New Zealand Gazette – 2005 – No. 132

Page 3219

✨ Financial Commitments and Related Parties

19 AUGUST 2005 NEW ZEALAND GAZETTE, No. 132 3219

Capital commitments of $2.3m are uncertain as to timing (2004 $2.0m). Other capital commitments are expected to be met in the next financial year.

Lease commitments that extend beyond 2010 have been assessed for a maximum period of 10 years.

Related parties

Transactions with owners and directors

The company has been 100% owned by Orion Group Limited (the Holding Company) since 23 October 1998.

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 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.

	2005 $000's	2004 $000's
Transactions during the year
Purchases from CCC	1,937	1,788
Revenues from CCC	1,783	1,906
Purchases from SDC	90	124
Revenues from SDC	481	489
Purchases from BPDC	115	68
Revenues from BPDC	-	5
Dividend payments to CCHL	23,659	58,577
Dividend payments to SCTEL	2,896	7,170
Dividend payments to BPDC	445	1,103

Outstanding balances as at 31 March

	2005 $000's	2004 $000's
Accounts payable to CCC	15	30
Accounts receivable from CCC	1,092	857
Accounts payable to SDC	-	-
Accounts receivable to SDC	491	351
Accounts payable to BPDC	-	-
Accounts receivable from BPDC	-	-

VUW Te Waharoa — NZ Gazette 2005, No 132

Gazette.govt.nz — NZ Gazette 2005, No 132

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

💰 Capital and Lease Commitments (continued from previous page)

Domain💰 Finance & Revenue
KeywordsCapital commitments, Lease commitments, Financial obligations

💰 Related Parties Transactions

Domain💰 Finance & Revenue
KeywordsShareholders, Transactions, Dividends, Commercial basis

💰 Financial Transactions with Related Parties

Domain💰 Finance & Revenue
KeywordsPurchases, Revenues, Dividends, Accounts payable, Accounts receivable

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