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New Zealand Gazette – 1993 – No. 94

Page 1765

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✨ Financial Statements

29 JUNE NEW ZEALAND GAZETTE 1765

TELECOM CENTRAL LIMITED AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS

(CONTINUED)

11 SHAREHOLDERS' EQUITY

SHARE PREMIUM RESERVE

	1993	1992
	$000's	$000's
Balance at beginning of year	459,054	419,058
(Consisting of a premium of $9,999 on 45,910 redeemable preference shares)

Movements during the year

Premium of $9,999 on 350 redeemable preference shares (3,500) | -
Premium of $9,999 on 4,000 redeemable preference shares | - | 39,996

| | 455,554 | 459,054 |

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

	1993	1992
	$000's	$000's
Balance at beginning of year	32,874	15,741
Net earnings	39,905	76,178
Dividends	(62,481)	(59,045)

| | 10,298 | 32,874 |

DIVIDENDS

Interim and final dividends declared from the retained earnings of the Company are as follows:

	1993	1992
	$000's	$000's
Interim dividends	30,270	59,045
Final dividend	32,211	-

| | 62,481 | 59,045 |

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VUW Te Waharoa — NZ Gazette 1993, No 94

NZLII — NZ Gazette 1993, No 94

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✨ LLM interpretation of page content

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

Domain🏭 Trade, Customs & Industry
KeywordsTelecommunications, Financial Statements, Shareholders' Equity, Dividends

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