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New Zealand Gazette – 1997 – No. 165

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✨ Financial Statements Notes

26 NOVEMBER NEW ZEALAND GAZETTE 3915

TRANSPOWER NEW ZEALAND LIMITED GROUP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 1997

Euro medium term notes

Under the Euro Medium Term Note Programme Transpower Finance Limited may from time to time issue notes guaranteed by Transpower. The aggregate principal amount of the notes outstanding will not at any time exceed US$750,000,000 (NZ$1,106,357,870) as at 30 June 1997, (US$500,000,000 (NZ$732,172,000) as at 30 June 1996) or equivalent in other currencies. The Guarantor (Transpower) and Transpower Finance Limited have given a negative pledge and guarantee payment of all principal and interest amounts.

Crown loan

A NZ$1,588,000,000 Loan Facility Agreement dated 9 June 1994 was entered into between Transpower Finance Limited, as borrower, and Her Majesty the Queen in Right on New Zealand (the Crown), as lender. The loan was repaid on 13 December 1996.

13. CAPITAL

Contributed paid in capital of the Parent Company is $1,200,000,000 (1996: $1,200,000,000).

14. RESERVES

	1997	1996
	$000	$000

Capital redemption reserve

Balance at the beginning of the year | 8 | 8 |
Balance at the end of the year | 8 | 8 |

Asset revaluation reserve

Balance at the beginning of the year | 55,311 | 44,517 |
Annual revaluation/(devaluation) of assets | (12,372) | 21,282 |
Transfer to retained earnings* | 888 | (10,488) |
Balance at the end of the year | 43,827 | 55,311 |

Total Reserves | 43,835 | 55,319 |

The revaluation (increment)/decrement in respect of fixed assets disposed of during the year is transferred from the asset revaluation reserve to retained earnings upon the assets’ disposal.

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VUW Te Waharoa — NZ Gazette 1997, No 165

NZLII — NZ Gazette 1997, No 165

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✨ LLM interpretation of page content

🏭 Notes to the Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsInvestments, Financial Statements, Transpower New Zealand Limited, Current Liabilities, Long Term Debt, Bonds, Euro Medium Term Notes, Crown Loan

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