Review Decision 2001

SOUTH CANTERBURY POWER TRUST

MINUTES OF A MEETING OF THE SOUTH CANTERBURY POWER TRUST HELD IN THE BOARD ROOM OF ALPINE ENERGY LIMITED, WASHDYKE, ON THURSDAY 22 NOVEMBER 2001 AT 11.45 AM.

PRESENT

Mr A J France (In the Chair), Messrs L W Blakemore, H R Smith, Mrs J R Lobb. Representing Alpine Energy Ltd – Messrs 1 J Bowan, J A Dobson, R G Sinclair, S R Thompson, A 0 Turner, F J T Pearce and E J Powell and T M Siinpson (Secretary).

APOLOGY

An apology for absence was received and sustained from Mr A W Andrews.

SUBMISSIONS

Submissions from Grey Power and Mr Denis Dowling were received.

TRUSTEES RECOMMENDATION

Arising from a comment by Mr R G Sinclair the Chairman clarified that any action to extend the life of the Trust did not form part of the three year review procedure

TRUST REVIEW DECISION

It was RESOLVED to adopt the decision that the shares held in Alpine Energy Limited continue to be held in trust in accordance with clause 4.4(a) of the Trust Deed.

There being no further business the meeting closed at 12.15pm.