Kia Ora, Greetings

I am pleased to report that despite the prolonged difficult economic environment, Rotorua Trust has continued to maintain a high level of support to the local community, donating more than $3.8 million over the past financial year.

Sadly, almost everyone in our community knows someone who has faced the challenge of living with cancer. A major health risk, it is the country’s leading cause of death and a major cause of hospitalisation. One in three New Zealanders will have some experience of the disease, either personally or through a friend or relative.

This is something Trustees are well aware of and as a consequence, the Trust has this year invested more than $1 million to assist with the establishment of facilities to help those people in the Rotorua community requiring treatment.

The New Cancer Society’s Lions Lodge in Hamilton is a ‘home away from home’ for Rotorua residents undergoing cancer treatment at the Waikato Regional Cancer Centre. Over 360 people from the Rotorua area used the previous lodge facilities over the past five years; 75 people used it just last year.

The new $15.6 million, purpose-built lodge, which opened to guests in February 2011, can accommodate 200 more people each year. It has 55-bedrooms and five family units, as well as IT facilities and activity, therapeutic massage and meeting rooms, a library and lounges. The ‘R.E.C.T. Room’, funded by the Rotorua Trust, is the venue for a wide range of meetings, support groups, information sessions and seminars, as well as ‘Look Good Feel Better’ courses.

The Rotorua Trust Chemotherapy and Medical Day Stay Unit at Rotorua Hospital will accommodate nine chairs and one bed plus three medical day-stay beds. The old unit had five chairs. It is estimated that the number of people using the unit will increase from 2,000 to more than 3,500 by 2021.

Currently under construction, the new unit is due to be opened on 29 July this year as part of the new inpatient building opening ceremony and commissioning. Aside from this major focus on cancer support, the Trust has continued to provide a wide level of support to numerous groups operating in our community. Full details of all of the Trust’s donations for the year are set out in the “Community Support” section of this annual report.

This year has not been an easy one from an economic viewpoint and Trustees along with the directors and management of Perpetual Capital Management Limited have continued to have to make some hard decisions in this challenging economic climate. The Trust triennial election took place in November 2010. I would like to take this opportunity to acknowledge the work and support of retiring trustee, Judy Keaney, over the past 16 years and to welcome Sandra Kai Fong, who is already making a valuable contribution to the Trust. In closing, I would like to sincerely thank my fellow trustees, our management team, and the board and management team of Perpetual Capital Management Limited for their efforts and support over the past year.

Thank you.

Grahame W Hall, QSO, JP Chairman