New Zealand Gazette – 1997 – No. 100

Page 2364

✨ Financial Statements



2364 NEW ZEALAND GAZETTE No. 100

NOTE 15 : OPERATING LEASES

Analysis of Non-Cancellable
Operating Lease Commitments:
Not Later Than One Year 255
Between One and Two Years 105
Between Two and Five Years 50
Later Than Five Years -
410

NOTE 16 : CAPITAL COMMITMENTS

Estimated Capital Expenditure
Contracted for at Balance Date but
not provided for : 1,490

NOTE 17 : CONTINGENT LIABILITIES

The following contingent liabilities have not been provided for in the financial statements:

(i) LETTER OF CREDIT

In order to satisfy the prudential security
requirements of the Electricity Market Company
Limited, Westpac Bank has issued a letter of
credit on behalf of the company.

(ii) REDEMPTION OF CONVERTIBLE NOTES

The convertible notes issued can be redeemed at
a premium for cash under certain circumstances.
Maximum contingent liability : 8,040

(iii) PENDING LITIGATION

A defended case has been taken to Employment
Court. The amount claimed is:

LINE BUSINESS ENERGY BUSINESS GENERATION BUSINESS
$'000 $'000 $'000
255 47 1
105 19 1
50 10 -

410 76 2

LINE BUSINESS ENERGY BUSINESS GENERATION BUSINESS
$'000 $'000 $'000
1,490 - 315

LINE BUSINESS ENERGY BUSINESS GENERATION BUSINESS
$'000 $'000 $'000

  •            12,000             -

8,040 165 6,199

  •            90                 -


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✨ LLM interpretation of page content

🏭 TrustPower Limited Financial Position Statements (continued from previous page)

🏭 Trade, Customs & Industry
1 August 1997
Financial Statements, Operating Leases, Capital Commitments, Contingent Liabilities, Letters of Credit, Convertible Notes, Litigation