New Zealand Gazette – 1996 – No. 99

Page 2583

✨ Financial Statements



2 SEPTEMBER NEW ZEALAND GAZETTE 2583

Power New Zealand Limited

DEFERRED TAXATION RECONCILIATION

1996 Network ($000) 1995 Network ($000) 1996 Energy ($000) 1995 Energy ($000)
Opening Balance 1 April 1995 441 - - -
Transferred in upon Vesting - 1,586 - -
Current Year Tax Charge 1,826 (1,145) - -
Movement
Closing Balance 2,267 441 - -

IMPUTATION CREDIT ACCOUNT

1996 Network ($000) 1995 Network ($000) 1996 Energy ($000) 1995 Energy ($000)
Opening Balance 1 April 4,902 - 1,730 -
Taxation Paid 21,617 7,935 6,447 2,800
Imputation Credits Attached to Dividends (11,033) (3,033) (3,291) (1,070)
Imputation Credits available to shareholders 15,486 4,902 4,886 1,730

5 DIVIDEND

1996 Network ($000) 1995 Network ($000) 1996 Energy ($000) 1995 Energy ($000)
Dividend Paid 10,290 6,143 3,071 2,780
Dividend Proposed 15,849 11,212 4,729 3,343
26,139 17,355 7,800 6,123

6 ISSUED AND PAID UP CAPITAL

Authorised Capital: 1 Redeemable

Preference share of $1.00 plus 399,999,998 Ordinary Shares of $0.50 each

1996 ($000) 1995 ($000)
Issued and paid Up Capital 75,735 75,735
151,470,220 Issued Shares Fully Paid - -

Movement in Share Capital

1 Redeemable Preference Share issued @ $1.00

1996 ($000) 1995 ($000)
135,000,000 50c Par Issued @ $0.50 67,500 67,500
13,500,000 50c Par Issued @ $3.03 6,750 6,750
2,160,300 50c Par Issued @ $2.73 1,305 1,305
359,700 50c Par Issued @ $2.58 180 180
75,735 75,735

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🌾 Notes to Financial Statements of Power New Zealand Limited (continued from previous page)

🌾 Primary Industries & Resources
Financial Statements, Accounting Policies, Electricity, Disclosure Regulations