Latest news with #amalgamation
Yahoo
4 days ago
- Business
- Yahoo
LIQUID META ENTERS INTO LETTER OF INTENT FOR PROPOSED BUSINESS COMBINATION TRANSACTION
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ TORONTO, June 24, 2025 /CNW/ - Liquid Meta Capital Holdings Ltd. ("Liquid Meta" or the "Company") announces that it has entered into a binding letter of intent (the "LOI") with a private entertainment technology company, based in Toronto, Canada ("EnTech Co") to effect an arm's length transaction that will result in a business combination between the parties (the "Proposed Transaction") to ultimately form the business of the resulting issuer (the "Resulting Issuer"). Following the completion of the Proposed Transaction, it is intended that the Resulting Issuer will carry on the business currently carried on by EnTech Co and Liquid Meta shall apply to list the common shares of the Resulting Issuer (the "Resulting Issuer Shares") on a stock exchange in Canada (the "Exchange"). Due to the highly sensitive and confidential nature of the discussions between the parties and the competitive environment in which EnTech Co operates, disclosure of the name of EnTech Co will be made as soon as possible following the execution of the Definitive Agreement (as defined below). Pursuant to the terms of the LOI, it is intended that the Proposed Transaction will be effected by way of a three-cornered amalgamation, share exchange, business combination, plan of arrangement or such other transaction structure as will result in EnTech Co otherwise combining its corporate existence with that of Liquid Meta. The final structure of the Proposed Transaction is subject to receipt by the parties of tax, accounting and securities law advice and will be agreed to pursuant to a definitive agreement in respect of the Proposed Transaction (the "Definitive Agreement"). There are currently an aggregate of 53,837,246 common shares of Liquid Meta (the "Liquid Meta Shares") issued and outstanding, as well as 970,000 stock options (the "Liquid Meta Stock Options") and 437,044 common share purchase warrants (the "Liquid Meta Warrants") of Liquid Meta. Pursuant to the LOI, the holders of the issued and outstanding shares of EnTech Co ("EnTech Co Shares") will receive such number of Liquid Meta Shares for each EnTech Co Share held such that upon completion of the Proposed Transaction, shareholders of EnTech Co will hold approximately 75% of the issued and outstanding Resulting Issuer Shares (the "Exchange Ratio") and the existing shareholders of Liquid Meta shall hold approximately 25% of the issued and outstanding Resulting Issuer Shares, subject to adjustment in certain circumstances. The Liquid Meta Shares, the Liquid Meta Stock Options and the Liquid Meta Warrants will be consolidated prior to the completion of the Proposed Transaction (the "Consolidation") in order to give effect to the Exchange Ratio. Additionally, it is anticipated that all securities convertible, exercisable or exchangeable for EnTech Co Shares will be converted or exchanged (or otherwise become convertible or exercisable in accordance with their terms) into similar securities of the Resulting Issuer on substantially similar terms and conditions based on the Exchange Ratio. In connection with the Proposed Transaction, it is anticipated that all post-Consolidation Liquid Meta Stock Options and Liquid Meta Warrants will remain in effect on substantially the same terms, subject to customary anti-dilution adjustments in accordance with the terms thereof. In connection with the Proposed Transaction, and subject to receipt of applicable approvals, Liquid Meta will effect a name change to such name as may be determined by EnTech Co (the "Name Change"). In connection with the execution of the LOI, the Company has agreed to subscribe for such number of Senior Class A preferred shares of EnTech Co (the "EnTech Co Pref Shares") at a price per EnTech Co Pref Share to be determined, for an aggregate subscription amount of US$2,000,000 (the "LM Pref Subscription"). Liquid Meta will subscribe for the initial closing (the "Tranche 1 Closing") of the EnTech Co Pref Shares in the amount of US$1,000,000 as soon as reasonably practical following the execution of the LOI. Liquid Meta will subscribe for the second tranche of EnTech Co Pref Shares, in the amount of US$1,000,000, concurrently with the execution of the Definitive Agreement. The EnTech Co Pref Shares are redeemable, retractable and are convertible into EnTech Co Shares in certain circumstances. The EnTech Co Pref Shares rank senior to all existing preferred shares of EnTech Co and entitle the holder to dividends at the simple interest rate per year of fifteen percent (15%). EnTech Co will use the proceeds of the LM Pref Subscription to fund working capital and other business development initiatives and to repay existing liabilities. Prior to the completion of the Proposed Transaction, the EnTech Co Pref Shares will be capitalized or consolidated as part of the capital structure assumed by the Resulting Issuer. In connection with the execution of the LOI, certain directors, officers and shareholders of Liquid Meta will deliver irrevocable voting and support agreements stipulating, among other things, that they