Investor Information

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Investor Information
Constitution
Contact Energy Limited is a limited liability
company registered under the New Zealand
Companies Act 1993.
The New Zealand Stock Exchange Listing Rules
require listed companies to include in their
constitution one of three sets of provisions
relating to takeovers. The company’s Constitution
contains the set of provisions known as the
"General Notice and Pause Provisions". These
provisions place certain restrictions on, and
require compliance with, certain procedures in
connection with any transaction or arrangement
which results in any person or group of associated
persons acquiring control of 20% or more of the
shares. These provisions also apply where a person
already holds 20% or more of the shares and that
person increases control over a further 5% or
more of the shares in any twelve month period.
The restrictions and procedures are more stringent
where any such person is an insider (for example,
a Director or associated person of a Director or a
person in possession of non-public price sensitive
information). A new takeovers code is expected to
take effect from 1 July 2001 at which point these
notice and pause provisions will cease to apply.
The notice of meeting for the next Annual
Meeting of the company contains a resolution
relating to a set of proposed changes to the
Constitution principally required as a
consequence of some recent changes to the
New Zealand Stock Exchange Listing Rules. The
Notice of Meeting contains an explanation of the
proposed changes.
Stock Exchange Listing
The company is listed on, and its shares are
quoted on, the New Zealand and Australian Stock
Exchanges. The company’s primary listing, under
the ticker "CEN", is in New Zealand. The
Australian Stock Exchange has granted the
company foreign entity status under which
compliance with most of its Listing Rules is not
required so long as the company continues to be
listed on the New Zealand Stock Exchange.
Financial Calendar
Record Date for final dividend for the
8 December 2000
period ended 30 September 2000
Final dividend for the period ending
30 September 2000 paid
Annual Meeting
From
14 December 2000
30 January 2001
Interim 2000/2001 results announced
May 2001
Interim dividend for the period ending
May 2001
31 March 2001 paid
Annual Meeting
Contact’s Annual Meeting will be held on
30 January 2001 at the ASB Theatre, Aotea
Centre, Aotea Square, Queen Street, Auckland
commencing at 10am.
Dividend Policy
Contact’s dividend policy is to distribute over the
medium term, an average of approximately 80%
of net surplus, subject to considerations such as
meeting the solvency test, future capital
expenditure plans, expected operating and
economic conditions and the financial
performance of the company. In respect of each
of the dividend announcements since listing the
company has exceeded this target.
Further it is the company’s intention that the
dividend should be progressive with dividends
showing growth over time. The dividend to be
paid in respect of the financial year ended 30
September 2000 represents a growth of 10%
over that paid per share.
CONTACT ENERGY LIMITED
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Board of Directors
Phil Pryke
Phil Pryke has been Chairman of Contact Energy since the company’s establishment in November 1995. Mr Pryke is also
currently Chief Executive Officer of Lucent Technologies Australia Pty Limited. He is also currently a director of The
Australasian Institute of Immunology and Allergy Research. His previous roles include Chief Executive of the New Zealand
Health Funding Authority, a member of the Treaty of Waitangi Fisheries Commission and an advisor to the New Zealand
Apple and Pear Marketing Board. His previous Directorships include Sealord Products Limited, EDS New Zealand Limited,
Maori Development Corporation, Raukura Waikato Fisheries Limited. Mr Pryke holds a Bachelor of Economics Degree.
John Bryson
John Bryson was appointed to the Board of Contact Energy in January 2000. Mr Bryson is Chairman, President and Chief
Executive Officer of Edison International, the parent company of Edison Mission Energy. He joined Edison in February
1984 and was elected as chairman and CEO of Edison International and Southern California Edison on 1 October, 1990.
Before joining Edison, Mr Bryson was a partner in the law firm of Morrison and Foerster and has also served as President
of the California Public Utilities Commission. Mr Bryson is a Director of The Boeing Company, The Walt Disney Company,
W. M. Keck Foundation, the Council on Foreign Relations, and a trustee of Stanford University. He graduated from
Stanford University and earned a Doctor of Jurisprudence degree from Yale Law School.
