✨ Financial Statements
NEW ZEALAND GAZETTE
No. 5
TRANSALTA NEW ZEALAND LIMITED
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS (continued)
AS AT 31 MARCH 1997
| DISTRIBUTION | RETAIL | |
|---|---|---|
| 31-Mar-97 | 31-Mar-97 | |
| $000 | $000 |
3. SHARE CAPITAL
Share Capital of 221,687,419 Fully Paid Ordinary Shares
| DISTRIBUTION | RETAIL | |
|---|---|---|
| 16,554 | 43 |
Capital Notes | | 13,267 | 34 |
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 six month period to 31 March 1997.
| DISTRIBUTION | RETAIL | |
|---|---|---|
| 31-Mar-97 | 31-Mar-97 | |
| $000 | $000 |
5. CURRENT LIABILITIES
TRADE CREDITORS
Total Trade Creditors
| | 691 | 1,027 |
OTHER LIABILITIES
| DISTRIBUTION | RETAIL | |
|---|---|---|
| Bank Overdraft | 346 | 101 |
| Sundry Creditors and Accruals | 733 | 119 |
| Provision for Employee Entitlements | 221 | 45 |
| Current Portion of Accrued Interest on Bonds | 1,140 | 2 |
| Current Portion of Accrued Interest on Capital Notes | 653 | 1 |
| Provisions | - | 1,058 |
Total Other Liabilities
| | 3,093 | 1,326 |
TOTAL CURRENT LIABILITIES
| | 3,784 | 2,353 |
Next Page →
PDF embedding disabled (Crown copyright)
View this page online at:
VUW Te Waharoa —
NZ Gazette 1998, No 5
NZLII —
NZ Gazette 1998, No 5
✨ LLM interpretation of page content
🏭
Notes to Financial Statements for TransAlta New Zealand Limited
(continued from previous page)
🏭 Trade, Customs & Industry19 December 1997
Financial Statements, Share Capital, Capital Notes, Bonds, Current Liabilities, Trade Creditors, Bank Overdraft, Employee Entitlements, Interest on Bonds, Interest on Capital Notes