✨ Financial Statements
15 SEPTEMBER
NEW ZEALAND GAZETTE
3017
TRANSALTA NEW ZEALAND LIMITED
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS (continued)
AS AT 31 MARCH 1997
| LINE BUSINESS | ENERGY BUSINESS | |||
|---|---|---|---|---|
| 31-Mar-97 | 31-Mar-96 | 31-Mar-97 | 31-Mar-96 | |
| $000 | $000 | $000 | $000 |
3. SHARE CAPITAL
Share Capital of 221,687,419 Fully Paid Ordinary Shares
| Ordinary Shares | 119,901 | 93,403 | 1,812 | 31,597 |
| Capital Notes | 96,091 | 4,803 | 1,452 | 2,197 |
The Capital Notes were issued under a Trust Deed between the Company and The New Zealand Guardian Trust Company Limited as Trustee.
The Capital Notes are unsecured, subordinated, fixed interest securities of the Company issued at a face value of $1.00 (the “Principal Value”). The Notes are subject to early redemption or conversion at the option of the company on 1 October each year prior to 1 October 2001 (the “Maturity Date”). Noteholders may be required to convert their Capital Notes into ordinary shares of the Company on the “Maturity Date” at a value equal to the Principal Value plus accrued and unpaid interest on the Capital Notes. For this purpose, ordinary shares will be valued at 98% of the then market price. Alternatively, the Company may elect to purchase, redeem, or extend the terms of the Capital Notes on the Maturity Date. Noteholders can trade their Capital Notes on the New Zealand Stock Exchange. The interest rate on the Capital Notes is 9.84% pa, payable semi-annually in arrears on 1 April and 1 October each year, beginning 1 April 1997.
4. BONDS
Bonds were issued under a Trust Deed between the Company and The New Zealand Guardian Trust Company Limited as Trustee. The Bonds constitute unsecured, unsubordinated, fixed interest securities of the Company at a face value of $1.00 each. The Bonds were issued on 1 October 1996 in two tranches of $110,843,725 each, maturing on 1 October 2003 and 1 October 2006. The interest rates on the Bonds are 8.81% and 8.86% respectively, payable semi-annually in arrears on 1 April and 1 October each year, beginning 1 April 1997. The Company may, at any time, purchase Bonds for its own account, which may be cancelled or reissued. The Company repurchased and cancelled Bonds with a total face value of $6,474,000 in the period to 31 March 1997.
| LINE BUSINESS | ENERGY BUSINESS | |||
|---|---|---|---|---|
| 31-Mar-97 | 31-Mar-96 | 31-Mar-97 | 31-Mar-96 | |
| $000 | $000 | $000 | $000 |
5. CURRENT LIABILITIES
TRADE CREDITORS
| Total Trade Creditors | 3,876 | 6,011 | 8,716 | 21,566 |
OTHER LIABILITIES
| Bank Overdraft | 1,335 | - | 1,124 | - |
| Sundry Creditors and Accruals | 4,020 | 2,250 | 2,224 | 4,628 |
| Unearned Income - Hire Purchase | - | - | - | 389 |
| Goods and Services Tax | - | 572 | - | 160 |
| Provision for Employee Entitlements| 1,310 | 2,256 | 641 | 1,091 |
| Payable to Related Parties | - | - | 4,833 | - |
| Current Portion of Accrued Interest on Bonds | 8,254 | - | 125 | - |
| Current Portion of Accrued Interest on Capital Notes | 4,728 | - | 71 | - |
| Provision for Restructuring | 4,933 | - | 2,823 | - |
| Total Other Liabilities | 24,580 | 5,078 | 11,841 | 6,268 |
| TOTAL CURRENT LIABILITIES | 28,456 | 11,089| 20,557 | 27,834|
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VUW Te Waharoa —
NZ Gazette 1997, No 128
NZLII —
NZ Gazette 1997, No 128
✨ LLM interpretation of page content
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Financial Statements of TransAlta New Zealand Limited
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🌾 Primary Industries & ResourcesElectricity, Financial Statements, Share Capital, Bonds, Current Liabilities, TransAlta