Paul Anthony
Paul Anthony was recruited in 1995 as Contact’s Chief Executive to establish the Company and transition it to the private
sector. In July 2000 Mr Anthony resigned as Chief Executive and Managing Director to take up the position of Executive
Vice President of British Gas Group based in the UK. At British Gas he has responsibility for Global Transmission &
Distribution, Power and Group Strategy and Portfolio Development as well as regional responsibility for all business
activities in the Americas region. Mr Anthony has an extensive background in the international electricity sector. He
joined Contact from PowerGen plc where he held various executive positions including Project Director with PowerGen
International and Head of Corporate Planning at PowerGen plc. Mr Anthony holds a HND (Mech.Eng.) and is a member of
the Institute of Directors.
Bob Edgell
Bob Edgell was appointed to the Board of Contact Energy in May 1999 as one of the Edison Mission Energy nominees. Mr
Edgell has been an Executive Vice President of Edison Mission Energy since 1988 and Division President of Edison Mission
Energy, Asia Pacific, since 1995. He is responsible for all business activity in the Asia Pacific region. Mr Edgell joined
Southern California Edison, Edison Mission Energy's sister company, in 1968, and has held various engineering and
management positions throughout his career. He holds an undergraduate degree in electrical engineering from California
State University, Long Beach and a Master's degree in power engineering from the University of Southern California.
John Milne
John Milne has been a Director of Contact since the company’s establishment in November 1995. Mr Milne was a member
of the Due Diligence Committee facilitating Contact’s Share Offer in May 1999. He is Deputy Chairman of the Maritime
Safety Authority, a Director of Grove Mill Wine Company Limited and the New Zealand Wine Company Limited and
Chairman of the He Huarahi Tamariki Trust. He has held a number of Directorships in the oil, gas and forestry industries,
including Shell New Zealand Holding Company Limited, and senior management assignments with Shell International in
London and the Far East including Deputy Chief Executive and Vice President Finance for the Shell Companies in The
Philippines. Mr Milne holds an M.A. from Cambridge and a Bachelor of Commerce. He is a Chartered Accountant and a
Fellow of the Institute of Directors.
Tim Saunders
Tim Saunders was elected to the Board of Contact Energy in January 2000 having also been on the board from its
establishment until 1998. Mr Saunders is a partner in Northington Partners Limited, a corporate advisory firm in
Auckland. He is a Fellow of the Institute of Directors and is currently a Director of a number of companies including
AFFCO Holdings Limited, AGFA Gevaert NZ Limited, Bayer New Zealand Limited, Capital Properties Limited, Challenger
International (NZ) Limited, Feltex Carpets Limited (Chair), Pyne Gould Corporation Limited, South Eastern Utilities Limited
and Solid Energy NZ Limited (Chair). Mr Saunders holds a Master of Business Administration (Colombia) and a Bachelor of
Commerce degree in Economics (Cape Town).
Ray Vickers
Ray Vickers was appointed to the Board of Contact Energy in May 1999 as one of the Edison Mission Energy nominees.
Mr Vickers is Senior Vice President and General Counsel of Edison Mission Energy. Prior to joining Edison Mission Energy,
he was a partner in the Los Angeles office of Skadden, Arps, Slate, Meagher & Flom, a global law firm. Mr Vickers’
experience includes international business transactions, emphasizing cross-border capital markets and investment
transactions, project implementation and finance, and banking. He received a bachelor's degree from Harvard
University and a Bachelor of Laws degree from Harvard Law School and attended the University of Adelaide in Australia
as a Fulbright Scholar.
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Corporate Governance
Role of the Board
The Board of Directors has overall responsibility
for the management of the company and all
decision making. The Board is responsible for the
appointment of management and sets the strategic
direction of the company. The Board has delegated
certain of its powers to sub-committees of the
Board, and the day to day management of the
company, to the Chief Executive.
The Board reserves responsibility for significant
matters such as the approval of business plans and
budgets, agreeing to significant expenditure, the
incurring of significant indebtedness, the entry
into guarantees or indemnities and certain
significant statutory matters. Contact is also
required to seek the approval of its shareholders
prior to entering into certain types of transactions.
Board Operations and Membership
The Board currently has seven members, all of
whom are Non-Executive Directors. The current
members of the Board are:
Phillip Pryke
Chairman
John Bryson
Deputy Chairman
Paul Anthony
Robert Edgell
John Milne
Timothy Saunders
Raymond Vickers
During the financial year the following changes
occurred to the Board composition:
• Andrew Thomson and Brian Wood both retired
at the last Annual Meeting held on 25 January
2000;
• Phillip Pryke retired at the last Annual Meeting
and was re-elected to the board at the meeting;
on 25 January 2000. John Bryson was appointed
by the Board to fill the casual vacancy created
by Mr Muller’s resignation;
• Paul Anthony resigned as Managing Director and
Chief Executive with effect from 8 September
2000, and was with immediate effect appointed
by the Board as a Non-Executive Director to fill
the casual vacancy created by his resignation.
The Board has two formally constituted
Committees – the Board Audit Committee and the
Board Remuneration Committee. The Board also
establishes other committees on an ad hoc basis as
required from time to time.
The Board Audit Committee comprises Mr Milne (as
Chair) and Mr Edgell. The Board Audit Committee’s
purpose is to oversee the financial policies of the
company and to monitor the quality of financial
reporting and financial management.
The Board Remuneration committee comprises
Mr Pryke (as chair) and Mr Edgell. The Board
Remuneration Committee’s primary purposes are
to review and recommend to the Board the level
and type of remuneration for the Managing
Director and Chief Executive and the level and
type of remuneration for the Board.
During the financial year ended 30 September
2000, the Board met sixteen times. The table below
sets out attendance at the meetings.
Director
Board Attendance Committee Attendance
Audit
Phillip Pryke
15
John Bryson(1)
9
Paul Anthony
16
Robert Edgell
14
1
John Milne
16
2
Timothy Saunders
10
Raymond Vickers
13
• Timothy Saunders was elected as a Director at
the Annual Meeting on 25 January 2000;
Edward Muller (2)
3
Andrew Thomson (2)
4
• Edward Muller resigned as a Director with effect
from the conclusion of the last Annual Meeting
Brian Wood (2)
4
Remuneration
3
3
1
1
(1) appointed 25 January 2000 (2) resigned 25 January 2000
CONTACT ENERGY LIMITED
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Senior Management Team
The Senior Management Team comprises the
managers responsible for the major business areas
within Contact who report directly to the Chief
Executive9.
Stephen Barrett, Acting Chief Executive
Stephen Barrett assumed the role of acting Chief
Executive for Contact in September 2000. He has
been seconded to the role by his employer and
Contact’s cornerstone shareholder, Edison Mission
Energy (“EME”).
Mr Barrett has worked for EME and its affiliated
companies since 1972 holding a range of senior
positions, most recently as Regional Vice
President, Business Development, Asia Pacific. His
experience within the Edison group includes an
extensive background in power plant operations
and planning; interfacing with regulatory
agencies; development of cogeneration and
independent power projects worldwide; and
management responsibilities for EME’s regional
trading and risk management activities.
Prior to moving to Australia in October 1996 he
was responsible for the direction of EME’s business
development activities in Europe, including
establishing its first international office in London.
In 1999, Mr Barrett moved to Singapore where he
was based before his relocation to New Zealand.
Mr Barrett’s academic qualifications include a
Bachelor of Science in Electrical Engineering and a
Bachelor of Arts in Mathematics.
Stephen Cross, Sales and Marketing
with the company’s retail acquisitions.
As the General Manager, Sales and Marketing
Mr Cross is responsible for Contact’s marketing
activities and electricity and gas retail operations.
He is currently on the Board of Empower Limited.
Mr Cross has had a long involvement in the
New Zealand energy industry, having joined
Petrocorp in 1983 and remained with that company,
and its successor Fletcher Challenge Petroleum, until
1993. During this period he was employed in joint
venture management, acquisition, and project and
strategic planning roles. He subsequently spent time
working as an independent consultant and in the
merchant banking industry. Mr Cross holds a
Bachelor of Engineering (Hons) Civil.
Frank Geoghegan, Business Development
Frank Geoghegan joined Contact in 1996. He was
appointed as General Manager, Business
Development in December 1999 and is responsible
for identifying and securing business opportunities
in New Zealand for Contact, including examining
existing assets and new projects, and managing
acquisitions and divestments.
