wel networks limited is an electricity distribution company , serving the northern and central waikato region in new zealand .

wel is the fifth largest electricity distribution companies in new zealand , with over 80,000 connections and 5,226 km of lines .

wel was formed when legislation in 1988 amalgamated the central waikato electric power board with hamilton city council 's electricity division from 1989 to form waikato electricity limited .

after amalgamation , ownership of wel was vested in the waikato electricity authority ( wea ) .

wea formed wel energy trust in 1993 , with the first election in june , so that the community could have some ownership of wel .

in 1992 a third of wel was sold to utilicorp for almost $ 40m , a third retained for the trust and a third given to customers .

the electricity industry reform act 1998 forced wel to sell its retail business .

it sold to the state owned ( but later bought as ngc by vector limited ) natural gas corporation for $ 89.9 m .

the trust then bought back all wel 's shares to become its sole owner .

in 2001 wel was renamed wel networks ltd . after the trust 's 2003 elections it reduced grants given to community groups and started paying discounts to customers .

by 2014 the trust had paid over $ 240 million to customers in discounts , but had also invested over $ 60 million in community and energy efficiency grants .

in 2014-15 , over $ 2m was paid in grants .

wel networks subsidiary ultrafast fibre limited has formed a joint venture with crown fibre holdings to form ultrafast broadband limited .

this joint venture has secured government contracts to deploy , own and operate the ultra-fast broadband fibre to the premises network in the central north island .

wel networks

wel networks <EOT> an asset management plan ( " amp " ) has been prepared by wel networks limited and approved by the wel networks ltd board .

the ultimate parent of wel networks limited is thewel energy trust which owns 100 % of its shares .

safety is the priority for wel networks and any systems that compromise network safety may be disconnected without notice .

all members of the group are considered related parties of wel networks limited . this includes the subsidiaries and associated

the financial statements of the ‘parent’or ‘company’are for wel networks limited as a separate legal entity . the consolidated financial

wel networks ltd also has a smart box programme . the top energy project is delivered through smart co ltd , of which wel is a 15 % shareholder .

rights and obligations each investor . wel networks limited has assessed the nature of its joint arrangements and determined them to be

wel networks limited is a limited liability company which is domiciled and incorporated in new zealand . it is registered under the

the wel networks asset management plan presents the processes , practices and performance measurement for our assets in the next ten years .

wel networks limited is a profit - oriented company incorporated in new zealand under the companies act 1993 . the group consists of

wel networks limited ( ‘the company’or ‘parent’ ) and its subsidiaries ( together ‘the group’ ) . the group is an electricity network business ,

the joint meridian energy - wel networks project was recognised at the deloitte energy excellence awards on wednesday , taking out the environmental excellence award .

at wel networks we ' re delivering innovative energy solutions which enable our communities to thrive , and keep the lights on 24 / 7 .

wel services is an independent contracting entity wholly owned by wel networks . our technicians are certified in network and electrical knowledge and are qualified to make technical decisions , or recommend and direct corrective measures on the network .

ultrafast fibre limited was established by the company in 2010 in order to fulfil a new zealand government initiative to rollout ultrafast broadband ( ufb ) across eight centres in central north island . interests in fibre are held through waikato networks ltd ( wnl ) of which wel networks ltd is an 85 % shareholder ( waipa networks owns 15 % ) .

statements of the ‘consolidated’or ‘group’entity are for the economic entity comprisingwel networks limited and its subsidiaries .

waikato networks limited is a construction company that is building a fibre network for ultrafast fibre limited .

waikato networks limited owns 33 % ( 2014 : 24 % ) of ultrafast fibre limited shares .

changes for the wel electricity lines discount programme from 2019 . . . read more

the amp is available for inspection at the offices of wel networks , 114 maui street , te rapa - hamilton , between the hours of 9am and 5pm on usual working days .

wel ' s full network connection standard ( distribution code ) can be found here .

if you ' re building , changing the electrical load on an existing site or wanting to relocate an existing power connection you ' ll need to make an online application request to wel networks .

