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Retrieving Data

Statutory Information

Interests Register
The Company is required to maintain an Interests Register in which particulars of certain transactions and matters involving the Directors must be recorded.

The matters set out below were recorded in the Interests Register of the Company during the financial year.

General Notice of Interest by Directors
The Directors of the Company have declared interests in the following identified entities as at 31 March 2014.

Director

Interest

Entity

Bruce James Harker

Director

Trustpower Metering Limited

Director

Morrison Capital Limited

Director

Surveylab Group Limited

Director

Z Energy Limited

Richard Hammond Aiken

Executive Chairman

Beca Group Limited

Director

Beca Group Subsidiaries

Director

John Scotts Investment Limited

Director

Auckland Council Property Limited

Marko Bogoievski

Chairman

Aotea Energy Holdings Limited

Director

Aotea Energy Holdings Limited Subsidiaries

Director

Z Energy Limited

Director

Infratil Limited and certain Infratil Limited Subsidiaries

Chief Executive

Infratil Limited

Director

HRL Morrison & Co and certain subsidiaries

Director

Zig Zag Farm Limited

Michael James Cooney

Trustee

Tauranga Energy Consumer Trust

Director

TECT Holdings Limited

Consultant

Cooney Lees & Morgan

Director

Trustpower Australia (New Zealand) Limited

Director

Trustpower Insurance Limited

Director

Tararua Wind Power Limited

Director

Energy Direct NZ Limited

Ian Samuel Knowles

Chairman

OnBrand Limited

Chairman

Unlimited Realities Limited

Chairman

Partners Life Limited

Director

SLI Systems Limited

Director

Angel HQ Inc

Director

Rangitira Limited

Director

Synlait Milk Limited

Trustee

Te Omanga Hospice

Trustee

United World College NZ

Geoffrey Jon Campbell Swier

Director

Farrier Swier Consulting Pty Ltd

Director

Snowtown Wind Farm Pty Ltd

Director

Sellicks Hill Wind Farm Pty Ltd

Director

Trustpower Australia Holdings Pty Ltd

Director

Trustpower Renewable Investments Pty Ltd

Director

Trustpower Market Services Pty Ltd

Director

Snowtown Wind Farm Stage 2 Pty Ltd

Director

Snowtown South Wind Farm Pty Ltd

Director

Dundonnell Wind Farm Pty Ltd

Director

Wingeel Wind Farm Pty Ltd

Director

Church Lane Wind Farm Pty Ltd

Director

Salt Creek Wind Farm Pty Ltd

Information used by Directors
During the financial year there were no notices from Directors of the Company requesting to disclose or use Company information received in their capacity as Directors which would not otherwise have been available to them.

Directors Holding Office and their Remuneration
No Directors were appointed or ceased to hold office during the year to 31 March 2014.

The Directors holding office as at 31 March 2014 and during the year to 31 March 2014 are listed below. The total amount of the remuneration and other benefits received by each Director during the financial year, and responsibility held, is listed next to their names.

Director

Remuneration

Responsibility Held

Bruce James Harker

$165,000

Chairman

Non-executive Director

Member of Audit and Risk Committee

Member of Remuneration Committee

Member of Share Buyback Committee

Michael James Cooney

$80,000

Non-executive Director

Member of Share Buyback Committee

Geoffrey Jon Campbell Swier

$125,000

Independent Director

Chairman of Audit and Risk Committee

Member of Remuneration Committee

Richard Hammond Aitken

$80,000

Independent Director

Ian Samuel Knowles

$90,000

Independent Director

Member of Audit and Risk Committee

Member of Share Buyback Committee

Marko Bogoievski

$80,000

Non-executive Director

Indemnification and Insurance of Directors and Executives
During the financial year the Company paid insurance premiums in respect of Directors’ and certain executive employees’ liability insurance, as permitted by the Company’s Constitution and the Companies Act 1993. The policies do not specify the premium for individuals. This insurance extends to Directors and certain executive employees acting in the capacity of a director or on behalf of a subsidiary or related company.

The Directors’ and executive employees’ liability insurance provides cover against costs and expenses involved in defending legal actions and any resulting payments arising from a liability to persons (other than the Company or a related body corporate) incurred in their capacity as director or executive employee unless the conduct involves a wilful breach of duty or an improper use of inside information or position to gain advantage.

The Company has entered into deeds of indemnity in respect of each Director, the Chief Executive, Chief Financial Officer and Company Secretary, General Manager Strategy and Growth, General Manager Generation, General Manager Commercial Operations, General Manager Trading, and General Manager Business Solutions and Technology whereby each such director and executive employee is indemnified against the types of liability and costs described above, as permitted by the Company’s Constitution and the Companies Act 1993.

Subsidiary Company Directors
Set out below are details of the Directors of Trustpower’s subsidiaries as at 31 March 2014.