will vote their Liquid Meta Shares (or otherwise cause their Liquid Meta Shares to be voted) in favour of the Proposed Transaction, the Name Change and such other matters as EnTech Co and Liquid Meta may deem necessary or advisable, except where Liquid Meta terminates the LOI or the Definitive Agreement pursuant to the terms thereof, as the case may be. The obligations of Liquid Meta and EnTech Co pursuant to the LOI will terminate in certain specified circumstances, including in the event that the Definitive Agreement is not entered into on or before the ninetieth (90th) day following the Tranche 1 Closing, or the Proposed Transaction is not completed by December 31, 2025, unless otherwise agreed to by the parties. Upon entering into the Definitive Agreement, Liquid Meta will issue a subsequent news release containing the details of the Definitive Agreement. In addition, it is anticipated that certain finder's fees will be payable by EnTech Co immediately following closing of the Proposed Transaction pursuant to finder's fee arrangements between certain parties and EnTech Co. Pursuant to the LOI, the finder's fees payable by EnTech Co in connection with the Proposed Transaction will be subject to a maximum amount of $100,000.00. Completion of the Proposed Transaction is subject to a number of conditions precedent, including but not limited to, the parties entering into a Definitive Agreement, receipt of all required shareholder, regulatory, and other approvals, and the Consolidation and Name Change having been implemented. There can be no assurance that the Proposed Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the information circular or listing statement to be prepared in connection with the Proposed Transaction, as applicable, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. The Proposed Transaction and listing of the Resulting Issuer will be subject to review by the Exchange and conditional approval has not yet been granted. About Liquid Meta Prior to discontinuing its operations, Liquid Meta was a DeFi and Web3 focused company developing best-in-class technology and operational expertise allowing it to build a scaled business within proof-of-stake based networks. Liquid Meta was focused on liquidity mining operations and planned to build proprietary software and tools to access, automate, and scale operations within the fast-growing DeFi segment of the blockchain industry. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Cautionary Statement Regarding Forward Looking Information This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Liquid Meta with respect to future business activities and operating performance. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding: (i) the Company and EnTech Co entering into the Definitive Agreement in connection with the Proposed Transaction and the timing thereof; (ii) expectations regarding whether the Proposed Transaction will be consummated and the conditions to the consummation of the Proposed Transaction will be satisfied including, but not limited to, the necessary shareholder and regulatory approvals and the timing associated with obtaining such approvals, if at all; (iii) expectations regarding the LM Pref Subscription and the terms and timing thereof; (iv) completion of the Name Change; (v) completion of the Consolidation; (vi) the business plans and expectations of the Resulting Issuer; (vii) expectations related to the payment of finder's fees in connection with the completion of the Proposed Transaction; (viii) expectations related to the listing of the Resulting Issuer Shares on the Exchange; and (ix) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of Liquid Meta, EnTech Co or the Resulting Issuer, as applicable, to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to Liquid Meta, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects Liquid Meta's current beliefs and is based on information currently available to Liquid Meta and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: entering into of the Definitive Agreement in connection with the Proposed Transaction; completion of the Proposed Transaction as contemplated or at all; completion of the LM Pref Subscription; completion of the Name Change; completion of the Consolidation; satisfying the conditions precedent and covenants in connection with the Proposed Transaction; the ability to obtain requisite regulatory and shareholder approvals of the Proposed Transaction; satisfying the requirements of the Exchange with respect to the Proposed Transaction; meeting the minimum listing requirements of the Exchange; and anticipated and unanticipated costs and other factors referenced in this news release. Although Liquid Meta has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this news release and, other than as required by law, Liquid Meta disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. SOURCE Liquid Meta Capital Holdings Ltd. 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CTV News
5 days ago
- General
- CTV News
‘A bit of a slog': New public school in Saskatoon's core is years behind schedule
WATCH: A new building intended to amalgamate three westside elementary schools in Saskatoon is years behind schedule, the school board says.