wel energy trust was formed in 1993 for the purpose of holding shares in the newly created lines company wel energy group . the trust is now a 100 % shareholder of wel networks ltd , as the group is now known , and owns these shares on behalf of the community . the trust invests about $ 2 . 5 million each year into the community through grants .

the parent has 85 shares ( 85 % of shares ) inwaikato networks limited . the shares are fully paid .

since its inception in 1993 , the trust has supported the return of $ 273 million to wel networks customers through discounts on individual electricity accounts and investments over $ 60 million in community and energy efficiency grants .

the parent has 85 shares ( 85 % of shares ) in waikato networks limited . the shares are fully paid .

the 2016 wel networks discount is here – watch out for it on your april / may power bill . as part of wel’s commitment to the region’s growth , we’re constantly looking for ways to reduce the cost of electricity to the people and businesses of the waikato . one of our major initiatives is the wel discount programme , which gives all wel customers in the waikato network area a share of our success via a discount , once a year . for more information about the 2016 discount , click the link below :

income beneficiaries are those electricity customers connected to the wel networks power lines network in the trust ' s traditional area . here is a map showing the trust’s district . within this area reside the electors and beneficiaries of the trust .

wel energy trust ( the trust ) was formed in 1993 for the purpose of holding shares in the newly created wel energy group , and has a governing document effective from this time , the trust deed .

wel energy trust is proud of its ownership of wel networks ltd and supports its aspiration to provide high quality , reliable utility services valued by their customers , whilst protecting and enabling the community . wel networks has maintained strong delivery of their core service that delivers electricity to over 84 , 000 homes , farms and businesses . the wel group is also focussed on making strategic investments in new technologies to take the business into the future . their vision is to not only ensure that the network remains sustainable , but to enable wel to continue to enhance the region’s economic and social growth . it is a diversified utility , and strategic holder of ultra - fast fibre ( uff ) , they have accomplished the delivery of their smart box project , and are installing five electric vehicle fast chargers around the waikato .

the trust was originally the 1 / 3 owner of the group , and the purpose of this shareholding under the trust deed is to ensure the company , now known as wel networks ltd ( the company ) , operates as a ‘successful company’ .

in the majority of distributed generation connections ( once completed ) the electricity authority ' s regulated terms from the code part 6 . 2 will apply . however wel networks and the distributed generator may enter into a connection contract at any time and these contract terms shall take precedence . if contracted terms cannot be negotiated and agreed within 30 days following notice to wel networks of the intent to form a contract then the regulated terms shall apply . any changes to contracted terms shall be by mutual agreement .

section 2 . 6 of wel ' s network connection standard ( distribution code ) outlines our connection standards for distributed generation .

wel networks ' coverage extends from maramarua in the north and across to the west coast , including huntly , raglan , te kauwhata and ngaruawahia . to confirm if your property is in our network , call us on + 64 7 850 3100 or 0800 800 935 . you ' ll need your address or lot number .

the small print - the wel promise doesn’t apply to faults beyond our control such as storms , lightning , vehicle accidents , third party damage , or other events outside our control . this includes faults in your electrical wiring or the lines and electrical equipment on your property connecting to the wel network .

planned or unplanned maintenance wel networks is legally responsible for the network and may dispatch our technicians at any time to conduct planned or unplanned maintenance ( in case of emergency ) on assets including those located on private property . they can do so without prior permission of the property owner who is required to provide access at all times .

we move electricity from the grid to your home or business through a network of retailers . here’s everything you need to know to connect to the wel network .

are you passionate about trees ? want to be part of a great team can you safely operate the latest plant and equipment ? come and join us ! wel services is a . . .

as 4777 . 2 : 2005 - application can be accepted under part 1 of the code . a list of compliant inverters which wel accepts under this revision of standard can be found here ; approved inverter list - as 4777 . 2 : 2005

tree and vegetation trimming we offer tree and vegetation maintenance in and around your property using a skilled team of arborists who can assist you with such management and we offer all wel customers one free trim . we’ll provide a quote before we begin .

cable or service location if you’re planning on working on or around the wel network you should be aware of all the cables / pipes and service lines in the vicinity . our technicians can help prior to the start of work to prevent any undue damage and costs .

