New Zealand Gazette – 1995 – No. 101

Page 3192

✨ Financial Statements



3192 NEW ZEALAND GAZETTE No. 101

A small portion of the Term Liabilities is secured by a Special Rating Security which allows a special rate to be assessed to the rate payers by the South Taranaki District Council, should the Company default on any of the loans.

  1. SHARE CAPITAL

                As at 31/3/95

    Lines       Generation  Energy Trading
    $000        $000        $000

Authorised Capital
35,000,000 ordinary shares of $1 each 15,279 19,715 6

Issued and Paid Up Capital
Ordinary Shares of $1 Each
35,000,000 issued shares 15,279 19,715 6

Total paid up Ordinary Capital $15,279 $19,715 $6

  1. CONTINGENCY LIABILITY

A claim for compensation relating to the construction of the Patea Hydro Station was lodged with the Company in the mid 1980’s. The claim is for a significant amount but at the time of completion of these accounts has not been accepted and will be the subject of negotiation and possible litigation.

No provision has been made for this contingent liability in the accounts for the twelve months ended 31 March 1995.

  1. CAPITAL COMMITMENTS

At 31 March 1995 there was no capital expenditure contracted for which had not been provided for in the accounts for the twelve months ended 31 March 1995.

  1. FINANCIAL INSTRUMENTS

Credit Risk

Financial instruments which potentially subject the Company to credit risk principally consist of bank balances and accounts receivable.

The Company performs credit evaluations on all customers requiring credit and generally does not require collateral.



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✨ LLM interpretation of page content

💰 Notes to the Financial Statements for Egmont Electricity Limited (continued from previous page)

💰 Finance & Revenue
Financial Statements, Term Liabilities, Special Rating Security, Share Capital, Contingency Liability, Capital Commitments, Financial Instruments, Credit Risk, Egmont Electricity Limited