MEPT Newsletter
November 2024
Welcome to the Spring Update! Each quarter we will bring you news of what’s happening at the Marlborough Electric Power Trust (MEPT).
As a reminder, Marlborough Lines is owned by the beneficiaries - that’s everyone in Marlborough with a power connection. The job of the Trust is to hold all the shares on behalf of the beneficiaries and ensure that the value of the investment is protected, enhanced and applied for their benefit, as defined by the Trust Deed.
It is important to understand that the Trust does not have any influence on the operations or day-to-day running of Marlborough Lines or its subsidiaries or investments. That role rests with the Marlborough Lines Board of Directors.
New website
We’re pleased to unveil the new Trust website. All relevant documents are available including details about Trustees, annual public meetings, news updates, elections and some interesting history and great photos. The new website is smartphone friendly and provides a cleaner, more intuitive browsing experience. Head to www.mept.co.nz
An earlier Annual Reporting Meeting
We are pleased to confirm that our 2024 Annual Reporting Meeting will be held at 7pm on Monday November 25 at Stadium 2000 in the Programmes Room. Copies of the Marlborough Lines Annual Report and Marlborough Electric Power Trust Annual Report will be available on the night. You can also read them via the new website from 19th November.
New Directors for Marlborough Lines
The Trust was delighted to receive many strong applications for two positions up for rotation on the Marlborough Lines Board. It is heartening to see the enthusiasm there is for Marlborough and the critical infrastructure delivering our electricity needs.
The newly appointed Directors are Matt Kerr and Matt Todd. Matt Kerr will be known to many locals as a former Director of WK Advisors & Accountants. He has strong community ties as Chair of Marlborough Stadium Trust and serving on the Marlborough Hospice Trust. Matt is also currently chair of Marlborough Airport and Marlborough District Council Holdings and a grower director for the Marlborough Grape Growers Cooperative.
Chair of the MEPT, Domenic Romano said, “Our Trust believes Matt is an outstanding candidate who will bring a proven set of skills to our lines company board and its investments.”
Matt Todd has an equally impressive set of credentials to serve Marlborough Lines.
"Matt stood down in May after 20 years as Chief Executive of the Eastland Group in Gisborne/ Tairawhiti which owned and operated the local lines company, a renewable energy portfolio, local port and airport and property holdings. He was instrumental in helping develop this diverse range of businesses and investments.”
Mr Todd also chairs GisVin a winery service provider which processes a large share of Gisborne’s annual vintage.
“This background, along with that in the lines business and a proven capacity to look for new opportunities confirmed for trustees that Matt Todd will be an excellent addition to the Marlborough Lines board,” said Domenic Romano.
Mr Kerr and Mr Todd will next month replace retiring directors Jonathan Ross, who has served on the Marlborough Lines Board since 2014 and Steven Grant, who joined the Board in 2017.