Mr Geoghegan has had a long involvement in the
New Zealand electricity industry. Prior to his
current role he was the Generation Manager based
in Auckland responsible for the operation and
maintenance of the Otahuhu B, Te Rapa and
Oakey plants and had responsibility for many of
the activities associated with the development of
Contact’s new generating assets in Australia and
New Zealand. Mr Geoghegan holds a Bachelor of
Engineering (Electrical) and an MBA.
Stephen Cross joined Contact in February 1999 as
General Manager, Fuels Trading and was appointed
General Manager, Sales and Marketing in April
2000. Immediately prior to this, from August 1998
he worked as a consultant for Contact assisting
9. The General Manager, Finance position is currently vacant due to a recent resignation; a process is underway to find a replacement and it is anticipated an
announcement will be made shortly. Pending an appointment the Finance Group report directly to the Chief Executive.
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Iain Graham, Information Management
Iain Graham joined Contact in 1996 to establish
the information technology infrastructure and
business processes for Contact. He was appointed
as General Manager, Information Management, in
October 2000 and as such is responsible for
Contact’s overall information systems.
Mr Graham has 20 years experience in the
Information Technology industry in New Zealand,
Australia and Brazil. He has broad experience
ranging from research and development through
to the design and project management of large
scale enterprise systems and has held senior roles
in the telecommunications, insurance and banking
industries. Prior to joining Contact Mr Graham was
an Information Systems Strategist for Unisys New
Zealand Limited. He is currently on the Board of
e://volution E-business Limited.
David Hill, Generation Operations
David Hill joined Contact in June 1996 as General
Manager, Generation Operations. He is responsible
for the oversight and co-ordination of activities of
Contact’s three generation groups (hydro,
geothermal and thermal). Mr Hill joined Contact
after spending five years as a freelance business
consultant and Company Director. His
Directorships included Chairman of Ubix Business
Machines Limited which included periods as
Executive Chairman. Prior to this, Mr Hill spent 13
years in the finance industry in a variety of senior
and general management roles. He holds a
Bachelor of Commerce and Administration and is a
member of the Institute of Directors.
David Hunt, Corporate Affairs
David Hunt joined Contact in February 1996 and
was appointed as Strategic Planning Manager. In
June 1999 he took up the position of General
Manager Corporate Affairs. Prior to his work at
Contact, Mr Hunt held a number of different
positions in the government sector, including
Economic Adviser to the Minister of Finance,
Energy Policy Manager at the Treasury and
Economic Counsellor at the New Zealand High
Commission in London. He has degrees in
economics and statistics.
Toby Stevenson, Electricity Trading
Toby Stevenson joined Contact in 1995 as General
Manager, Electricity Trading. He oversees Contact’s
spot trading activities, risk management and
contract management and is currently a member
of the NZEM Rules Committee. Mr Stevenson
joined Contact from Deutsche Morgan Grenfell in
Sydney where he was an Associate Director
responsible for managing the international futures
desk. Prior to joining Deutsche Morgan Grenfell,
Mr Stevenson held various positions in the primary
industry and commodity markets in New Zealand.
He holds a Bachelor of Agricultural Commerce
(Economics).
David Thomas, Fuels Trading
David Thomas joined Contact in July 1996 and was
appointed as General Manager, Fuels Trading in
October 2000 after performing the role in an
acting capacity since April 2000. He is responsible
for managing Contact’s portfolio of gas assets,
including gas supply contracts and sales contracts
to major users. Mr Thomas has 16 years experience
in the oil and gas industry in New Zealand, United
Kingdom and Canada. During this period he has
been employed in various engineering, trading,
acquisition and divestment, and strategic planning
roles. Prior to joining Contact Mr Thomas was
Manager LPG for Fletcher Challenge Energy. He
holds a Bachelor of Science and a Bachelor of
Engineering (Hons)(Chem).
CONTACT ENERGY LIMITED
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Statutory Information
For the year ended 30 September 2000
Entries Recorded in the Interests Register
The following entries have been made in the interests register:
(a) Share Dealings of Directors
Contact Directors disclosed the following transactions in Contact shares for the year
P Anthony
Date of transaction
Consideration
per share
Number of shares
acquired
Nature of
relevant interest
28 August 2000
$2.51
20,000
Beneficial
EME appointed Directors J Bryson, R Edgell and R Vickers are prohibited under EME policies from owning
shares in Contact.
