Quayside Holdings Limited
Quayside Holdings was established by the Bay of Plenty Regional Council in July 1991 with the objective of managing the Council's shareholding in Port of Tauranga in a commercial and efficient manner, while maximising the return to ratepayers of the Bay of Plenty region. Quayside Holdings is a "council-controlled organisation" for the purposes of the Local Government Act 2002. Quayside Holdings is 100% owned by the Council and has a diversified investment base, which it manages through its wholly owned (except for the 100 $1 non-voting C units held by the Council in the Quayside Unit Trust) subsidiaries – Quayside Securities, the Quayside Unit Trust and Quayside Properties. Quayside Holdings also separately manages a portfolio of investment assets, which predominantly consist of Australasian equities. The gross value of this portfolio as at 30 June 2011 was $20.0 million.
Quayside Securities and the Quayside Unit Trust
Quayside Securities was established in 1991 and has the sole purpose to act as a trustee for the Quayside Unit Trust, owning as trustee approximately 55% (73 687 536 shares) of the voting shares in Port of Tauranga. As part of this role, Quayside Securities manages a portfolio of other investment assets, comprising a balance of Australasian and international equities. This portfolio arose from a return of capital by Port of Tauranga in February 2002. The gross value of this portfolio was $39.6 million as at 30 June 2011.
The capital of the Quayside Unit Trust comprised: