Vector Annual Report 2017

STATUTORY INFORMATION

STATUTORY INFORMATION

Interests register Each company in the group is required to maintain an interests register in which the particulars of certain transactions and matters involving the directors must be recorded. The interests registers for Vector Limited and its subsidiaries are available for inspection at their registered offices. Particulars of entries in the interests registers made during the year ended 30 June 2017 are set out in this Statutory Information section. Information used by directors During the financial year there were no notices from directors of Vector Limited, or any subsidiary, requesting to use information received in their capacity as a director which would not otherwise have been available to them. Indemnification and insurance of directors and officers As permitted by the Constitution and the Companies Act 1993, Vector Limited has indemnified its directors, and those directors who are directors of subsidiaries against potential liabilities and costs they may incur for acts or omissions in their capacity as directors. In addition, Vector Limited has indemnified certain senior employees against potential liabilities and costs they may incur for acts or omissions in their capacity as employees of Vector Limited, or directors of Vector subsidiaries. During the financial year, Vector Limited paid insurance premiums in respect of directors and certain senior employees’ liability insurance which covers risks normally covered by such policies arising out of acts or omissions of directors and employees in their capacity as such. Insurance is not provided for criminal liability or liability or costs in respect of which an indemnity is prohibited by law. Donations Vector Limited made donations of $10,000 during the year ended 30 June 2017. Subsidiaries of Vector Limited made donations of $8,850 during the year ended 30 June 2017. Credit rating At 30 June 2017 Vector Limited had a Standard & Poor’s credit rating of BBB/stable, and a Moody’s credit rating of Baa1/stable. NZX Regulation waivers and rulings Vector Limited has been granted waivers from the requirements of various listing rules to allow the Constitution to contain certain provisions which are not ordinarily contained in the constitution of a company listed on the NZSX, including, in particular, provisions giving certain rights to Entrust (formerly Auckland Energy Consumer Trust). Vector has been given a non-standard designation by NZX due to the inclusion of these provisions in its constitution. On 12 September 2008 NZX Regulation granted Vector a waiver from NZX Main Board Listing Rule 9.3.1 to the extent necessary to allow the trustees of Entrust to vote on any ordinary resolution of shareholders to set Vectors’ Director’s remuneration under NZX Main Board Listing Rule 3.5.1. Exercise of NZX powers NZX did not exercise any of its powers set out in Listing Rule 5.4.2 (relating to powers to cancel, suspend or censure an issuer) with respect to Vector Limited. Trustees of Entrust During the year ended 30 June 2017, Vector Limited made payments to J Carmichael and K Sherry, trustees of Entrust (Vector Limited’s majority shareholder) totalling $201,300 in respect of their roles as directors on the Vector Limited board. Subsidiaries and associates A list of each of the Company’s subsidiaries and associates is contained on pages 124 and 125. Other than PowerSmart NZ Limited and E-Co Products Group Limited, which were acquired on 1 April 2017, the Company has not gained or lost control of any entity during the year ended 30 June 2017.

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