Yahoo
5 days ago
- Business
- Yahoo
Bitcoin Treasury Corporation Announces Closing of Amalgamation and Concurrent Financing
TORONTO, June 23, 2025 (GLOBE NEWSWIRE) -- Bitcoin Treasury Corporation ('Bitcoin Treasury' or the 'Corporation'), further to its press releases dated May 22, 2025, May 30, 2025, and June 17, 2025, is pleased to announce that it has completed the previously announced amalgamation, pursuant to which 2680083 Alberta Ltd. ('268') and Bitcoin Treasury Corporation (pre-amalgamated entity) ('BTCT') have amalgamated and will continue as one corporation, that will carry on the business of BTCT (the 'Transaction'). The Corporation is also pleased to announce that a listing application in respect of the Corporation has been submitted to the TSX Venture Exchange (the 'TSXV') to list the common shares of the Corporation (the 'Bitcoin Treasury Shares'). Listing of the Bitcoin Treasury Shares is subject to the TSXV providing final approval thereof (the 'Listing'). Concurrent Financing The Corporation is also pleased to announce that, further to its press release dated May 30, 2025 and prior to the close of the Transaction, BTCT closed a concurrent brokered private placement of 8,407,350 equity subscription receipts and 25,000 convertible debenture subscription receipts (the 'Convertible Debenture Subscription Receipts') at a price of $1,000 per Convertible Debenture Subscription Receipt and a non-brokered private placement of 1,166,000 equity subscription receipts (the 'Equity Subscription Receipts') at a price of $10.00 per Equity Subscription Receipt for aggregate gross proceeds of $120,733,500 (collectively, the 'Concurrent Financing'). Canaccord Genuity and Stifel acted as co-lead agents, together with National Bank Financial Markets, BMO Capital Markets, CIBC Capital Markets, Wellington-Altus, Greenhill, a Mizuho affiliate, Research Capital, Haywood Securities, ATB Capital Markets, Independent Trading Group, Richardson Wealth and Ventum Capital Markets (collectively, the 'Agents') in connection with the Concurrent Financing. Prior to the close of the Transaction, each Equity Subscription Receipt was converted into one common share of BTCT ('BTCT Share') and each Convertible Debenture Subscription Receipt was converted into one convertible debenture of BTCT ('BTCT Convertible Debenture') on a one for one basis. In connection with the closing of the Concurrent Financing and as consideration for their services, BTCT paid to the Agents cash fees of $5,979,000. Share Consolidation Immediately prior to the completion of the Transaction, 268 completed a consolidation of the common shares of 268 ('268 Shares') based on a ratio of one (1) post-consolidation common share for each 51.66712593 pre-consolidation common shares, resulting in an aggregate of 74,999 268 Shares. The Transaction Pursuant to the amended and restated amalgamation agreement between 268 and BTCT dated June 16, 2025, among other things, (i) 268 and BTCT have amalgamated pursuant to the provisions of the Business Corporations Act (Alberta); (ii) each holder of BTCT Shares received one Bitcoin Treasury Share in exchange for each BTCT Share held by such holder and the BTCT Shares were cancelled by the Corporation; (iii) each holder of BTCT Convertible Debentures or warrants of BTCT (the 'BTCT Convertible Securities') received one convertible debenture in the Corporation or one warrant of the Corporation, as the case may be, in exchange for each BTCT Convertible Security held by such holder and the BTCT Convertible Securities were cancelled by the Corporation; (iv) each holder of 268 Shares received one Bitcoin Treasury Share in exchange for each 268 Share held by such holder and the 268 Shares were cancelled by the Corporation; and (v) the Corporation adopted the equity incentive plan of BTCT. Bitcoin Treasury Share Offering Upon final approval from the TSXV of the Listing and the TSXV's issuance of a 'list and halt' bulletin, the Corporation intends to complete a brokered offering of up to 426,650 Bitcoin Treasury Shares at a price of $10.00 per Bitcoin Treasury Share (the 'Offered Shares'). This, combined with the Concurrent Financing, will provide aggregate gross proceeds of $125,000,000. The Offered Shares will be issued after the Bitcoin Treasury Shares commence trading on the TSXV, and such Bitcoin Treasury Shares shall immediately be halted. Such Offered Shares will be eligible for investment in RRSPs, RESPs, RRIFs, RDSPs, TFSAs, FHSAs