46
47
Directors
The directors of the Company are:
· D.L. Spence (Chairman)
· W.D. Crombie
· R.A. Foster
· A.C. King
· D.G. Marsh
· R.B. Wright
· R.J. Lauder (Managing)
Interests in Transactions
Directors have not declared any interests in transactions
with the company during the year.
Use of Company Information
by Directors
No notices have been received from directors of the
company requesting to use company information
received in their capacity as directors which would not
otherwise have been available to them.
Shareholding by Directors
No directors held shares in the Company during the year
ended 30 June 2003.
Remuneration and Other Benefits
Remuneration and other benefits paid or due and
payable to the directors, for services as a director and in
any other capacity, during the year, are as follows.
· D.L. Spence (Chairman) $38,888
· W.D. Crombie
$14,279
· R.A. Foster
$19,444
· A.C. King
$14,279
· D.G. Marsh
$19,444
· R.B. Wright
$19,444
· R.J. Lauder(Managing) $283,724
Indemnity Insurance:
Directors and Officers
The Company has provided directors and officers liability
insurance during the year, to the directors and senior
executives.
Final Dividend
The board of directors have recommended a final
dividend of $509,000 on 9th August 2004.
Employees Remuneration
The number of employees and former employees whose
remuneration and other benefits (including termination
payments) were more that $100,000 during the period
are as follows.
This Year
Prior Year
$100,000-$110,000
2
2
$110,000-$120,000
1
1
$120,000-$130,000
-
1
$130,000-$140,000
1
1
$150,000-$160,000
2
-
$210,000-$220,000
-
1
Donations
The Company made no donations during the year.
Changes in Accounting Policies
The have been no changes to accounting policies used
in the prior year.
Auditor's Remuneration
The Auditor-General is appointed under Section 70 of
the Local Government Act 2002. Audit New Zealand has
been appointed to provide these services.
Audit fees of $30,000 have been paid and accrued.
For and on behalf of the board
Director
9 August 2004
Director
9 August 2004
STATUTORY INFORMATION
