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Directors
The directors of the Company are:
· D.L. Spence (Chairman)
· W.D. Crombie
· A.C. King
· H.L. Martyn (appointed 21 March 2005)
· T.F. Thornton (appointed 29 October 2004)
· R.J. Lauder (Managing)
Retired Directors
· R.A. Foster (retired 29 October 2004)
· D.G. Marsh (retired 29 October 2004)
· R.B. Wright (retired 21 March 2005)
Interests in Transactions
During the year $1,030 of work was carried out for Mr W. D.
Crombie. This work was carried out at commercial rates.
Other than this, 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 2005.
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)
$41,667
· W.D. Crombie
$20,833
· R.A. Foster
$ 6,944
· A.C. King
$20,833
· D.G. Marsh
$ 6,944
· H.L. Martyn
$ 6,076
· T.F Thornton
$13,889
· R.B. Wright
$15,624
· R.J. Lauder(Managing)
$299,566
Indemnity Insurance: Directors and Officers
The Company has provided directors' and officers' liability
insurance to the directors and senior executives during the year.
Final Dividend
The board of directors has recommended a final dividend of
$216,000 on 5th August 2005.
Employee Remuneration
The number of employees and former employees whose
remuneration and other benefits (including termination payments)
were more than $100,000 during the period are as follows:
This Year
Prior year
$100,000-$110,000
4
2
$110,000-$120,000
1
1
$120,000-$130,000
1
-
$130,000-$140,000
-
1
$140,000-$150,000
1
-
$150,000-$160,000
1
2
$160,000-$170,000
1
-
Donations
The Company made no donations during the year.
Changes in Accounting Policies
There 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 $38,000 have been paid and accrued.
For and on behalf of the board
STATUTORY INFORMATION
Director
5 August 2005
Director
5 August 2005
