Hautaki was incorporated in 2000. The Hautaki Trust was established pursuant to S73 of the Human Rights Act 1993 to:
- Increase the participation of Maori in the knowledge economy, in particular the information and telecommunication sector in New Zealand; and
- acquire spectrum management rights and to enter into successful commercial arrangements in regard to those rights for the benefit of Maori and the beneficiaries of this trust.
There are currently five directors on the board of Hautaki Limited, George Reedy (Chair), Mavis Mullins, Steve Murray, Toa Greening and Daphne Luke. Daphne, George and Toa serve as Trustees of Te Huarahi Tika, which is the sole shareholder of Hautaki Limited. In turn, Te Huarahi Tika is the sole beneficiary of Hautaki.
Over the last decade, Hautaki has, through additional investment and investors, established an interest in the development in Aotearoa’s third major mobile company, 2degrees.
The major shareholders of 2-Degrees are Trilogy International Aotearoa LLC (incorporated in the USA), Tesbrit B.V (incorporated in the Netherlands), and Hautaki.
Hautaki Limited holds approximately 8.5 million shares as trustee of Hautaki, and acts as custodian for 19 million shares which are beneficially owned by other Maori investors.
2Degrees is a privately owned company and the ability to sell and purchase shares is subject to a shareholders’ agreement. Early negotiations with the other shareholders, allowed Hautaki Limited, on behalf of Hautaki, to acquire shares through capital raising and to sell those shares to a special class of investor known as “Approved Maori Investors”. This recognised Hautaki Limited’s custodial role as facilitating investment amongst other Maori organisations in 2degrees.
Previously, Hautaki had undertaken three rounds of attracting Maori investment. The first, in 2007 resulted in the sale of 19 million shares held by Hautaki Limited, again in 2010 and finally, in 2014 none of which resulted in any new investment.
Tama tu, tama ora; tama noho, tama mate
He who stands, lives; he who sleeps, falls.