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New Zealand Gazette – 1996 – No. 111

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✨ Financial Statements

2836 No. 111

NEW ZEALAND GAZETTE

TRUSTPOWER LIMITED AND SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS.

FOR THE 12 MONTHS ENDED 31 MARCH 1996

NOTE 15 : OPERATING LEASES

	LINE BUSINESS $'000	ENERGY BUSINESS $'000	GENERATION BUSINESS $'000
ANALYSIS OF NON-CANCELLABLE OPERATING LEASE COMMITMENTS:
NOT LATER THAN ONE YEAR	207	38	1
BETWEEN ONE AND TWO YEARS	148	28	1
BETWEEN TWO AND FIVE YEARS	-	-	-
LATER THAN FIVE YEARS	-	-	-
	355	66	2

NOTE 16 : CAPITAL COMMITMENTS

	LINE BUSINESS $'000	ENERGY BUSINESS $'000	GENERATION BUSINESS $'000
ESTIMATED CAPITAL EXPENDITURE CONTRACTED FOR AT BALANCE DATE BUT NOT PROVIDED FOR :	2,477	-	-

NOTE 17 : CONTINGENT LIABILITIES

THE FOLLOWING CONTINGENT LIABILITIES HAVE NOT BEEN PROVIDED FOR IN THE FINANCIAL STATEMENTS:

	LINE BUSINESS $'000	ENERGY BUSINESS $'000	GENERATION BUSINESS $'000
(i) REDEMPTION OF CONVERTIBLE NOTES
THE CONVERTIBLE NOTES ISSUED TO THE ROTORUA ENERGY CHARITABLE TRUST CAN BE REDEEMED AT A PREMIUM FOR CASH UNDER CERTAIN CIRCUMSTANCES. MAXIMUM CONTINGENT LIABILITY :	8,040	165	6,199

(ii) DECLARATORY JUDGEMENT

AN APPLICATION HAS BEEN MADE TO THE HIGH COURT FOR A DECLARATORY JUDGEMENT IN RESPECT OF THE DEED THAT GOVERNS THE OPERATION OF THE KAIMAI HYDROPOWER SCHEME. IT IS NOT BELIEVED THAT THE OUTCOME OF THE CASE WILL RESULT IN ANY MATERIAL CHANGE TO THE RIGHTS AND OBLIGATIONS OF TRUSTPOWER LIMITED UNDER THE DEED.

(iii) WAITANGI TRIBUNAL CLAIM

THE WAIROA RIVER AND CATCHMENT AREA IN WHICH KAIMAI HYDROPOWER OPERATES AND THE RANGITAIKI AND WHEAO RIVERS IN WHICH THE WHEAO SCHEME OPERATES ARE THE SUBJECT OF A CLAIM AGAINST THE CROWN TO BE HEARD BY THE WAITANGI TRIBUNAL. THE LIKELY EFFECT OF THE OUTCOME OF THESE CLAIMS IS NOT ABLE TO BE QUANTIFIED.

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✨ LLM interpretation of page content

💰 Trustpower Limited Financial Statements (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Statements, Operating Leases, Capital Commitments, Contingent Liabilities, Trustpower

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