and DPSPs, but will be subject to a statutory hold period of four months plus one day from the date the Offered Shares are issued, in accordance with applicable Canadian securities laws. The offering of the Offered Shares is expected to close on or about the week of June 23, 2025. In connection with the closing of the Offered Shares and as consideration for their services, BTCT anticipates a payment to the Agents a cash commission of $178,950. For further information, please contact: Bitcoin Treasury CorporationElliot Johnson, Chief Executive OfficerPhone: 416-619-3403 Email: ejohnson@ Note Regarding Forward-Looking Statements This news release includes certain 'forward-looking statements' under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the Listing of Bitcoin Treasury Shares; the offering of Offered Shares; the anticipated closing date of the Offered Share offering; receipt of a TSXV list and halt bulletin; the anticipated Agents fees relating to the Offered Share offering; expectations related to Bitcoin and its use in the future; and future development plans of the Corporation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: ability to close the Bitcoin Treasury Share Offering on the proposed terms or at all, the synergies expected from the Transaction not being realized; business integration risks; the Corporation's operating results will experience significant fluctuations due to the highly volatile nature of Bitcoin; BTCT operates in a heavily regulated environment and any material changes or actions could lead to negative adverse effects to the business model, operational results, and financial condition of BTCT; evolving cryptocurrency regulatory requirements and the impact on BTCT's business plan; Bitcoin value risk; reliance on key personnel; implementation of the Corporation's business plan; lack of operating history; competitive conditions; de banking and financial services risk; anti money laundering and corrupt business practices; additional capital; financing risks; global financial conditions; insurance and uninsured risks; cybersecurity risks; changes to bank fees or practices, or payment card networks; audit of tax filings; market for the Bitcoin Treasury Shares; market price of the Bitcoin Treasury Shares; conflicts of interest; internal controls; tariffs and the imposition of other restrictions on trade could adversely affect the Corporation's business; risk of litigation; pandemics or other health crisis; acquisitions and integration; risk of dilution of Bitcoin Treasury securities; dividend policy; Bitcoin price volatility; custodial risks; technological vulnerabilities; Bitcoin transactions are irreversible and may result in significant losses; short history risk; limited history of the Bitcoin market; potential decrease in the global demand for Bitcoin; economic and political factors; top Bitcoin holders control a significant percentage of the outstanding Bitcoin; availability of exchange traded products liquidity; security breaches; the amalgamation agreement may be terminated by 268 or BTCT in certain circumstances; there can be no certainty that all conditions precedent to the Transaction will be satisfied; BTCT and 268 may incur costs even if the Transaction is not completed; the requirements that accompany being a publicly traded company may put a strain on the Corporation's resources, divert attention from management, and adversely affect its ability to maintain and attract management and qualified board members; uncertainty of use of proceeds; liquidity risk; leverage risk; and share price fluctuations. Although management of BTCT believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date of this news release, and BTCT does not undertake any obligation to update publicly or to revise any of the included forward -looking statements or information, whether as a result of new information, change in management's estimates or opinions, future circumstances or events or otherwise, except as expressly required by applicable securities law. Completion of the Listing is subject to a number of conditions, including but not limited to, TSXV acceptance. Investors are cautioned that, except as disclosed in the filing statement filed on June 17, 2025, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. 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RNZ News
01-06-2025
- Business
- RNZ News
Porirua residents to decide on super-council, Pacific leaders urge protection of local representation
