New Zealand Gazette – 1997 – No. 120

Page 2843

✨ Financial Statements



POWERCO LIMITED

STATEMENT OF MOVEMENTS IN EQUITY

FOR THE YEAR ENDED 31 MARCH 1997

Notes Line $000 31 March 1997 Energy $000 Other $000 Total $000 31 March 1996 Line $000 Energy $000 Other $000 Total $000
EQUITY AT 1 APRIL 1996 88,810 9,509 30,146 128,465 97,446 9,916 40,806
Operating surplus attributable to the shareholders 15,147 1,659 1,157 17,963 8,868 485 1,706
Revaluation of network assets 61,325 — 23,208 84,533 — — —
Deferred taxation in respect of revaluation (11,697) — (4,426) (16,123) — — —
Total recognised revenue and expenses for the year 64,775 1,659 19,939 86,373 8,868 485 1,706
Contributions from shareholders
Partly paid shares received 35 3 18 56 1,064 215 — 1,279
Other adjustment 45 (36) (21) (12) — — — —
80 (33) (3) 44 1,064 215 — 1,279
Distributions to shareholders
Share repurchase (5,711) (626) (437) (6,774) (8,421) (374) (6,205)
Dividends - paid 17 (5,711) (626) (4,080) (179) (3,006) (7,265)
- proposed 17 (6,593) (722) (504) (7,819) (5,993) (550) (3,100)
(12,304) (1,348) (941) (14,593) (18,494) (1,103) (12,311)
Reserves transfers
Transfer to tax provision — — — — (74) (4) (55)

| EQUITY AT 31 MARCH 1997 | | | 141,361 | 9,787 | 49,141 | 200,289 | 88,810 | 9,509 | 30,146 | 128,465 |

The accompanying notes form part of these financial statements.

9 SEPTEMBER

NEW ZEALAND GAZETTE



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🏭 Powerco Limited Statement of Movements in Equity (continued from previous page)

🏭 Trade, Customs & Industry
31 March 1997
Financial Statements, Equity, Operating Surplus, Revaluation, Deferred Taxation, Shareholder Contributions, Share Repurchase, Dividends, Reserves Transfers