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Ed Sheeran

Taiuru quits spectrum trust

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The troubled Maori spectrum trust Te Huarahi Tika has lost one of its directors.

Maori internet advocate Karaitiana Taiuru says his resignation was tendered at last November’s annual meeting, to take effect on April 1.

He’s also resigning from its commercial arm Hautaki, which manages its investment in mobile phone company Two Degrees.

Mr Taiuru says he wants to take on new challenges and commitments in his professional life, as well as become more involved with his local hapu and tribal politics in Ngai Tahu.

At the AGM the trust claimed it had group assets worth $9.5 million, mostly in Two Degrees shares.

But the auditors tagged the financial statement, saying the trust isn’t generating enough revenue to pay its operating costs, and only got through the year by selling some of its shares to the company's majority shareholder Trilogy International.
 

Copyright © 2016, UMA Broadcasting Ltd: www.waateanews.com


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