The purpose of this Unit Holders page is to provide the owners of the 1048 SLP units, and the WCL shareholders, with occasional up-dates regarding their investment.
The Silverwood Forest Corporation Ltd and Company is the managing company of the Silverood Land Partnership (SLP)
SLP distributed $1,050 per unit in June 2013. This distribution means that the $1,550 per unit original capital investment by partners in 1990 and in 2003 has now been repaid in full and that future distributions will be profits. The equity still stands over $7M suggesting further distributions can be expected in the years to come.
SLP entered into a Joint Venture arrangement with Verplank I Limited and Verplank II Limited and appointing Carrus from Tauranga the managing partner covering SLP Lots 1 and 2. Most of Lot 1 is under contract and over half of the 194 sections developed on Lot 2 have been sold. .
WCL: Whitby Corporation Limited owns 50% of all SLP units. It received therefore 524 x $1,050 or $550,200 in June last. WCL directors promptly approved a buy back of WCL shares at $2 per share providing shareholder approval exceeded 90%.
This was completed in July 2013.
The website for SFCL and WCL is www.silverwoodcorporation.co.nz
The website for SLP Lots 1&2 JV partner is www.carrus.co.nz it provides Silverwood] Residential Estate details which can also be followed on www.silverwoodestate.co.nz and on www.whitbysectionsforsale.co.nz
Google Earth link to Silverwood Residential Estate in Whitby
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