consumers for the confidence they have expressed in the ongoing role of the Power Trust in South Canterbury.  Despite the efforts of the Timaru District Council to compromise the poll, voters have understood the importance of retaining the Trust for the benefit of future electricity users in this region. The overwhelming majority have expressed a view that must be taken seriously and surely the Timaru District Council will respect that,” Mr France said.

 “The next step in the process is for the Trustees to approach the High Court and seek approval for their actions in extending the perpetuity of the Deed.  The hearing has been set for Tuesday, 4th June in the High Court, Christchurch.”