New Zealand Gazette – 1996 – No. 173

Page 4563

✨ Financial Statements Notes

29 NOVEMBER NEW ZEALAND GAZETTE 4563
TRANS POWER NEW ZEALAND LIMITED GROUP

            NOTES TO THE FINANCIAL STATEMENTS
            FOR THE YEAR ENDED 30 JUNE 1996

LONG TERM DEBT (cont.)

Euro Medium Term Notes
Under the Euro Medium Term Note programme Trans Power Finance Limited may from time to time issue notes guaranteed by Trans Power New Zealand Limited. The aggregate principal amount of the notes outstanding will not at any time exceed US$500,000,000 (NZ$732,172,000) or equivalent in other currencies. The Guarantor (Trans Power New Zealand Limited) and Trans Power Finance Limited have given a negative pledge and guarantee payment of all principal and interest amounts. Euro Medium Term Notes on issue as at 30 June 1996 have a book value of NZ$610,968,000 for the Group of which NZ$26,751,000 is issued by the Parent Company (1995: nil).

CAPITAL

The authorised, issued and paid up share capital of the Parent Company consists of 1,200,000,000 (1995: 1,200,000,000) ordinary shares valued at $1 each.

RESERVES

	30 June 1996	30 June 1995
	$000	$000

Capital redemption reserve
Balance at the beginning of the year | 8 | 8 |
Movements during the year | - | - |
Balance at the end of the year | 8 | 8 |

Asset revaluation reserve
Balance at the beginning of the year | 44,517 | - |
Annual revaluation of assets | 21,282 | 41,459 |
Transfer to retained earnings* | (10,488) | 3,058 |
Balance at the end of the year | 55,311 | 44,517 |

Total Reserves | 55,319 | 44,525 |

The revaluation increment/(decrement) in respect of fixed assets disposed of during the year is transferred from the asset revaluation reserve to retained earnings upon the assets' disposal.

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✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for Trans Power New Zealand Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated5 November 1996
KeywordsFinancial Statements, Long Term Debt, Euro Medium Term Notes, Capital, Reserves, Asset Revaluation

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