✨ Financial Statements Notes
2268 NEW ZEALAND GAZETTE No. 97
TELECOM SOUTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
9 LONG TERM DEBT (Continued)
Interest rates on the parent company loan ranged from 12.93% to 13.62% for the twelve months ended 31 March 1992. The parent company loan has no fixed date for repayment.
| 1992 | 1991 | |
|---|---|---|
| $000's | $000's |
SCHEDULE OF MATURITIES - Other loans
Due 1 to 2 years | 5,363 | - |
Due 2 to 3 years | 37,536 | - |
Total due after one year | 42,899 | - |
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
Balance at beginning of year
(consisting of a premium of $9,999 on 39,997 redeemable preference shares)
| | 399,930 | 399,930 |
Movements during year
- Premium of $9,999 on 2,000 redeemable preference shares
| | (19,998) | - |
| | 379,932| 399,930|
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
| | 2 | - |
| | 2 | - |
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VUW Te Waharoa —
NZ Gazette 1992, No 97
NZLII —
NZ Gazette 1992, No 97
✨ LLM interpretation of page content
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Telecom South Limited Financial Statements Notes
(continued from previous page)
🏭 Trade, Customs & Industry27 May 1992
Financial Statements, Long Term Debt, Shareholders' Equity, Share Premium Reserve, Capital Redemption Reserve, Interest Rates, Loans, Dividends, Redeemable Preference Shares