(b)Directors’ interests in transactions
General disclosures
As at 30 September 2000, the following Directors have made the following general disclosures. Each such
Director will be regarded as interested in all transactions between Contact and the relevant entity.
P Pryke:
Lucent Technologies (Australia) Pty Limited
Lucent Technologies (NZ) Limited
Institute of Immunology & Allergy Research
Pauatahanui Projects Limited
Managing Director
Director
Director
Director
P Anthony:
British Gas Group
Executive Vice President
J Milne:
Maritime Safety Authority of New Zealand
Grove Mill Wine Company Limited
The New Zealand Wine Company Limited
He Huarahi Tamariki Trust
Health Benefits Limited
ANZ Banking Group
Fletcher Challenge Limited
Deputy Chairman
Director/Shareholder
Director
Chairman/Trustee
Director (ceased)
Shareholder
Shareholder
T Saunders:
AFFCO Holdings Limited
AGFA Gevaert Limited
Allied Finance Limited
Bayer New Zealand Limited
Capital Properties (NZ) Limited
Feltex Carpets Limited
L.E.K. Consulting Australasian Advisory Board
Northington Partners Limited
Pyne Gould Corporation Limited
Solid Energy (NZ) Limited
South Eastern Utilities Limited
Challenger International Limited
Director/Shareholder
Director
Director
Director
Director
Director
Advisory Board Member
Partner
Director/Shareholder
Director/Chairman
Director
Director
J Bryson:
Edison International Limited – Chairman of the Board, President and Chief Executive Officer
R Vickers:
Edison Mission Energy Limited - Senior Vice President and General Counsel
R Edgell:
Edison Mission Energy Limited - Executive Vice President
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Specific Disclosures
There were no specific disclosures during the year of any interests in transactions entered into by Contact.
(c) Use of Company Information
No member of the Board issued a notice during the year regarding the use of company information.
(d)Directors’ Indemnity and Insurance
Contact has agreed to indemnify Contact’s Directors, including Directors of subsidiary and associated
companies, against any liability or costs incurred in any proceeding, excluding actions for gross
negligence, criminal liability, breach of fiduciary duty or breach of Directors’ duties.
Contact has taken out comprehensive insurance cover, including insurance policies that indemnify
Directors, including Directors of subsidiaries and associates, against various potential legal liabilities.
(e) Authorisations of Remuneration and Contracts of Employment
Entries were made in the interests register during the accounting period in respect of changes to Paul
Anthony’s employment contract, performance bonuses paid to Paul Anthony and payments made to
Brian Wood and Andrew Thomson on retirement as Directors.
Remuneration of Directors
Below are details of the total of the remuneration and the value of other benefits received by each Director
and former Director during the year:
Director
P Pryke
P Anthony*
J Milne
T Saunders
J Bryson
R Edgell
R Vickers
B Wood
A Thomson
E Muller
Total
Position
Directors
Fees
Chairman
Managing Director
Director
Director
Deputy Chair
Director
Director
Director
Director
Deputy Chair
$58,458
Retirement
Payments
Board Audit
Committee
Fees
Executive
Remuneration
and Other Benefits
$2,947,136
$29,229
$20,333
$23,667
$29,229
$29,229
$8,896
$8,896
$10,563
$218,500
$1,500
$1,500
$65,000**
$65,000**
$750
$130,000
$3,750
$2,947,136
Total
Remuneration
and Other Benefits
$58,458
$2,947,136
$30,729
$20,333
$23,667
$30,729
$29,229
$73,896
$74,646
$10,563
$3,299,386
* Paul Anthony was the Chief Executive and Managing Director of Contact Energy up to and including
8 September 2000. On his resignation as Chief Executive, the Board invited Mr Anthony to remain as a
Director of the Company to fill the casual vacancy. He did not receive any Directors’ fees during the
accounting period. The total of the remuneration he received during the year was $2,947,136. This
comprised the following payments:
• salary and bonus payments amounting to $1,643,780;
• as contemplated by the 1999 Annual Report, a payment of $928,356 in May 2000 being the amount
equal to the price of 330,000 shares in the company as at 24 May 2000;
• a sum of $375,000 was paid in relation to the satisfactory completion of performance targets prior
to the effective date of the resignation of the Chief Executive. This payment was the subject of a
further entry in the interests register shortly after the end of the financial year.
