✨ 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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✨ LLM interpretation of page content

🏭 Financial Statements under Telecommunications (Disclosure) Regulations 1990 (continued from previous page)

🏭 Trade, Customs & Industry
Telecommunications, Financial Statements, Shareholders' Equity, Share Premium Reserve, Retained Earnings, Dividends