MCK: Copthorne Hotel & Resort Bay of Islands lease renewal

MILLENNIUM & COPTHORNE HOTELS NEW ZEALAND LIMITED

N Z X A N N O U N C E M E N T 16 April 2021


MCK ISSUES INJUNCTION PROCEEDINGS AGAINST WAITANGI NATIONAL
TRUST BOARD IN RELATION TO THE LEASE OF THE COPTHORNE HOTEL &
RESORT BAY OF ISLANDS

Millennium & Copthorne Hotels New Zealand Limited (NZX:MCK) today filed for an interim
injunction in the High Court at Whangarei seeking orders against its landlord, the Waitangi
National Trust Board, in respect of the renewal of the lease for the land on which the Copthorne
Hotel & Resort Bay of Islands is situated.

“Filing proceedings against the Trust Board is very much a last resort after trying to engage with
them since May 2020 on what should be a simple renewal of our lease, but we felt we had no
other options and thus compelled to take this action”, said MCK Managing Director Mr. BK Chiu.

The Qualmark 4 star-rated hotel, which has also been awarded Gold Certification under
Qualmark’s Sustainable Tourism Business for a second consecutive year, is situated within the
Waitangi National Trust Reserve and adjacent to the Treaty Grounds. MCK, together with its joint
venture partners the Tai Tokerau Maori Trust Board, have managed the hotel for over two
decades.

“We have always respected the unique historical and cultural importance of the site where
Copthorne Hotel & Resort Bay of Islands stands. We have welcomed thousands of visitors from
New Zealand and overseas and shown them the manaakitanga that Northland and Waitangi has
to offer and we look forward to doing so well in the future”, said Mr. Chiu.

MCK said that even though proceedings had been issued, they were still willing to discuss any
outstanding matters with the Trust Board.

“We stand ready to do the mahi necessary to conclude the renewal and we assume that the
Waitangi National Trust Board is open and willing to doing the same”, he said.

-ENDS-

Issued by Millennium & Copthorne Hotels New Zealand Limited