The Ruapehu Skifields Stakeholders Association is conducting a capital raising survey to assess the interest from the mountain community in becoming co-owners of the business that will operate the skifields on Mt Ruapehu.
Introduction
This survey is being conducted by the Ruapehu Skifields Stakeholders Association (NZBN 9429051226701) a friendly society incorporated to preserve and promote alpine sports in the Ruapehu region. The RSSA is in discussions with Ruapehu Alpine Lifts (in Administration), PwC, MBIE, major creditors and other stakeholders to achieve a positive resolution to the voluntary administration that results in the continued and sustainable operation of the skifields. As part of this process, we are seeking non-binding expressions of interest from the community in becoming co-owners of the business that operates the skifields.
Background
In October 2022 Ruapehu Alpine Lifts, which operates the Whakapapa and Tūroa skifields was placed into Voluntary Administration. A grass-roots community group called Save Mt Ruapehu was formed by local residents, life pass holders, mountain club members and other stakeholders to support the skifields. That community effort has recently been formalised as the Ruapehu Skifields Stakeholders Association. Several surveys have already been conducted that focus on the life pass holders, donations and purchases of new ski passes. This new survey addresses the appetite from the wider mountain community to make an investment and become co-owners of the business that operates the skifield.
Proposal
Transparency, accountability and good governance will be key to the future of the skifields on Mt Ruapehu. The community-ownership model that is being proposed has been designed to bring together a wide range of stakeholders with a shared interest in the success of the skifields. It is proposed to conduct an equity crowdfunding capital raise through a licensed equity crowdfunding platform during 2023. The skifield business conducting the capital raise would be:
A not-for-profit company that does not pay a dividend (because all proceeds are re-invested into maintenance and capital improvements for the development of snowsports on Mt Ruapehu).
Widely-held with no single major shareholder having undue or unchecked influence on the company.
Commercially prudent, fiscally responsible and not primarily debt-funded nor reliant on external commercial investors for expansion.
Transparent and accountable with good governance and strong connections to local stakeholders.
Operating both Tūroa and Whakapapa skifields.
This amount is a non-binding indication of interest. Any investment would be subject to a product disclosure statement or an information memorandum. With that in mind, how much would be interested in investing?
Disclaimer
Shares: Shares are not currently available and if shares were available they would be subject to a product disclosure statement or information memorandum as required by law.
Privacy: Your email address will not be shared with anyone without your consent. We may contact you in future about the community effort to support the skifields on Mt Ruapehu.
Affiliation: The Ruapehu Skifields Stakeholders Association are not affiliated in any way with Ruapehu Alpine Lifts or PwC.
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