We are owned by six district councils in the Waikato
When our company became operational on 1 July 2026, three of our shareholding councils moved from being a stage 1 shareholder to being a stage 2 shareholder. This reflects how we were designed, with councils transitioning to a different class of shareholding when they transfer their water services business to Waikato Waters.
The remaining three councils will transfer their water services over the next year.
You may notice that the shareholding percentages displayed on the Companies Office register between now and 1 July 2027 will appear unusual. This is because Companies Office records the number of shares and does not distinguish between the rights that attach to shares. As a result, the register does not tell the full story about how representation and governance operate within Waikato Waters.
Why this matters?
Waikato Waters is not intended to operate like a traditional commercial company where shareholdings represent financial investment or economic ownership. Instead, the shareholding structure has been designed to balance two objectives:
- recognising the contribution of the founding councils through equal stage 1 shareholdings
- ensuring that community representation broadly reflects the customers and communities receiving services through stage 2 shareholdings.
As we transition from establishment to operation, shareholder influence moves to the stage 2 shareholding structure. This reflects the deliberate policy choice of councils that representation should progressively align with the communities served by us.
What will the shareholding look like once transition of all councils have completed
Once all councils have completed their transition to stage 2 shareholding, the shareholding structure will be as per the below. The number of water connections will be reviewed periodically (every five years) and the shares updated if necessary.
Council | Percentage |
Hauraki | 16 per cent |
Matamata-Piako | 25 per cent |
Ōtorohanga | 4 per cent |
Waipā | 17 per cent |
South Waikato | 33 per cent |
Waitomo | 5 per cent |
What this means in terms of the Companies Office register
The Companies Office register shows how many shares each council holds, but it does not show why those shares were issued or how voting and representation operate under our governance framework. The percentages displayed on the Companies Office register should be viewed as an administrative record of total shares on issue, rather than as a measure of governance influence.