✨ Financial Statements
20 DECEMBER
NEW ZEALAND GAZETTE
3995
TELECOM AUCKLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
10 SHAREHOLDERS' EQUITY
SHARE PREMIUM RESERVE
| 30 September | 31 March | ||
|---|---|---|---|
| 1991 | 1990 | 1991 | |
| $000's | $000's | $000's | |
| Balance at beginning and end of period | 464,614 | 464,614 | 464,614 |
(Consisting of a premium of $9,999 on 46,466 redeemable preference shares)
Dividends declared apply to redeemable preference shares as if they were ordinary shares. On winding up of the company preference shareholders rank in priority to ordinary shareholders in respect of outstanding dividends and the issue price of the redeemable preference shares. The redeemable preference shares are subject to redemption, at the issue price five days after written notice from the holder.
RETAINED EARNINGS
| 30 September | 31 March | ||
|---|---|---|---|
| 1991 | 1990 | 1991 | |
| $000's | $000's | $000's | |
| Balance at beginning of period | 31,748 | 3,144 | 3,144 |
| Net earnings | 14,034 | 22,067 | 45,627 |
| 45,782 | 25,211 | 48,771 | |
| Dividends | (22,437) | (6,263) | (17,023) |
| Balance at end of period | 23,345 | 18,948 | 31,748 |
DIVIDENDS
Interim and final dividends declared from the retained earnings of the Company are as follows:
| Six months ended | Year ended | ||
|---|---|---|---|
| 30 September | 31 March | ||
| 1991 | 1990 | 1991 | |
| $000's | $000's | $000's | |
| Interim dividends | 22,437 | 6,263 | 17,023 |
| Final dividend | - | - | - |
| 22,437 | 6,263 | 17,023 |
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VUW Te Waharoa —
NZ Gazette 1991, No 194
NZLII — 🌐 NZ Gazette 1991, No 194
✨ LLM interpretation of page content
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Financial Statements under Telecommunications (Disclosure) Regulations 1990
(continued from previous page)
🏭 Trade, Customs & IndustryTelecommunications, Financial Statements, Shareholders' Equity, Share Premium Reserve, Retained Earnings, Dividends