On 1 March 2016 Covenant Trustee Services Ltd ("Covenant") and Corporate Trust Ltd (trading as Foundation Corporate Trust) amalgamated in accordance with section 222 of the Companies Act 1993. Covenant Trustee Services Ltd has continued as the amalgamated company under the same name. A copy of the amalgamation certificate is attached.
The amalgamation was proposed as both companies have similar client portfolios and skills, but business will continue as usual.
We believe the amalgamation is positive for the sector and enhances our ability to contribute to improved sector effectiveness, especially as we work with other leading sector stakeholders among the banks, valuers, auditors, and insurers.
Our certificate of amalgamation can be viewed here or see our website at http://www.covenant.co.nz.