New Zealand Gazette – 2000 – No. 98

Page 2463

✨ Financial Report

21 AUGUST NEW ZEALAND GAZETTE 2463

At balance date, lease commitments were as follows:

Year	2000 $000's	1999 $000's
2000	-	50
2001	60	50
2002	56	50
2003	56	50
2004 and beyond (1999)	56	498
2005 and beyond (2000)	473

Note: commitments which extend beyond the next four years have been assessed for a maximum period of 10 years.

RELATED PARTIES

Transactions with owners and directors

Christchurch City Holdings Limited (CCHL) is an 87.625% shareholder in the Holding Company. CCHL is 100% owned by the Christchurch City Council (CCC).

Selwyn Council Trading Enterprises Limited (SCTEL) is a 10.725% shareholder in the Holding Company. SCTEL is 100% owned by the Selwyn District Council (SDC).

Banks Peninsula District Council (BPDC) is a 1.650% shareholder in the Holding Company.

The Company has been 100% owned by Orion Group Limited (the Holding Company) since 23 October 1998. Prior to that date its shares were owned in the above proportions by CCHL, SCTEL and BPDC.

The Company undertakes many transactions with the shareholders and their related parties, all of which are carried out on a commercial and arms length basis.

During the year no material transactions, other than the payment of dividends, were entered into with such parties.

During the year no material transactions were entered into with any of the directors, except for the following transactions with a subsidiary of the Carter Group Limited, relating to subdivision power reticulation:

Purchase $32,000
Liability at 31 March 2000 $177,000

These transactions are conducted on an arms length commercial basis.

VUW Te Waharoa — NZ Gazette 2000, No 98

Gazette.govt.nz — NZ Gazette 2000, No 98

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

✨ LLM interpretation of page content

💰 Capital Commitments (continued from previous page)

Domain💰 Finance & Revenue
KeywordsCapital Commitments, Lease Commitments, Financial Year

💰 Related Parties Transactions

Domain💰 Finance & Revenue
KeywordsRelated Parties, Shareholders, Transactions, Dividends

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