Responsibility to Shareholder

The New Zealand Refining Company is very aware of our shareholders’ rights and the fact that our main purpose is to create long-term sustainable wealth for all shareholders.

We are also conscious of the fact that four of the five major shareholders are customers. Our directors, while focusing on the New Zealand Refining Company, carry out their legal responsibilities, which includes acting in the interests of all shareholders and where appropriate declaring an ‘interest’. This not only means not voting on an issue, but also refraining from discussing an issue.

In most situations the customers’ goals are closely aligned to those of the New Zealand Refining Company. The separate processing agreements independently negotiated with each customer on an annual basis indicate healthy competition and relationships.