✨ Financial Statements
29 JUNE NEW ZEALAND GAZETTE 1783
TELECOM WELLINGTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
13 SHAREHOLDERS' EQUITY (Continued)
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 | 4 | - |
| Movements during the year | ||
| -Transfer from retained earnings | 3 | 4 |
| 7 | 4 |
RETAINED EARNINGS/(ACCUMULATED DEFICIT)
| 1993 | 1992 | |
|---|---|---|
| $000's | $000's | |
| Balance at beginning of year | 53,454 | 46,234 |
| Transfer to capital redemption reserve | (3) | (4) |
| Dividends | (7,050) | (23,168) |
| Net earnings/(loss) | (48,072) | 30,392 |
| (1,671) | 53,454 |
DIVIDENDS
Interim and final dividends declared from the retained earnings of the Company are as follows:
| 1993 | 1992 | |
|---|---|---|
| $000's | $000's | |
| Interim dividends | 7,050 | 23,168 |
| Final dividend | - | - |
| 7,050 | 23,168 |
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VUW Te Waharoa —
NZ Gazette 1993, No 94
NZLII —
NZ Gazette 1993, No 94
✨ LLM interpretation of page content
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Financial Statements under Telecommunications (Disclosure) Regulations 1990
(continued from previous page)
🏭 Trade, Customs & IndustryTelecommunications, Financial Statements, Shareholders' Equity, Dividends, Capital Redemption Reserve, Retained Earnings, Telecom Wellington Limited