New Zealand Gazette – 1999 – No. 180

Page 4279

✨ Financial Statements

26 NOVEMBER NEW ZEALAND GAZETTE 4279

NOTE 5. LONG-TERM DEBT

	1999	1998
	$'000	$'000

Term Liabilities - Repayable 1-2 years | 12,350 | - |

Repayable 2-5 years | 0 | - |
Repayable later than 5 years | 402 | 4,265 |
| 12,752 | 4,265 |

The interest rates payable on these loans are:

Floating Rate - based on 90 day bill rate
Fixed Rates 9.5% - 10.5%

Loans are secured as follows:

Loan:
Promissory Notes $12,500,000 * (1998:$17,000,000)
Various (No Security)

Secured by a charge over all assets except for Haast

Interest rates on the Promissory Notes have been hedged using interest rate swaps for varying terms at rates between 7.99% and 8.6% (includes margins)

NOTE 6. EQUITY

Share Capital (issued & fully paid)

25,000,000 ordinary shares | 25,000 | 17,431 |
300,000 7.25% Redeemable Preference Shares | 300 | 209 |

Capital Reserve | 102 | 22 |
Transition Reserve | 418 | 293 |
Asset Revaluation Reserve | 21,725 | 6,425 |
Asset Maintenance Reserve | 0 | 65 |
Retained Earnings | -7,997 | 6,967 |
| 39,548 | 31,412 |

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VUW Te Waharoa — NZ Gazette 1999, No 180

NZLII — NZ Gazette 1999, No 180

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

🏭 Westpower Limited Financial Statements Notes (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsLong-term Debt, Equity, Financial Statements, Westpower Limited, Liabilities, Share Capital, Reserves

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