As Wellington considers regional amalgamation, Pacific leaders caution against losing local voice in a larger system. Photo: Wellington City Council Porirua voters can express their opinion on the potential creation of a Wellington-wide super-council. But Pacific leaders have voiced concerns that the model could dilute local representation unless equity and cultural voices are prioritised. In this year's local elections, Porirua residents will be able to participate in a non-binding referendum that asks whether the city should investigate amalgamating with Wellington, the Hutt Valley, and the Wellington Regional Council into a single entity, while retaining local decision-making. Porirua Mayor Anita Baker says the timing is right for this issue to be brought to voters, adding that the last formal proposal for amalgamation was in 2013 and that the local government landscape has changed significantly since then. Pacific leaders are worried that the move could weaken representation, especially if equity is not prioritised and voter turnout remains low. Councillor Izzy Ford, one of only three Pacific representatives on the Porirua Council, supports the initiative but emphasises the need to respond to community feedback to maintain trust, even though the referendum is non-binding. According to the council's official report, voter turnout in areas of Wellington City, including Mount Cook East, dropped below 30 percent in 2022. In Porirua, turnout was slightly higher at 37 percent. Ford hopes the referendum will provide clear guidance, but she stresses the importance of the council committing to listening to the community. Representation remains a major concern for Ford. She questioned how the council would ensure that all voices in Porirua, particularly those from underrepresented communities, are heard in this process. Ford hopes the referendum will lead to a definitive direction from the people of Porirua. "If they give us a total yes and we don't act on it, then that's going to build more mistrust," she says. "There's always that concern, because our people don't always turn out to vote. "That's a glaring concern, is the underrepresentation of Pasifika around the table." Engagement with Pasifika communities is important, according to Ford. "Having things translated into Pasifika languages, so that it's a bit easier for people to digest, and going into spaces like the churches, where a lot of our Pacific people are, and then it's non-threatening sort of spaces as well, and using our common faces in those common spaces, so that people can see them as non-threatening." Gabriel Tupou, Councillor for Hutt City, is concerned that the amalgamation could reduce Pacific representation. As the only Pasifika councillor in the Hutt Valley, Tupou says the issue must be openly discussed with communities. "In a super-city model, we risk less representation. Currently, we have 12 city councillors and the mayor. That will be greatly reduced. "With the large Pasifika demographic we have, they must have input, just like every other community." Tupou also raised concerns about the referendum regarding Māori ward running alongside the amalgamation question. Tupou highlighted that Hutt City Mayor Campbell Barry plans to present a similar referendum proposal next month. "I think it's important to keep the Māori ward question clean and on its own." Tupou says that from a Pasifika perspective, the challenges of running for election are already significant, as candidates need to have broad appeal. He is also cautious about the financial implications. "We're looking at possibly a cost of hundreds of millions of dollars to carry out the amalgamation. "South Auckland enjoys a larger Pasifika community, and they're able to mobilise their voice and voting power to elect Pasifika councillors," Tupou says. "But we don't have those same concentrations here." Porirua councillors, led by Mayor Anita Baker, back a non-binding referendum asking residents whether to explore forming a super-council. Photo: Porirua City Council / supplied Auimatagai Ken Ah Kuoi, community leader and Kilbirnie-based lawyer, warns that centralising governance could reduce the influence of smaller communities like Porirua, which has a large Pacific population. He says regional solutions may overlook local contexts, adding that a unified council model could offer benefits, but emphasises the need for safeguards. "There's