Missing Shareholder and Succession Information
A "missing shareholder" is either a shareholder for whom we have lost contact with (no address held) or a shareholder who is deceased view missing shareholders list You will need to complete and return to our office along with the documentation request a "Declaration of Identity" form click here. Either print a Declaration of Identity form or contact our office and we will post the form to you. You will need to complete and return to our office a "MIL Whanau Trust Registration" form click here. The MIL Whanau Trust Registration form must be signed by all the Trustees and returned to our office along with a copy of the Trust Deed or Order. Either print a MIL Whanau Trust Registration form or contact our office and we will post the form to you. To begin succession a copy of the following documents will be required: To further help understand MIL's Succession Process the following material is available to view: What is a Missing Shareholder
What do I do if I have seen my name on the "missing shareholders" list
What do I do if our Whanau Trust is on the "missing shareholders" list
How to do a Succession
Minimum Shareholding
In accordance with MIL's Constitution the minimum number of shares that a shareholder may hold in the Company is ten (10) shares. When a shareholder holds less than the Minimum Holding of shares then they may not transfer any number of their shares less than the full number held. This is to avoid shareholdings becoming uneconomic. Only current shareholders can receive less than ten (10). These are the following options availabe:
- One beneficiary (pending how many shares the current shareholder holds) can receive the shares, or
- The formation of a Whanau Trust for the benefit of all descendants, or
- The sale of the shares - Buyers List available from our office
With any of the options above we will require consent from all the entitled beneficiaries (descendants). Consent forms can be obtained from our office.