Financial Statements Notes




4560 NEW ZEALAND GAZETTE No. 193

TRANSPOWER NEW ZEALAND LIMITED GROUP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 1998

22. SUBSIDIARY AND ASSOCIATE COMPANIES

As at balance date the subsidiary and associate companies are as follows:

Subsidiaries

Subsidiaries Holding
Fighting Bay Finance Limited 100%
Haywards Limited 100%
Oteranga Bay Limited 100%
Hororata Enterprises Limited 100%
Whakamaru Holdings Limited 100%
Transpower Finance Limited 100%
Transpower Land Holdings Limited (non-trading) 100%
Omaka Training Limited (non-trading) 100%
d-Cypha Limited 100%

Associate Company

Associate Company Holding
Electricity Market Company and subsidiaries 33%

All subsidiaries are direct subsidiaries of Transpower except for Oteranga Bay Limited and Haywards Limited which are wholly owned by Fighting Bay Finance Limited.

The principal activity of the trading subsidiaries (excluding d-Cypha) is financing. d-Cypha was established as a separate legal entity to provide reconciliation services for both MARIA and NZEM parties.

The principal activity for the associate company is the provision of services to the participants in the wholesale electricity market. The balance date for the associate and subsidiary companies is the same as Transpower’s.



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🏭 Transpower New Zealand Limited Notes to the Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Financial Instruments, Interest Rates, Liabilities, Assets, Debt, Interest Rate Swaps, Subsidiary Companies, Associate Companies