Nuhaka considers funding options
Nuhaka Farm Forestry Fund will require further funds to maintain its forests through to maturity, says the trustee general manager, Mr B. D. Smaill. In the fund’s annual report, he said the trustee and professional advisers were considering options to raise the required amount. The cost of forest management, forest operations, and
trustee’s expenses were $244,354, within budget for the year. Cyclone Bola did negligible damage to the fund’s forests in its passage over the East Coast. No mention is made in the report of the “don’t sell” notice issued by the trustee to unitholderes on September 7. Income exactly matched
expenses at $40,585, so Nuhaka made neither a profit nor a loss. It lost $965 in the previous year to March 31. Income fell 34.6 per cent and expenses dropped 36.1 per cent. Unitholders’ capital rose $672,351 to $7,661,293, including a steady number of units at $1,389,600. UniTholders’ equity is 551 c (503 c previously).
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Press, 29 September 1988, Page 35
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160Nuhaka considers funding options Press, 29 September 1988, Page 35
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