a risk Pacific voices could be diluted in a larger, more bureaucratic system," he says. "What works for Wellington might not suit Porirua or Wainuiomata. Pacific communities often have specific cultural needs that may get overlooked. "A unified council model could benefit Pacific people by improving access to resources and regional influence. But it also carries risks - disconnection, loss of local control, and inequity if not managed carefully. "To ensure Pacific communities benefit, any move toward amalgamation would need guaranteed local representation, strong community consultation, cultural competency across the new structure, and equity-focused service delivery." Petone Community Board member Semi Kuresa says fair representation must be a non-negotiable starting point. Kuresa says while Pasifika make up more than nine percent of Wellington's population, their enrolment and eligibility rates are much lower. He highlighted three key concerns: representation, cost, and the geographic boundaries of a new council. "While amalgamation might seem practical to some, it raises serious questions about representation, particularly for Pacific communities," he says. "The contribution of our Pacific community isn't something that should be reduced to slogans or soundbites. A strong Pacific voice at the table matters. "As someone intending to stand for Hutt City Council, I'm focused on ensuring communities too often overlooked are part of every stage of decision-making. We can't afford to dilute the voices we need to hear more of." Voting for the 2025 local elections in Porirua, Wellington, and the Hutt Valley will take place from 9 September to 11 October. Each council will have its own ballot papers. Porirua will include a non-binding referendum on amalgamation and a binding vote on whether to retain the city's Māori ward. Hutt City is expected to consider a similar referendum proposal in the coming weeks. LDR is local body journalism co-funded by RNZ and NZ On Air.
RNZ News
30-05-2025
- Business
- RNZ News
Hutt and Porirua councils put Wellington super city back on the table
The idea of combining the Wellington region's councils into one large entity has been thrown around for over a decade. Photo: 123rf Hutt City Council will consider whether to add a non-binding referendum at this year's election asking for residents' thoughts on amalgamating Wellington's councils. The idea of combining the Wellington region's councils into one large entity has been thrown around for over a decade. In 2015, the Local Government Commission binned such a plan . But Hutt City Council and Porirua City Council have put some consideration into a revival of the idea. Lower Hutt Mayor Campbell Barry said he would bring a decision on whether to add a non-binding referendum question to this year's local election ballot at a council meeting next month. It would read: "Should Hutt City Council work with councils in Wellington, Upper Hutt, Porirua and the Wellington Regional Council to explore the possibility of creating one single council, that combines relevant services and functions regionally, while keeping appropriate local services and decision making local?" It came after Porirua City Council agreed to ask the same question as part in its election ballot at a meeting yesterday. Porirua Mayor Anita Baker said they decided to do the referendum because they were already having to do a Māori ward referendum at this year's election anyway. A law introduced last year required councils with Māori wards that were established without a referendum to hold a binding poll at this year's election. Baker said it would cost $20,000 to do the amalgamation referendum alongside the Māori ward referendum compared to $150,000 for doing it by itself. "We keep on having the same old questions but no one ever asks the people that actually matter and our residents matter." She hoped it would also increase voter turnout in the city. Barry said that it was a "good thing" to ask residents their thoughts on the idea. "If our community comes back and says no we are not interested then I think that can help settle the matter." Barry told RNZ he received questions about the idea particularly from the business community and those that interact with the council regularly. He said that was often due to different rules that were in place in different parts of the region. Voting at this year's local body election will start 9 September and end 11 October.
