Latest Ownership Review Completed
The latest review of the ownership of the shares in Top Energy Ltd has been completed. The Trustees of the Trust have decided that the shares will continue to be held in trust for the power consumers of the Far North who are connected to the Top Energy distribution system. This position is expected to continue for up to five years from the date the decision is made i.e. 6 December 2016.
Who should own Top Energy?
Far North power consumers connected to Top Energy’s line network own the company with the shares being held, on their behalf, by the Top Energy Consumer Trust.
Every 5 years, the Trustees consult with local power consumers on their preference for the ownership structure of Top Energy. The requirements are set out in the Trust’s Deed.
How is a Review conducted?
The Trust Deed requires Top Energy’s Directors to produce a report which details their analysis of the advantages and disadvantages of various types of ownership structure. It also contains their recommendation in relation to continued ownership. The Director’s Report is supported by a PwC report which provides detailed analysis of past performance and possible ownership options.
Your Trustees are required to review this Directors’ report and to set out any comments on it in a Trustees Report.