4 0
TAINUI GROUP HOLDINGS
limited
(TGH)
The Board of Directors have pleasure in presenting
the Annual Report including the Audited Financial
Statements of TGH (the Company) and its subsidiaries
(the Group) for the year ended 31 March 2012.
Principal Business Activity
TGH’s principal business activity is to manage the
commercial interests of the Shareholder, Waikato-
Tainui Te Kauhanganui Incorporated which includes
assets returned by the Crown through the Waikato
Raupatu Claims Settlement Act 1995.
There have been no signifcant changes in the nature
of these activities during the year.
Results
The results for the year are reported in the statements
of comprehensive income on
The Group has
recorded a net proft of $39 million (2011: $23 million).
The Group’s total equity as at 31 March 2012 was $374
million (2011: $332 million). Further information on the
movements in equity is provided in note 10 on
The Directors are satisfed with the results for the year.
Directors
The following persons held offce as Directors of the
Company as at 31 March 2012:
Director
Appointed
J L Spencer (Chairman)
30 January 2003
M N Allen
1 June 2009
M Cockram
25 March 2011
R S Papa
3 November 2010
R T M Schaafhausen
1 June 2009
Hon. K TWetere
9 April 2002
There were no appointments or resignations of
Directors of the Company during the year.
The Director’s profles are reported on
The Company has eleven (2011: nine) subsidiaries
as listed in note 3 of the fnancial statements on
Pohio and T Potaka are the Directors of nine
(2011: seven) of the subsidiaries. M Pohio and NYork
are Directors of one subsidiary and one subsidiary
is a limited partnership. M Pohio, T Potaka and NYork
do not receive any remuneration or other benefts as
Directors of subsidiaries within the Group.
Directors Remuneration
The remuneration received by Directors during the
year is as follows:
Consolidated & Parent
2012 2011
$’000 $’000
J L Spencer (Chairman)
80
65
M N Allen
40
41
M Cockram (appointed 25 March 2011)
40
-
J Eriksen (resigned 31 December 2010)
-
28
R S Papa (appointed 3 November 2010)
40
11
R T M Schaafhausen
40
32
Hon. K TWetere
40
32
J Wilson (resigned 3 November 2010)
-
19
28
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Use of Company Information by
Directors
There were no notices from Directors of the Company
requesting to use company information received in
their capacity as Directors which would not otherwise
be available to them.
Auditors
PricewaterhouseCoopers has indicated their
willingness to continue in offce. Audit fees paid to
PricewaterhouseCoopers are outlined in note 5 of the
fnancial statements on
Donations
There were no charitable donations made by the
Company or Group during the year ended 31 March
2012.
Shareholder Resolution
The Shareholder of the Company has exercised its
right under section 211(3) of the Companies Act 1993
and unanimously agreed that this Annual Report need
not comply with paragraphs (e), (g) and (h) of section
211(1) of the Act.
Signed for and on behalf of the Directors of the
Company on the 22nd of June 2012.
Mike Allen, Director
John Spencer, Chairman
Directors’ Report