Shares may be transferred as a gift or as a sale to a person in any one of the following groups:

(a)  Children and remoter issue (for example, grandchildren).

(b)  Whanaunga who are associated in accordance with Tikanga Māori with the land vested in Wakatū.

(c)  Other beneficial owners of the land who are members of the hapu associated with the land vested in Wakatū.

(d)  Trustees of persons referred to in any of Paragraphs (a) to (c) of this definition.

(e)  Descendants of any former owner who is or was a member of the hapu associated with the land vested in Wakatū.

(f)  A shareholder in Wakatū who is also a member of the hapu associated with the land vested in Wakatū.

For gifting shares please see attached form.

 

Buying or selling shares

To assist owners who wish to buy or sell shares, we provide an online space where owners can introduce themselves  to each other. This service is independent of the Incorporation and must be used in accordance with our rules and restrictions.

When looking to sell or purchase Wakatū shares, please be aware of the following:

• Wakatū is not liable for the outcome of any sales. We act purely in the role of a conduit by providing a way for sellers and buyers to meet;
• The purpose of the site is solely to enable owners to exchange contact details. Any negotiations and discussions relating to the shares must not be conducted online via this website, but must take place directly between the owners;
• The market value for the sale of shares by a shareholder is negotiable between the seller and the purchaser;
• We strongly recommend that you seek independent advice before agreeing on a sale price;
• Please note that the purchaser must be aged 20 years or over.  Otherwise the shares will need to be transferred into a trustee’s name;
• At the Annual General Meeting held on 26 November 2005, Wakatū passed a Special Resolution setting the minimum shareholding at 100 shares. Therefore please note that the minimum number of shares that may be transferred is 100;
• Any misuse of the site willr esult in users being denied access and their contact details being removed.

We provide a share transfer form to be completed and signed by the seller and purchaser and a declaration to be completed by the purchaser. See attached form.

If you have any further queries, please do not hesitate to contact:

Celia Hawea
Shareholder Liaison
Email: celia@wakatu.org
Call +64 3 546 8648