** The retiring directors also received a gift of crystal glassware.
CONTACT ENERGY LIMITED
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Directors of Contact Subsidiaries
Directors
Contact Group Company
Paul Smith
Contact Australia Pty Ltd
Contact Operations Australia Pty Ltd
Contact Hydro Australia Pty Ltd (resigned)
Contact Hydro Services Pty Ltd (resigned)
David Hunt
Contact Australia Pty Ltd
Contact Operations Australia Pty Ltd
Contact Otahuhu B Ltd
Linda Robertson Contact Otahuhu B Ltd
Stephen Cross
Empower Limited
Paul Anthony
Contact Australia Pty Ltd, (resigned)
Contact Operations Australia Pty Ltd (resigned)
Contact Hydro Australia Pty Ltd (resigned)
Contact Hydro Services Pty Ltd (resigned)
Empower Limited (resigned)
Graham Kelly
Contact Australia Pty Ltd, (resigned)
Contact Operations Australia Pty Ltd (resigned)
Contact Hydro Australia Pty Ltd (resigned)
Contact Hydro Services Pty Ltd (resigned)
Tina Hailstone
Empower Limited
Total
Board Fees
Consultant Fees
0
0
0
0
0
0
0
0
0
0
0
0
0
0
$3,161
$3,161
$3,162
$3,161
0
$12,645
$8,371
$11,605
$28,727
$4,946
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
$53,649
Total of remuneration
and Value of
Other Benefits
$8,371
$11,605
$28,727
$4,946
0
0
0
0
0
0
0
0
0
0
$3,161
$3,161
$3,162
$3,161
0
$66,294
Remuneration of Employees
The following table shows the number of Contact employees, not being Directors, who received
remuneration and other benefits during the year ended 30 September 2000 exceeding $100,000.
Remuneration Bands
$100,001 - $110,000
$110,001 - $120,000
$120,001 - $130,000
$130,001 - $140,000
$140,001 - $150,000
$150,001 - $160,000
$160,001 - $170,000
$180,001 - $190,000
$190,001 - $200,000
$230,001 - $240,000
$250,001 - $260,000
$280,001 - $290,000
Number of Employees
7
4
4
6
2
3
2
1
1
1
3
2
Donations
During the year Contact made donations totalling $84,684.
Auditors
The principal auditor for the Company is Arthur Andersen. The amount payable by the company to Arthur
Andersen as audit fees in respect of the year is $150,000. In addition Empower Limited paid
PriceWaterhouseCoopers $20,000 as audit fees in respect of the year. The amount payable by Contact in
respect of the year for other services provided by Arthur Andersen is $96,802.
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Shareholder Information
The following information is provided in accordance with the Listing Rules of the New Zealand Stock Exchange.
20 Largest Registered holders of Quoted Equity Securities as at 13 November 2000
Edison Mission Energy Taupo Ltd
241,580,000
ANZ Nominees Ltd
33,461,088
National Nominees NZ Ltd
27,651,946
AMP Superannuation Tracker Fund
7,965,921
AMP Life
6,677,255
National Mutual Life Ass of Australasia A Account
5,720,474
Trustees Executors & Agency Co of NZ Ltd
5,467,319
Citibank Nominees NZ Ltd
4,106,231
Guinness Peat Group New Zealand Limited
3,426,077
BNZ Nominees
3,238,550
Premier Nominees – Armstrong Jones Share Fund
3,213,519
Debenture Nominees Ltd
2,923,630
BT NZ Unit Trust Nominees Limited
2,708,615
BT New Zealand Nominees Limited
2,508,713
NZ Guardian Trust NZSE10 Index Fund
2,412,914
Credit Suisse First Boston Custodians Limited
1,909,456
Sheath Holdings – Strategic New Zealand Equity Income Trust
1,692,109
NZGT Nominees Ltd - AIF Equity Fund
1,555,276
Tracker Nominees –AMP Investments Tracker Nominees
1,283,205
Westpac Superannuation Nominees NZ Ltd
1,276,174
Total
360,778,472
Total Other Shares
243,171,528
Total Contact Shares
603,950,000
Total Treasury Stock
21,128,823
Total Shares (excluding Treasury Stock)
582,821,177
Distribution of Security Holders and Security Holdings as at 13 November 2000
Size of shareholding
No. of holders
% of holders
No of shares
% of shares
60
0.03%
