Ownership

We are owned by the Marlborough Electric Power Trust, which holds the shares in the company on behalf of its beneficiaries - who are the current and future electricity users in the Marlborough region. The Marlborough Electric Power Trust comprises six elected Trustees, two of whom are elected on an annual rotating basis. The Trustees do not have any direct involvement in the operation of Marlborough Lines. Their role is to approve Marlborough Lines' Statement of Corporate Intent, determine the allocation of electricity users' dividends and appoint the company directors. An Ownership Review was understaken in 2008 and reports in relation to the Review are available in PDF format by clicking on the following links:  Marlborough Lines Ownership Review Report 2008 Directors Ownership Review Report 2008 Management Marlborough Lines is managed by a commercially qualified Board of Directors. The Directors are appointed by the Trustees on a rotating basis and have responsibility for the commercial operation of the company. The Directors of Marlborough Lines currently comprise: Messrs: David Dew (Chairman), Ken Forrest (Managing Director), Joanne Buckner, Anthony Beverley, Terry Shagin, Ross Butler and Des Ashton. The senior executives of Marlborough Lines include: Messrs: Ken Forrest (Managing Director), Katherine Hume-Pike (Commercial Manager), Brian Tapp (Operations Manager), Steve McLauchlan (Manager, Marlborough Lines Contracting) Geoff  Hoare (Company Secretary), Wayne Stronach (Engineering Manager). Corporate Governance The Marlborough Lines Directors have adopted the attached statement in relation to Corporate Governance (please click on the following link to view the statement): Marlborough Lines Corporate Governance

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