✨ Financial Statements
4048 NEW ZEALAND GAZETTE No. 194
TELECOM SOUTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
9 LONG TERM DEBT (Continued)
Interest rates on the parent company loan ranged from 13.21% to 13.62% for the six months ended 30 September 1991 except for a $20 million reduction which, in advance of a capital restructuring, was at nil interest from 1 July 1991. The parent company loan has no fixed date for repayment.
| 30 September | 31 March | ||
|---|---|---|---|
| 1991 | 1990 | 1991 | |
| $000's | $000's | $000's |
SCHEDULE OF MATURITIES - Other Loans
Due 1 to 2 years | 3,799 | - | -
Due 2 to 3 years | 27,799 | - | -
Total due after one year | 31,598 | - | -
Other loans are for the finance lease obligations of telecommunication equipment, with interest and principal paid quarterly at 12.9% p.a.
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 | 399,930 | 399,930 | 399,930 |
(consisting of a premium of $0.999 on 39,997 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.
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VUW Te Waharoa —
NZ Gazette 1991, No 194
NZLII —
NZ Gazette 1991, No 194
✨ LLM interpretation of page content
🏭
Notes to the Financial Statements for Telecom South Limited
(continued from previous page)
🏭 Trade, Customs & Industry20 December 1991
Financial Statements, Long Term Debt, Interest Rates, Loan Repayment, Shareholders' Equity, Share Premium Reserve, Dividends, Redeemable Preference Shares, Telecom South Limited