Name: Hautaki Limited
Also Known As:
Entity Type: Limited company
Affiliations: Te Huarahi Tika Trust, Hautaki Trust, 2Degrees Mobile, Tūaropaki Incorporation, Wairarapa Moana Trust/Wairarapa Moana Incorporation
Industry Sector: Telecommunications
Web site: http://www.thtt.co.nz
Date Established: June 2000
Membership Model: Elected Board of Directors from Te Huarahi Tika and Māori community.
Hautaki is the commercial arm of Te Huarahi Tika Trust.
Hautaki engages in activities necessary to ensure 3G spectrum maximises opportunities for Maori in line with the objectives of the Hautaki Trust.
The charitable trust, Te Huarahi Tika Trust, formed a commercial entity known as Hautaki Trust. This trust is governed by Hautaki Limited, a company established to be the Trustee of Hautaki Trust. Te Huarahi Tika Trust is the sole shareholder of Hautaki Limited. Te Huarahi Tika Trust is also the beneficiary of the Hautaki Trust and appoints its Trustee.
The Hautaki Trust initially took a 30% shareholding in Econet Wireless (NZ) Ltd and over the next eight years worked with global interests to secure partners to fund the $150M – $300M needed to establish the service. The Trust’s representatives were also heavily involved in lobbying the government to change the regulatory environment to allow the introduction of New Zealand’s third mobile service.
Through a capital raising programme from 2005-2009, Māori shareholding (available in $1m minimum parcels) increased to 19.5% of the company. The other major new Māori shareholders are the Tūaropaki Incorporation and the Wairarapa Moana Trust/Wairarapa Moana Incorporation.
NZ Communications Ltd, previously EconetNZ, announced it would launch its cell phone venture commercially in August 2009 along with its new more commercial company name – ‘Two Degrees Mobile Ltd’. In mid-July 2009, in another significant change of stake holding, Econet Wireless (the original South African /Zimbabwean partner of eight years) announced it had sold its shareholding to Trilogy International Partners LLC, an American company already holding 27% of shares in Two Degrees. By way of the sale Trilogy took a further 25% shareholding in Two Degrees Mobile Ltd to take its shareholding to 52%. The price for the purchase was not disclosed.
Between 2010-2012 Two Degrees engaged in a significant capital raising effort ($200M) through the issuing of new shares. Hautaki agreed to an arrangement that would allow it to borrow from Trilogy in order to maintain the Māori ownership percentage. This arrangement contributed significantly to the growth of the network; another consequence was the development of a $14M obligation to Trilogy. In late 2014, Hautaki retired that debt in full through a transfer of share ownership to Trilogy.
- Antony Royal
- Bill Osborne
- Brian Leighs
- Daphne Tania Luke
- Derek Wooster
- George Haig Reedy
- Karaitiana Taiuru
- Mavis Mullins
- Nachelle Griffiths
- Neville Baker
- Paul Majurey
- Steve Murray
- Taaringaroa Nicholas
- Toa Greening