✨ Financial Statements




2584 NEW ZEALAND GAZETTE No. 99

Power New Zealand Limited

1996 Network ($000) 1995 Network ($000) 1996 Energy ($000) 1995 Energy ($000)
7 RESERVES REVALUATION RESERVE
Opening Balance 1 April 370,312 - - -
Transfer upon Vesting - 135,718 - -
Surplus on ODV Valuation 1,266 234,594 - -
Closing Balance 31 March 371,578 370,312 - -

| SHARE PREMIUM RESERVE | | | | |
| Opening Balance 1 April | 40,724 | - | - | - |
| Premium on Issue of Shares | - | 40,724 | - | - |
| Closing Balance 31 March | 40,724 | 40,724 | - | - |

| OTHER RESERVES | | | | |
| Opening Balance 1 April | 66,678 | - | 19,891 | - |
| Transfer upon Vesting | - | 116,567 | - | 35,401 |
| Issue of 135,000,000 Shares at $0.50| - | (49,889) | - | (15,510) |
| Closing Balance 31 March | 66,678 | 66,678 | 19,891 | 19,891 |

| RETAINED EARNINGS | | | | |
| Opening Balance 1 April | 24,014 | (18) | 38,538 | - |
| Transfer upon Vesting | - | 22,443 | - | 35,271 |
| Dividends | (26,139) | (17,355) | (7,800) | (6,123) |
| Transferred from Statement of Financial Performance | 18,131 | 18,944 | 14,961 | 9,390 |
| Closing Balance 31 March | 16,006 | 24,014 | 45,699 | 38,538 |

| 8 ACCOUNTS RECEIVABLE | | | | |
| Accounts Receivable - Trade | 13,584 | 14,195 | 16,651 | 9,856 |
| Other Receivables | 6,656 | 7,296 | 1,649 | 4,343 |
| | 20,240 | 21,491 | 18,300 | 14,199 |

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