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notes to the financial Statements
for the year ended 31 March 2012
Waitomo Energy Services Customer Trust
Interest and dividend payments are made to the Group’s controlling entity, Waitomo Energy Services Customer
Trust, (these have not and cannot be eliminated from the Group’s accounts).
Group
Parent
2012
2011
2012
2011
$’000
$’000
$’000
$’000
Interest paid
74
74
74
74
Dividends paid
3,204
2,925
3,204
2,925
King Country Electric Power Trust
The following transactions occurred during the year.
Group
Parent
2012
2011
2012
2011
$’000
$’000
$’000
$’000
Dividends paid
356
325
356
325
Remuneration of key management personnel
Group
Parent
2012
2011
2012
2011
$’000
$’000
$’000
$’000
Short-term employee benefits
1,453
1,169
1,171
976
Post-employment benefits
12
12
12
-
Directors’ Fees & Expenses
229
212
229
212
1,694
1,393
1,412
1,188
The remuneration of individual directors and key management personnel is determined by the Board and
Remuneration Committee having regard to the performance of the individuals and market trends. The total
remuneration of directors is determined by the shareholders.
35. Acquisition of subsidiaries
Subsidiaries acquired in 2012
During 2012 no subsidiaries were acquired.
36. Breach of Price Path Threshold
The Lines Company received clearance of its 2010 breach of the price path threshold for the Commerce
Commission on 4th April 2011.
No subsequent price path threshold breaches have occurred.
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