New Zealand Gazette – 2006 – No. 149

Page 4315

✨ Financial Statements Notes



NEW ZEALAND GAZETTE, No. 149

24 NOVEMBER 2006

4315

TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS

NOTES TO THE FINANCIAL STATEMENTS continued

FOR THE YEAR ENDED 30 JUNE 2006

12. LONG TERM DEBT continued

Structured Financing Transaction

In 2002, Transpower entered into a transaction which raised gross funds of $732,700,000 of which $532,700,000 was on-lent to financial institutions. The economic substance of the transaction, is that the Lines Business has a net obligation of $200,000,000.

13. CAPITAL

Transpower’s share capital consists of 1,200,000,000 (2005: 1,200,000,000) issued and fully paid ordinary shares which confer on the holders the right to vote at any annual general meeting of Transpower. All ordinary shares rank equally.

14. ACCUMULATED DEFICIT
Balance at the beginning of the year (139,141) (191,973)
Operating surplus after tax 83,879 30,752
Accumulated deficit before dividends paid (55,262) (101,241)
Dividends paid (6,414) (37,927)
Balance at the end of the year (61,676) (139,141)

15. DIVIDENDS TO THE SHAREHOLDER
Final dividend paid 6,414 37,927
Interim dividend paid - -
6,414 37,927


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2006, No 149


Gazette.govt.nz — PDF NZ Gazette 2006, No 149




✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for Transpower New Zealand Limited Lines Business (continued from previous page)

🏭 Trade, Customs & Industry
24 November 2006
Financial Instruments, Accounting Policies, NZ IFRS, Taxation, Transpower, Lines Business, 2006