Queenstown Airport Corporation (QAC) chairman Mark Taylor expressed his "disappointment" to the Queenstown Chamber of Commerce board at a meeting yesterday afternoon, regarding a memorandum sent out to its members on Friday.
Queenstown Lakes Mayor Clive Geddes said he and Mr Taylor spoke yesterday about the memorandum, which raised nine "issues" with regard to QAC's selling 24.99% of new shareholding to Auckland International Airport Ltd (AIAL) for $27.7 million.
Mr Geddes said the memorandum had both "inaccuracies and omissions" and he and Mr Taylor were asking changes be made and members notified.
Mr Taylor was invited to address the board yesterday and said apart from its "numerous inaccuracies", the memorandum only raised negative views on the alliance.
He said the attached resolution asked members to vote on a negative resolution only - which was for the QLDC and QAC to take no further action to increase the shareholding of AIAL; provide a position on the QAC board to AIAL; and to enter into any shareholder agreement with AIAL; as well as for the council to investigate whether there had been a breach of the QAC's responsibilities under the QAC statement of intent.
Mr Taylor responded to all nine issues the chamber had raised in its memorandum, including a suggestion that "informal" or wider formal consultation could have taken place.
Informal consultation would have been "impractical and inappropriate", he said.
"AIAL's status as a public listed company meant there were serious security law issues to be considered.
These included rules about possible insider trading in AIAL shares.
"It is worth noting that AIAL's own shareholders - which include two Auckland regional councils - did not receive prior notification/consultation about the transaction," Mr Taylor said.
The chamber had "misrepresented" AIAL's position and it had never said it was against public consultation, but consultation under the Local Government Act would create "significant risks" concerning the transaction and "under such a scenario AIAL would reserve the right ... to participate".
The "urgent meeting" on July 7 of the council was to brief councillors, who were not asked to "assess, consider, or vote on the transaction".
Last night, chamber chairman Alastair Porter told the ODT the chamber had agreed to circulate the QAC's response and the memorandum.
However, Mr Taylor's information did not change the chamber's view.
The chamber was inviting feedback before noon on Monday, Mr Porter said.
