New Zealand Gazette – 2001 – No. 105

Page 2689

✨ Financial Statements



VECTOR Limited

Electricity Lines Business

Notes to the Financial Statements

For the year ended 31 March 2001

2001 2000
$000 $000

6. IMPUTATION BALANCES

Balance at beginning of year | 768 | 11,618 |
Income tax payments during year | 4,200 | (5,053) |
Imputation credits attaching to dividends paid | (386) | (5,797) |
Balance at end of year | 4,582 | 768 |

At balance date the imputation credits available to the shareholders of the VECTOR group of which the line business is the predominant activity were:

Through direct shareholding in VECTOR Limited of which the line business is the predominant activity | 4,582 | 768 |

7. DEFERRED TAXATION ASSET/(LIABILITIES)

Balance at beginning of year | 8,852 | 16,703 |
Transfer to statement of financial performance | (6,234)| (7,851) |
Balance at end of year | 2,618 | 8,852 |

8. DIVIDENDS

Distributions relating to previous year:
Dividends paid on ordinary shares | 33,282 | 11,771 |

Proposed distributions:
Proposed dividend on ordinary shares | 48,000 | 33,282 |

Total distributions paid or payable in cash | 81,282 | 45,053 |
Less proposed dividend in previous year | 33,282 | |
Total | 48,000 | 45,053 |

The proposed dividends for 2001 will not be fully imputed. The dividend paid in 2001 was not fully imputed. The 2000 proposed dividends carried no imputation credits. Dividends paid in 2000 were fully imputed.

9. SHARE CAPITAL

Ordinary class A shares
Opening | 300,000 | 146,525 |
Capital adjustment* | - | 153,475 |
300,000,000 issued and fully paid shares | 300,000 | 300,000 |

Ordinary class C shares
6 issued and deemed fully paid shares | - | - |
300,000 | 300,000 |

The ordinary class A shares can only be held by the Auckland Energy Consumer Trust and may only be dealt with pursuant to the Trust Deed.
The ordinary class A shares and the ordinary class C shares are voting securities.
The ordinary class A shares have 75% of the voting entitlement and ordinary class C shares have 25% voting entitlement.

*Divestment activities as required by the Electricity Industry Reform Act 1998 were substantially completed by 31 March 2000. With the divestment substantially complete the capital of the line business as at 31 March 2000 is $300,000,000 which is the entire share capital of VECTOR Limited.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2001, No 105


Gazette.govt.nz — PDF NZ Gazette 2001, No 105




✨ LLM interpretation of page content

🏭 Vector Limited Notes to the Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Operating Revenue, Continuing Activities, Discontinued Activities, Income Tax