✨ Financial Statements
4986 NEW ZEALAND GAZETTE, No. 189 5 DECEMBER 2008
13. Commitments
The Company has no commitments as at 30 June 2008 (2007: Nil)
14. Contingent Liabilities
There are no contingent liabilities which would have a material adverse effect on these accounts (2007: Nil).
Under the terms of their pipeline access agreement Vector and Maui Development require bank guarantees refer Note 10.
There are no contingent assets other than normal energy trading (2007: nil)
| Distribution | Retail | |||
|---|---|---|---|---|
| 2008 | 2007 | 2008 | 2007 | |
| $ | $ | $ | $ | |
| - | - | 388,203 | 388,203 |
15. Dividend
No Dividends have been declared for 2007/2008 (2007: $676,851)
16. Post Balance Date Events
With effect from 1 July 2008 the two independent trading divisions of Wanganui Gas Limited, GasNet and Energy Direct NZ, were established as separate companies. Both companies are 100% owned by Wanganui Gas Limited. The two new companies, GasNet Limited and Energy Direct NZ Limited have their own Board of Directors and General Managers. The personnel and assets that were employed in the respective trading divisions have been allocated as appropriate to each of the new companies. Wanganui Gas Limited as the Parent entity will focus on strategic issues and planning for the group.
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NZ Gazette 2008, No 189
✨ LLM interpretation of page content
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Notes to the Financial Statements for Wanganui Gas Limited
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Statements, Accounting Policies, Gas Distribution, Retail, Wanganui Gas Limited, Commitments, Contingent Liabilities, Dividend, Post Balance Date Events