✨ Financial Statements
29 JUNE NEW ZEALAND GAZETTE 1747
TELECOM AUCKLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
11 SHAREHOLDERS’ EQUITY
SHARE PREMIUM RESERVE
| 1993 | 1992 | |
|---|---|---|
| $000’s | $000’s |
Balance at beginning of year
(Consisting of a premium of $9,999 on 50,466 redeemable preference shares)
| | 504,610 | 464,614 |
Movements during the year
-Premium of $9,999 on 3,000 redeemable preference shares
| | (29,997) | - |
-Premium of $9,999 on 4,000 redeemable preference shares
| | - | 39,996 |
| | 474,613 | 504,610 |
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
| 1993 | 1992 | |
|---|---|---|
| $000’s | $000’s |
Balance at beginning of year
| | - | - |
Movements during year
-Transfer from retained earnings
| | 3 | - |
| | 3 | - |
RETAINED EARNINGS/(ACCUMULATED DEFICIT)
| 1993 | 1992 | |
|---|---|---|
| $000’s | $000’s |
Balance at beginning of year
| | 40,702 | 31,748 |
Transfer to capital redemption reserve
| | (3) | - |
Dividends
| | (15,020) | (29,188) |
Net earnings/(loss)
| | (62,821) | 38,142 |
| | (37,142) | 40,702 |
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VUW Te Waharoa —
NZ Gazette 1993, No 94
NZLII —
NZ Gazette 1993, No 94
✨ LLM interpretation of page content
🏭
Financial Statements under Telecommunications (Disclosure) Regulations 1990
(continued from previous page)
🏭 Trade, Customs & Industry13 May 1993
Telecommunications, Financial Statements, Shareholders' Equity, Share Premium Reserve, Capital Redemption Reserve, Retained Earnings, Dividends, Redeemable Preference Shares