craig grew up in the waikato , and graduated from waikato university before postgraduate study at lincoln university and the university of pennsylvania . he has significant energy and electricity experience and is the former chief investment officer of waikato - tainui . craig has also held senior executive roles in banking and investment for nzsx listed entities . craig understands intergenerational investment , balancing future generations ' wishes with current needs . he brings strong industry / investment management ( certified finance and investment professional ) and governance to support the trust in managing the investment in wel networks ltd , delivering operational success , ensuring consumers have a voice in industry matters , and distributing surplus income .

to deliver a top notch network and energy solutions we employ around 250 employees with a range of expertise ; from live line mechanics , faults technicians and technical planners , to in - house health & safety professionals , accountants and human resource management . we’re fully community - owned with wel energy trust our sole shareholder .

if you are generating energy via alternative sources - for example photovoltaic ( solar panels ) , micro wind ( turbines ) , gas , diesel and biomass ( vegetation ) - distributed generation allows you to connect to , and input any surplus power into the the wel network . this can be used for commercial distribution . learn more here .

as / nzs 4777 . 2 : 2015 - application can only be accepted under part1a of the code and special attention shall be made as per regulatory guidance notes from energy safety . a list of compliant inverters which wel accepts under this new revision of standard can be found on the australian clean energy council website here : approved inverter list - as / nzs 4777 . 2 : 2015 .

raewyn took on the role of trust manager at wel energy trust in august 2014 , and has come from a background in a range of management and front line communications , marketing , relationship building and strategic planning roles in sectors including business , education and tourism . a degree in management studies and japanese from the university of waikato led to a variety of posts including japanese speaking tour guide , personnel consultant and later a career in education where she was subject leader for japanese for at the university of central lancashire in the uk for over 10 years and completed a masters in education . upon returning to new zealand , raewyn led the operations of the cambridge chamber of commerce as ceo , where she worked to positively influence business vitality in the region . her relationship building skills and ability to communicate with a range of stakeholders are key in her current role which is centred on the working with the trustees and the wel energy team towards acheiving the trust ' s core purpose : " growing investment for our community " .

david ' s background was initially in social work , youth work and community development , and he has worked for various local agencies since the late 1970s . his extensive exsperience in funding goes back to establishing cogs in the waikato , hauraki , tauranga and king country regions in 1984 , and then managing regional community services for the department of social welfare . along the way he established and managed a nationally recognised and award - winning education training provider . this was followed by almost 15 years of self - employment working for training providers , government departments and community organisations , undertaking research , development , project management and other consultancy work . this also included 10 years of managing national contracts to deliver training , mentoring and coaching in the social services sector . in 2007 , david was contracted by the wel energy trust as a grants assessor for the annual grants round . he commenced working for the trust on a permanent part - time basis in june 2011 in the role of grants advisor , and since july 2014 has been in the full - time position of grants manager .

te uku wind farm near raglan ' s wild and windswept coast has secured a premier environmental award .

the challenging wind farm project , which was delivered 2 1 / 2 weeks ahead of schedule , included construction of 26 kilometres of road , co - operation with contracts , consultants and consenting authorities to optimise civil works and minimise the construction ' s footprint .

judges were impressed by the innovative use of environmental control measures . they admired the controls to prevent sediment erosion , as well as the connection with local residents .

" this paid off raising the bar in how to get a difficult project over the line with smart environmental management . "

the use of the largest wheeled crane in new zealand – a 600 - tonne capacity narrow - wheeled crane – allowed the team to reduce road widths from 10 metres to six metres and just - in - time delivery of turbine elements and a two - crane operation helped minimise the size of crane platforms . soil conditioning reduced cut - to - waste , haul distances and fuel use , while 40 , 000 native plants were planted to restore the landscape .

the project also received the inaugural environment waikato earthworks site of the year award .

other winners : overall energy company of the year , z energy ; innovation in electricity award , powerco – leading innovation ; innovation in petroleum award , contact energy & origin energy – ahuroa gas storage facility ; excellence in health & safety award , mb century – the path to hse excellence ; young energy executive of the year , james kilty – contact energy ; energy executive of the year , patrick strange – transpower ; lines company of the year , powerco ; energy retailer of the year , mercury energy ; editor ' s award for outstanding contribution to the sector , roger sutton .

