Want To Be A Shareholder?
As at the end of this financial year 30th April 2011, 4,223 shareholders own share types of:
A shares - valued at $1
B shares - valued at $20
C shares - valued at $20
The trust also holds “D” shares
The value of each share is the sale and purchase price.
RAL’s company Constitution precludes any shareholder holding, in aggregate, more than 100 shares and RAL is structured such that all income is used for its primary purpose of promoting snow sports on Mt Ruapehu. No return on profits is available for shareholders.
People ask “why then would I purchase shares if there is no return?”.
The answer to that question, which is a fair question, is; that as a shareholder you are entitled to vote and therefore you have an input into the future direction of the company via your Board of Directors. Because RAL reinvests all its profits into the improvement of ski area facilities and services, you as a shareholder, by not receiving pecuniary benefits, make a positive contribution toward those improvements. In past years RAL has offered other non-pecuniary benefits to shareholders, however the introduction of Fringe Benefit Tax in the early 1990’s has precluded RAL from offering these types of benefits since.
Shares are available for purchase and are held in a Trust in the name of CD Williams. Dan Williams is the company’s Secretary and facilitates the sale and purchase of shares and manages the share register. The purchase price is at the face value of the shares as mentioned above.
If you are interested in purchasing shares please email the company’s Secretary at cdwilliams@deloitte.co.nz or write to Dan Williams, Deloitte, P O Box 1990, Wellington 6011.
