The Group is controlled by Infratil Limited (incorporated in New Zealand) which owns 50.6% of the Company's voting shares. The Tauranga Energy Consumer Trust owns 33.0% and the residual balance of 16.4% is widely held.
A related entity of H.R.L. Morrison & Co Limited manages Infratil Limited and M Bogoievski, a Director of TrustPower Limited, is the Chief Executive of H.R.L. Morrison & Co Limited. Mr HRL Morrison is an alternate Director of TrustPower Limited and is a Director of Infratil Limited. Infratil Limited is the parent
of TrustPower Limited and $40,000 (2010: $7,000) was paid to H.R.L. Morrison & Co Limited and related entities during the year for consultancy services. As at 31 March 2011 none of this amount was outstanding (2010: nil).
Consultancy fees of $24,000 (2010: $10,000) were paid to Lumo Energy Pty Ltd which is a subsidiary of the Group's ultimate parent. As at 31 March 2011 none of this amount was outstanding (2010: nil).
Mr MJ Cooney, a Director of TrustPower Limited, is a partner in the law firm Cooney Lees Morgan. $18,000 was paid to Cooney Lees Morgan for legal services in the year to 31 March 2011 (2010: $14,000). As at 31 March 2011 none of this amount was unpaid (2010: nil).
Except as noted above, no transactions took place with related parties during the year. All transactions with related parties take place on an arms length basis. No related party debts were forgiven or written off during the year. Except as noted above there are no amounts outstanding at 31 March 2011 (2010: nil).