the trust was established for a period of 80 years . it will continue until 2073 unless it decides that the purpose the trust was established for has been completed .

the capital beneficiaries are hamilton city council ( 63 % ) , waikato district council ( 35 % ) & waipa district council ( 2 % ) . when the trust is wound up these three councils will receive the capital in the percentages outlined .

under the trust deed , the definition of a ‘successful company’ includes not only profitability but the need to exhibit a sense of social responsibility by having regard to the interests of the community and by endeavouring to accommodate or encourage those interests when able to do so .

as per the trust deed , on winding up of the trust in 2073 , the fund will be distributed to territorial authorities ( capital beneficiaries ) in specific proportions ( hamilton city council – 63 % , waikato district council – 35 % , waipa district council – 2 % ) .

the trust held its triennial election in june 2017 . all five of the existing trustees who stood for election were returned to be joined by two new trustees ; mike rolton and craig stephen . those re - elected were mark ingle , denise harding , rob hamill , charlotte isaac and kathryn williams . all trustees bring a wide range of business and community experience and involvements to the trust .

mark is a passionate supporter of all good things waikato and sees the potential the trust has to be influential in the way our region grows into the future . he values fairness and honesty , and always balances commercial objectives with social needs . hamilton is home , and mark graduated from the university of waikato in 1990 , having completed a business management degree , majoring in accounting . mark has spent his working life in service orientated industries , including finance , hospitality and leisure . he has a reputation for making things happen , as seen by the various events he has been involved with and the businesses and organisations he has worked for , and continues to work with . mark is the trust chair and a member of the finance sub - committee .

charlotte has a long involvement in community governance and volunteering ( in performing arts , sports , business and social services sectors ) . her current trustee positions are with dv bryant trust , one of the longest - running philanthropic trusts in the waikato , whose primary objective is to enhance human welfare in the waikato ; and the one victoria trust , which owns and operates the meteor theatre . charlotte was born and raised in hamilton , and is proud to call hamilton home . she is a director and commercial lawyer at davidson twaddle isaac lawyers . charlotte has a huge appreciation of the impact the works of the trust can have on our region , and is committed to ensuring the trust investments in the community are as effective as possible . in particular she is interested in collaborations between other community funders , as she believes working together will achieve great outcomes for our community .

rob is passionate about environmental and healthy community initiatives . he has a special interest in sustainability with a focus on energy production and use . rob is chairman of the energy efficiency sub - committee , responsible for insulating older homes and promoting the use of solar , wind energy and other technologies that ultimately decrease power bills . he also leads the industry portfolio . following his olympic and trans - atlantic ocean rowing challenges , rob developed a career in motivational speaking and promotes rowing via the gallagher great race ( urltoken ) . he is keen to see people connect to our natural world via ocean rowing and other adventures , the latest being the 4caps expedition ( urltoken ) . rob lives in te pahu where he and his wife rachel raise chickens , sheep , bees and three energetic boys . rob can be contacted via urltoken

denise was elected as a trustee in 2008 , she was the trust ' s deputy chair between february 2010 and july 2017 , is chair of the risk management sub - committee , serves on the trust ' s energy efficiency sub - committee and leads the community organisations portfolio . as a trustee of this community trust , denise is keen to promote a greater understanding of the trust within the region and to foster sustainable management of available trust funds to achieve the objectives of the trust . denise has lived in hamilton with her family for over two decades . she has degrees in science , law and social sciences , with a post - graduate diploma in agricultural science . she is also a registered patent & trade mark attorney . denise previously worked in the sciences for 12 years , at massey university , university of waikato and nzed ( electricorp ) . since 1994 she has worked in the legal and patent and trade mark attorney fields , assisting individuals and businesses throughout the region . she was , until recently , actively involved in export waikato for some years , having served as deputy chair on the enz waikato executive committee , and as an enz representative on the combined waikato ema / enz executive committee . denise has recently established her own ip firm .

