$1.3 million still to be claimed
All too often, a story about people being told they are due a cash windfall doesn’t end well, but for over 400 Horizon shareholders, the news couldn’t be better.
Those four-hundred-and-forty shareholders are entitled to claim their share of $1.3 million - the proceeds of the sale of their shares in Horizon Energy to Eastern Bay Energy Trust. Local householders, businesses, Incorporated Societies, community groups (including churches) and estates are amongst the shareholders yet to claim.
Eastern Bay Energy Trust acquired 100 percent of the shares in Horizon Energy in 2015 after a consumer poll supported the move and agreement was reached with Marlborough Lines Limited for the purchase of its Horizon shareholding.
Eastern Bay Energy Trust paid $4.41 per share and at the time the majority of consumers with line connections through Horizon completed the process to claim their funds. Most local households had an average of 550 shares and received around $2,400.
“Some of the outstanding shareholders had multiple connections and therefore more shares, so the amounts to claim range from $2,000 to over $17,000”, explains Eastern Bay Energy Trust chairman Don Lewell.
“We’re really keen for people to receive their payments, to the point where Trustees have been contacting those on the register they know personally. We’re doing all we can but in some cases peoples contact details may have changed so we strongly encourage individuals to take action and check that they’ve received what they’re entitled to.”
Horizon Chief Executive Officer Ajay Anand also encourages outstanding shareholders to claim their payments. “It’s a relatively easy process and outstanding shareholders are encouraged to call Computershare on (09) 488 8700 to guide them through the process of claiming their funds. As with any claims process, proof of identify will be required. Shareholders should check their historic records for communication from the Company, and/or bank accounts for previous dividends payments, to establish whether they are entitled to receive payment from the sale of Horizon shares.”
“It is important for outstanding shareholders to make a claim as any funds remaining unclaimed after six years are passed to the Government Consolidated Fund.”
Meanwhile, the Eastern Bay Energy Trust approved grants totalling almost $68,000 at its April meeting:
Whakatane Golf Club ($50,000.00) towards electrical wiring, heating, lighting and security.
Whakatane Society of Arts and Crafts Incorporated ($13,400) for insulation, heating and kiln extractor unit.
Eastern Bay Chamber of Commerce ($4,535.04) towards sound and lighting for the Horizon Business Excellence Awards.