Local power company EA Networks is proposing changes to modernise its constitution at its Annual General Meeting (AGM) on 29 August.

The Ashburton District Council, as the holder of rights attached to deferred shares in EA Networks, supports the proposed changes and will vote in favour of the constitution amendment at the AGM.

Deputy Mayor Liz McMillan says most of the changes modernise outdated parts of the constitution.

“We support changes that enable shareholders and board members to interact with the organisation more easily in 2024, such as using online meetings and paying by online banking.”

Other changes are around clearer procedures for appointments and nominations of the directors and Shareholders Committee.

“We also support changes which provide greater transparency and ensure fair representation of the needs and interests of the company.”

Any references to any outdated legislation will be updated to the equivalent replacement legislation.

More info available here:

https://www.eanetworks.co.nz/disclosures