Director as at 31 March 2014

Trustpower Group Company

Bruce James Harker

Trustpower Metering Limited

Michael James Cooney

Tararua Wind Power Limited

Trustpower Insurance Limited

Trustpower Australia (New Zealand) Limited

Energy Direct NZ Limited

Geoffrey Jon Campbell Swier

Trustpower Australia Holdings Pty Ltd

Trustpower Renewable Investments Pty Ltd

Snowtown Wind Farm Pty Ltd

Sellicks Hill Wind Farm Pty Ltd

Trustpower Market Services Pty Ltd

Snowtown Wind Farm Stage 2 Pty Ltd

Snowtown South Wind Farm Pty Ltd

Dundonnell Wind Farm Pty Ltd

Wingeel Wind Farm Pty Ltd

Church Lane Wind Farm Pty Ltd

Salt Creek Wind Farm Pty Ltd

Vincent James Hawksworth

Tararua Wind Power Limited

Trustpower Metering Limited

Trustpower Australia (New Zealand) Limited

Trustpower Insurance Limited

Bay Energy Limited

Energy Direct NZ Limited

Trustpower Market Services Pty Ltd

Trustpower Australia Holdings Pty Ltd

Trustpower Renewable Investments Pty Ltd

Snowtown Wind Farm Pty Ltd

Sellicks Hill Wind Farm Pty Ltd

Snowtown Wind Farm Stage 2 Pty Ltd

Snowtown South Wind Farm Pty Ltd

Dundonnell Wind Farm Pty Ltd

Wingeel Wind Farm Pty Ltd

Church Lane Wind Farm Pty Ltd

Salt Creek Wind Farm Pty Ltd

No directors’ fees or other benefits were paid in relation to these directorships during the financial year. The remuneration and other benefits received by employees acting as directors of subsidiaries during the financial year is disclosed in the relevant bandings for employee remuneration.

General Notice of Interests by Directors of Subsidiary Companies

Director

Interest

Entity

Bruce James Harker*

Michael James Cooney*

Geoffrey Jon Campbell Swier*

Vincent James Hawksworth

Chief Executive

Trustpower Limited

*Refer General Notice of Interests by Directors

Information used by Directors of Subsidiaries
During the financial year there were no notices from directors of subsidiary companies requesting to disclose or use subsidiary company information received in their capacity as directors which would not otherwise have been available to them.

Employee Remuneration
During the financial year the number of employees or former employees (including employees holding office as directors of subsidiaries) who received remuneration and other benefits in their capacity as employees of the Company, the value of which was or exceeded $100,000 per annum was as follows:

Remuneration Ranges

Number of Employees

$100,000 – 109,999

17

$110,000 – 119,999

9

$120,000 – 129,999

14

$130,000 – 139,999

4

$140,000 – 149,999

8

$150,000 – 159,999

3

$160,000 – 169,999

2

$170,000 – 179,999

4

$180,000 – 189,999

3

$190,000 – 199,999

2

$200,000 – 209,999

-

$210,000 – 219,999

4

$220,000 – 229,999

-

$230,000 – 239,999

4

$240,000 – 249,999

-

$250,000 – 259,999

1

$260,000 – 269,999

3

$310,000 – 319,999

1

$320,000 – 329,999

1

$380,000 – 389,999

1

$460,000 – 469,999

1

$500,000 – 509,999

1

$600,000 – 609,999

1

$620,000 – 629,999

1

$1,350,000 – 1,359,999

1

Directors’ Transactions and Relevant Interests in Securities of the Company
The relevant interests of Directors in securities of the Company as at 31 March 2014 are listed below together with transactions by Directors in securities of the Company during the financial year.

Director

Number
Acquired/
(Disposed)

$ Amount Paid/ (Received)

Date

Class of
Security

Number
Held at
31 March 2014

Number
Held at
31 March 2013

BJ and JS Harker Family Trust (beneficial)

Bonds

150,000

150,000

4,877

36,255

1 July 2013

Shares

6,218

41,251

6 December 2013

Shares

56,041

44,946

RH Aitken (beneficial)

2,522

18,748

1 July 2013

Shares

3,015

20,002

6 December 2013

Shares

16,955

11,418

MJ Cooney (beneficial)

2,522

18,748

1 July 2013

Shares

3,015

20,002

6 December 2013

Shares

28,417

22,880

MJ Cooney (non-beneficial)

-

-

-

Bonds

150,000

150,000

MJ Cooney (non-beneficial)

-

-

-

Shares

103,878,838

103,878,838

IS Knowles (beneficial)

(100,000)

N/A

October 2013

Bonds

-

100,000

IS Knowles (beneficial)

2,859

21,253

1 July 2013

Shares

3,392

22,503

6 December 2013

Shares

30,766

24,515

Maclagen Pty Ltd as Trustee for the Swier Family Trust (beneficial)

3,976

29,557

1 July 2013

Shares

4,710

31,247

6 December 2013

Shares

47,251

38,565

M Bogoievski (beneficial)

2,522

18,748

1 July 2013

Shares

3,015

20,002

6 December 2013

Shares

15,697

10,160

The non-beneficial shares recorded for MJ Cooney are held in his capacity as a joint shareholder of the registered holder
of those shares (being TECT Holdings Limited) as a trustee of Tauranga Energy Consumer Trust for whom those shares
are held.

The non-beneficial bonds recorded for MJ Cooney are held in his capacity as Trustee for an estate and a private trust.

The shares held beneficially by MJ Cooney include shares held in own name and via a family trust.

The interests disclosed as bonds for IS Knowles are with respect to his position as executor and beneficiary of a family estate. IS Knowles no longer has an interest in these bonds as they were transferred to another beneficiary during the year.

The Company was not advised of any other security transactions by any Director during the year.