Fibre and Fleece gets behind Energy Trust

After a brief hiatus in 2014, the Ōpōtiki Fibre and Fleece Show will be back from 10 to 12 July this year. The ANZAC themed show is expected to be better than ever, thanks to a vibrant organising committee and funding from the Eastern Bay Energy Trust.

Event organiser, Paula Black, said the show has been running for almost 25 years. This year, audiences will see a fresh format including a specialised lighting and sound show, new choreography, large projector screens and a very different runway experience that will enable audience members to see more of the costumes’ details.

Ms Black is grateful to the committee of dedicated volunteers who make the event happen as well as the funders, like the Energy Trust. The Energy Trust helped fund new lighting and audiovisual equipment, which Ms Black considers will take the show to a completely new level.

“We’ve been to the World of Wearable Arts shows and have brought back ideas about how we can use modern technology on a small local scale. The technology helped create a show that is a mixture of fashion innovation and entertainment.

We have been lucky enough to add some creative and talented young people to our committee, who, along with the old hands, have taken the show through a rebuild and creative rebirth,” said Ms Black.

The Fibre and Fleece Committee pledged to throw its weight behind the Energy Trust’s Horizon share purchase poll running until 26 June.  The Energy Trust currently owns 77.29% of shares in Horizon, the local lines company, and seeks to purchase all shares.

Ms Black advised, “In order to purchase the Horizon shares, the Energy Trust needs the community to vote ‘yes’ in the consumer poll.

We think it makes good economic sense to reclaim the asset base for community benefit. You do not get many chances to make a difference, but the consumer poll gives us the chance to vote ‘yes’ and help make something good happen for our community.”

The Energy Trust will borrow $25 million dollars in order to purchase the shares.  Trust Chairman Don Lewell said that borrowing the money would be cheaper than withdrawing money from the Trust Fund, which earns as much as [2%?] more than market interest rates.

Mr Lewell said that the Trust aims to pay pack the loan over ten years with repayments made from increased earnings from Horizon.  He noted that if the share purchase were successful, then Horizon would be delisted from the New Zealand Stock Exchange, which could represent a saving of approximately $250,000 per year on costs such as listing fees, compliance costs, reporting costs, investor relations and AGM costs.

Further savings would result from Horizon no longer needing to report to the Commerce Commission, and finally, the company would be eligible to apply for the charitable business income tax exemption under the Income Tax Act 2007, which could lead to savings in excess of $2 million per year.

The Eastern Bay Energy Trust currently grants $1.5 million per year to community organisations including marae, schools, clubs, preschools and district councils.  The Energy Trust has returned more than $33 million to the community for energy related projects since it began in 1994.

Anyone with a power account in the Eastern Bay is eligible to vote in the consumer poll.  Voters will receive their voting documents by mail from Friday 5 June and have until midday on 26 June to vote.