On 1 June 2010 a panel of independent commissioners, acting on behalf of Environment Canterbury, announced their decision to grant Central Plains Water Limited consent to take water from the Waimakariri and Rakaia rivers to irrigate the Central Canterbury Plains.
This decision was an important milestone for Central Plains Water and followed hearings that took more than 15 months to complete.
All but ten of the over 2000 original submitters have accepted the decision of the commissioners to grant the consents. The other ten have lodged appeals that may need to be resolved via the Environment Court.
On 29 October 2010 Central Plains Water Limited issued its shareholders a one for one offer of new shares in the company.
For more information about this offer, see here for the short form prospectus.
Shareholders and others wishing to trade in the rights offered under this prospectus should visit www.cpwshares.co.nz
Shareholders and other supporters, including local and central government and approved lenders have contributed $10 million to date to progress the scheme to this stage.
The company is now determined to continue its positive momentum towards a sustainable surface water irrigation scheme for Central Canterbury and therefore ensure the resource consents it has gained benefit shareholders, and the wider region, in the future.