1,893
0.00%
100 – 199 shares
234
0.14%
34,074
0.01%
200 – 499 shares
32,759
19.91%
12,476,529
2.07%
500 – 999 shares
1 - 99 shares
109,082
66.29%
82,123,844
13.60%
1,000 – 1,999 shares
8,649
5.26%
12,500,821
2.07%
2,000 – 4,999 shares
9,171
5.57%
27,348,239
4.53%
5,000 – 9,999 shares
2,703
1.64%
17,560,168
2.91%
10,000 - 49,999 shares
1,734
1.05%
28,515,111
4.72%
50,000 - 99,999 shares
92
0.06%
5,659,599
1.08%
100,000 – 499,999 shares
68
0.04%
11,761,194
1.95%
500,000 – 999,999 shares
5
0.00%
2,954,831
0.44%
Above 1,000,000 shares
25
0.01%
403,013,679
66.73%
164,582
100.00%
603,950,000
100.00%
Total
CONTACT ENERGY LIMITED
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Substantial Security Holders
As at 21 November 2000 the following persons had notified the company that they were substantial security
holders for the purposes of section 26 of the Securities Amendment Act 1988.
Substantial security holder
Nature of interest
Edison Mission Energy Taupo Limited
Shareholder
Number of shares
241,580,00010
Edison Contact Investments Limited
Mortgage and charge granted by Edison Mission
Energy Taupo Limited in favour of Edison Contact Investments Limited
241,580,000
Credit Suisse First Boston,
Melbourne Branch Offshore Banking
Unit as agent for itself, Edison
Contact Finance Limited, Credit
Agricole Indosuez Australia Limited,
SG Australia Limited and The
Development Bank of Singapore Limited
Charge granted by Edison Contact Investments Limited over its assets
(including its rights under mortgage and charge granted by Edison
Mission Energy Taupo Limited referred to above) in favour of Credit
Suisse First Boston, Melbourne Branch Offshore Banking Unit as agent
for itself, Edison Contact Finance Limited, Credit Agricole Indosuez
Australia Limited, SG Australia Limited and The Development
Bank of Singapore Limited
241,580,000
Credit Suisse First Boston, Melbourne
Branch Offshore Banking Unit
Under charge granted by Edison Contact Investments Limited
referred to above
241,580,000
Edison Contact Finance Limited
Under charge granted by Edison Contact Investments Limited
referred to above
241,580,000
Credit Agricole Indosuez Australia
Limited
Under charge granted by Edison Contact Investments Limited
referred to above
241,580,000
SG Australia Limited
Under charge granted by Edison Contact Investments Limited
referred to above
241,580,000
The Development Bank of
Singapore Limited
Under charge granted by Edison Contact Investments Limited
referred to above
241,580,000
The number of shares of Contact as at 21 November 2000 was 603,950,000 (including shares held by the
company as Treasury Stock). The Directors note that they have been informed that all the disclosures set out
above relate to the same block of shares held by EME.
Directors’ and their Associated Persons’ Security Holdings as at 30 September 2000
Director
Number of Shares
P Pryke
20,604
P Anthony
65,993
J Milne
29,837
T Saunders
1,613
EME appointed directors J Bryson, R Edgell and R Vickers are prohibited under EME Policies from owning
shares in Contact.
Credit Rating
On 30 September 2000 Standard and Poor’s long term credit rating for Contact was BBB+ Stable.
Exercise of NZSE disciplinary powers
The New Zealand Stock Exchange has not exercised any of its powers under Listing Rule 5.4.2.
Directors’ Statement
This Annual Report is dated 22 November 2000 and is signed on behalf of the Board by
P Pryke, Chairman
J Milne, Director
10. Edison Mission Energy, the ultimate parent company of Edison Mission Taupo Limited, has announced that EME Pacific Holdings, also a subsidiary of Edison
Mission Energy, is the beneficial owner of 4,121,262 Contact shares comprising approximately 0.7% of Contact’s shares.
28
CONTACT ENERGY LIMITED