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New Zealand Gazette – 1992 – No. 97

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✨ Financial Statements

2250
NEW ZEALAND GAZETTE
No. 97

TELECOM WELLINGTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

(CONTINUED)

12 SHAREHOLDERS' EQUITY

SHARE PREMIUM RESERVE

	1992	1991
	$000's	$000's
Balance at beginning of year (consisting of a premium of $9,999 on 21,634 redeemable preference shares)	216,318	216,318
Movements during year -Premium of $9,999 on 4,480 redeemable preference shares	(44,795)	-
	171,523	216,318

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.

CAPITAL REDEMPTION RESERVE

	1992	1991
	$000's	$000's
Balance at beginning of year	-	-
Movements during year -Transfer from retained earnings	4	-
	4	-

RETAINED EARNINGS

	1992	1991
	$000's	$000's
Balance at beginning of year	46,234	19,155
Net earnings	30,392	40,671
	76,626	59,826
Transfer to capital redemption reserve	(4)	-
Dividends	(23,168)	(13,592)
Balance at end of year	53,454	46,234

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VUW Te Waharoa — NZ Gazette 1992, No 97

NZLII — NZ Gazette 1992, No 97

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✨ LLM interpretation of page content

🏭 Telecom Wellington Limited Notes to Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsShareholders' Equity, Share Premium Reserve, Capital Redemption Reserve, Retained Earnings, Dividends, Financial Statements

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