Past Directors contact Tony Loveday 027-2247-297 or Peter Tiedemann 021-764-664
Whitby Corporation Limited (WCL) was the original owner of what is now known as Silverwood Land 2015 Limited Partnership (SLP). In 1990 WCL sold its interest in its forests and land to Silverwood, taking a 15% interest in SFP, and taking a 50% interest in SLP. SFP and SLP are managed by Silverwood Corporation Limited as set out in the prospectus available under ‘About us’ – Silverwood Forest 1990 Prospectus
Until 7 December 2017 WCL was an investment company in the end only holding 50% of SLP units. WCL two directors, Tony Loveday and Peter Tiedemann, are also directors of SCL.
(Note: SFP was dissolved in 2010 and a final distribution was made by SFP to its unit holders, including WCL. This distribution triggered a WCL buy-back of shares completed Q1 2011.)
With now only one investment left, i.e. 50% of SLP, future SLP distributions did reduce WCL accumulated losses. On 7 December 2017 the WCL AGM was followed by a Special General Meeting and shareholders voted in favour of a voluntary liquidation of Whitby Corporation Limited and appointed Richard Hudson of Hudson Taylor Charted Accountants as the official liquidator, Tony Loveday an d Peter Tiedemann directorships came to an end together with the company,
It was agreed that WCL shareholders would accept the 524,000 Silverwood units held by WCL in the same % of their share holding in WCL. Cash available was distributed to WCL shareholders in the normal manner and a small end distribution is envisaged some time in 2018.
The unanimous decision to liquidate was made for the benefit of WCL shareholders as costs to administer, direct, audit and distribute all disappear yet the income from Silverwood, now directly distributed, remains the same. This saves WCL shareholders some $40,000 pa.
To maintain the WCL spirit, Silverwood will invite all its unit holders in the Wellington region to an informal meeting to replace what was the WCL AGM – same location, same time off the year, only subject to attendees interest.