New Zealand Gazette – 1997 – No. 141

Page 3274

✨ Financial Statements



10. TERM LOANS

As at 31 March 1997 As at 31 March 1996
Network Operations Generation Business Energy Trading and Other
$ $ $

Term Debt Facility | 1,300,000 | 1,000,000 | 500,000 | 7,800,000 | 1,000,000 | |

Maturity date | 30th April 1998

No security has been issued in respect of Marlborough Electric’s term loans.
Interest Rate Linked to the 90 Day Bank Bill Rate (National Bank buy rate).
The effective rate at 31 March 1997 was 7.99% (1996 9.38%)

11. DIVIDEND PAYMENTS

As at 31 March 1996 provision for dividend totalled $1,425,000
When the dividend was paid to the Company’s shareholders in July 1996 cashflow requirements dictated that the payment be sourced as follows:

$
Network Operator 92,978
Generation business unit 801,288
Energy trader 530,734
Total 1,425,000

12. NON CURRENT ASSETS

12.1 Table of Fixed Assets

As at 31 March 1997 As at 31 March 1996
Network Operations Generation Business Energy Trading and Other
$ $ $

Land | | 461,678 | 78,634 | | 477,678 | 67,205 |

Buildings |
less Depreciation | 3,897,199
(846,958) | | | 3,955,163
(675,349) | |
| 3,050,241 | | | 3,279,814 |

Generation Assets
less Depreciation | | 29,116,192
| (8,733,915) | | | 26,093,180
| (8,117,647) |
| | 20,382,277 | | 17,975,533 |

Reticulation System
less Depreciation | 20,518,054
(7,879,946) | | | 19,822,103
(6,859,113) |
| 12,638,108 | | | 12,962,990 |

Plant and Equipment
less Depreciation | 1,235,410
(816,872) | 103,606
| (39,858) | 981,057
| (642,920) | 1,108,988
(804,777) | 78,412
| (18,269) | 943,567
(549,298) |
| 418,538 | 63,748 | 338,137 | 304,211 | 60,143 | 394,269 |

Motor Vehicles
less Depreciation | 359,156
(252,946) | 991,416
| (686,696) | | 372,245
(253,183) | 945,244
(646,747) |
| 106,210 | 304,720 | | 119,062 | 298,497 |

Capital Works in Progress | 225,705 | | 165,366 | 477,544 |

Totals | 16,900,480 | 20,524,659 | 642,857 | 17,309,121 | 18,580,425 | 692,766 |



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✨ LLM interpretation of page content

🏭 Financial Statements of Marlborough Electric Limited (continued from previous page)

🏭 Trade, Customs & Industry
Electricity, Financial Statements, Accounts Receivable, Inventories, Creditors, Accruals, Marlborough Electric Limited

🏭 Term Loans

🏭 Trade, Customs & Industry
Term Debt Facility, Maturity Date, Interest Rate, 90 Day Bank Bill Rate, National Bank

🏭 Dividend Payments

🏭 Trade, Customs & Industry
Dividend Payment, Cashflow Requirements, Shareholders

🏭 Non Current Assets

🏭 Trade, Customs & Industry
Fixed Assets, Land, Buildings, Generation Assets, Reticulation System, Plant and Equipment, Motor Vehicles, Capital Works in Progress