✨ Financial Statements Notes
29 MAY NEW ZEALAND GAZETTE 1241
TRANSALTA NEW ZEALAND LIMITED
Notes to and forming part of the Financial Statements (Continued)
For the Year Ended 31 March 1999
Note: 13 Disposal of Network Assets
| Distribution |
|---|
| 31-Mar-99 |
| $000 |
- Net assets sold
- Network assets 54,518
- Other fixed assets 257
- Current assets 326
- Current Liabilities (111)
- Gain on sale of network 56,330
- Add back Sale costs 680
- Cash received for assets 112,000
The gain on sale of network has not been included in the Statement of Financial Performance, as it does not relate to the on-going nature of the distribution business.
Note: 14 Related Party Transactions
The Company had the following transactions with related parties during the period:
| Distribution 31-Mar-99 | Distribution 31-Mar-98 | Retail 31-Mar-99 | Retail 31-Mar-98 | |
|---|---|---|---|---|
| $000 | $000 | $000 | $000 |
TEC Group
- Purchase of bonds | 28,482 | - | - | - |
- Interest paid and accrued on capital notes | 821 | 821 | - | - |
- Management fees paid | 11 | 37 | 9 | 31 |
No related party debts have been written off or forgiven during the year.
Note: 15 Non-Current Liabilities
Bonds
Subsequent to the sale of the electricity lines business the company redeemed all bonds on issue at 31 December 1998. A premium was also paid to compensate bondholders for the early redemption.
Note: 16 Events After balance Date
There were no significant events after balance date.
The information disclosed in the 1999 Information Disclosure package issued by TransAlta New Zealand Limited has been prepared solely for the purposes of the Gas (Information Disclosure) Regulations 1997.
The information should not be used for any other purpose than that intended under the regulations.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2000, No 57
Gazette.govt.nz —
NZ Gazette 2000, No 57
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Notes to Financial Statements for TransAlta New Zealand Limited
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Statements, Disposal of Assets, Related Party Transactions, Non-Current Liabilities, Bonds, Events After Balance Date, Gas (Information Disclosure) Regulations, TransAlta New Zealand Limited