FAR NORTH HOLDINGS LIMITED
Minutes of a Director’s Meeting
Held at the Bay of Islands Airport
on Monday 14th March 2022
starting at 10.00am
Present:
Bill Birnie (Chairman)
Murray McCul y
Kevin Baxter
Sarah Petersen
In attendance:
Andrew Nock (Chief Executive, FNHL)
Rick Palmer (company lawyer - Palmer McCauley)
Kim Gubb (Finance Manager, FNHL)
1.
Apologies
There were no apologies for the meeting.
2.
Director only time
Directors discussed CEO remuneration and KPI’s, with the Board Chair to circulate
updated KPI’s for Board agreement.
3.
Declarations of interest
Sarah Petersen disclosed her potential interest due to her Director role with Tupu Tonu,
and her engagement as Acting CFO for FNHL via SODA Group Limited.
4.
Matters Arising from the minutes dated 14 February 2022
5.
Approval of the minutes from the meeting dated 14 February 2022
6.
Health & Safety / Risk Management
FAR NORTH HOLDINGS LIMITED: MINUTES OF DIRECTORS MEETING
14 March 2022
Page 3
7.5 Housing Co – Establishment Update
The Establishment Board wil continue to take advice to support a potential equity raise
of up to 50% over the next 12 to 18 months. Management noted that they have
approached Tupu Tonu regarding potential investment in Kamo Road and / or Kaikohe
RSA. Sarah Petersen noted her potential conflict and wil be excluded from any decisions
accordingly.
8.
General Manager Property Report
The report was received and noted.
FAR NORTH HOLDINGS LIMITED: MINUTES OF DIRECTORS MEETING
14 March 2022
Page 4
9.
Business Development Reports
10. Finance Reports
FAR NORTH HOLDINGS LIMITED: MINUTES OF DIRECTORS MEETING
14 March 2022
Page 5
10.2 Policy Approvals
10.3 Dividend Resolution
10.4 Strategy Workshop
10.5 Finance Report & Management Accounts
11.0 Other Business
FAR NORTH HOLDINGS LIMITED: MINUTES OF DIRECTORS MEETING
14 March 2022
Page 6
Confirmed:
……………………………….
Bill Birnie CNZM (Chairman)
4 April 2022