mike is the general manager of st vincent de paul in hamilton and is involved in a variety of charitable organisations that work in our community . he is a huge advocate in supporting local , looking after the community and creating opportunity for people to feel there is hope . his role at st vincent de paul has set him in good stead to gain an extensive understanding of what is happening at the coalface of our community . his repertoire allows him to provide a balance of management , business analysis , market comprehension and charitable experience . these facets help him contribute to the role the trust plays in the region .

kathryn is passionate about the trust ' s important role in giving back essential and much - needed support to the waikato region ' s community , while supporting growth and investment for future generations . kathryn has a background in health science and business management . for many years she has had numerous commercial and community governance roles , which include fund raising initiatives for hospice waikato and big hearts charitable trust . kathryn is a director / managing director and shareholder of several businesses , including a marketing and advertising agency , an international parking company and a large software company .

the trust office is generally open between 9 . 00 am and 2 . 00 pm , although staff may be in the office outside of these times , and because of limited staffing , there are times when the office is closed during these hours . the trust office is closed on public holidays and during the christmas / new year period . if you wish to meet with a member of the trust ' s staff , we suggest you ring us to make an appointment .

sarah has had 15 years experience in finance and administration roles . she joined the trust after spending a year at home with her firstborn , and she and her husband now have two children . sarah works at the trust on mondays , wednesdays and fridays . she enjoys swimming and spending time with her family .

shelley is originally from auckland and has lived in hamilton since 2001 . she has been in secretarial roles most of her working life and was employed part time in the accountancy sector as an administrator before joining the trust . shelley ' s husband is an electrician by trade and together they have three school - age children .

kiwibuild is an ambitious programme that aims to deliver 100 , 000 quality , affordable homes for first home buyers over the next decade .

the provinces are a key driver of new zealand’s economy and a priority for mbie .

the government is consulting on several changes and proposals that will affect many international visitors travelling to new zealand .

visit our tourism research hub for data and analysis on domestic and international tourism in nz .

we ' ve given the science and innovation portal on our website a refresh , making it easier to navigate and find information .

jobs online measures changes in job vacancies advertised on the two main internet job boards - seek and trade me jobs . it is published each month .

we are interested in hearing from new zealanders about the issues we are working on .

the ministry of business , innovation and employment ( mbie ) has prepared to deal with industrial action from public service association ( psa ) members today .

two companies , which operated as domino’s pizza franchises in auckland , have been penalised $ 32 , 400 for serious breaches of employment law , following a labour inspectorate investigation .

a whangarei man has been prosecuted for doing work that should have been carried out by a licensed building practitioner ( lbp ) with carpentry and roofing licenses .

the ministry of business , innovation and employment ( mbie ) today announced $ 35 . 4 million over six years for three new strategic science platforms undertaking research to improve the performance of new zealand’s seafood , shellfish aquaculture , and hide and skin processing industries .

during the 14 november 2016 kaikōura earthquake , the statistics house building in wellington suffered a partial floor collapse . the ministry of business , innovation and employment ( mbie ) convened an expert panel to understand the factors that led to the partial floor collapse which was concluded in march 2017 .

keeping our staff and our communities safe around power is our highest priority . find out how we get everyone home safe , every day .

view information on key initiatives , forecast investments and long - term strategies for network asset management .

we’ve made this process easy . to get started choose the option below that best describes what you ' ll be doing .

we ' ve been serving the waikato for 100 years , distributing power from the national grid , connecting over 160 , 000 people to electricity services through 89 , 000 installation connection points .

based in hamilton , we play an essential role in the region ' s economic and social development by identifying and investing in new technologies that will modernise our network and future - proof our region . we’re excited to be broadening our horizons as we diversify from a traditional lines company into a multi - utility .

this is driving our company’s growth strategy and in recent years has seen us exploring not only new ways of ensuring our customers can receive safe and reliable energy but also expanding our commercial interests .

we ' re a major shareholder of ultrafast fibre limited and have shares in opunake hydro ; we ' ve installed fast charging stations across the region to encourage the uptake of electric vehicles , and we ' ve introduced energy efficiency projects such as smart meters , storage and solar power . and that ' s just the start .

everyone wants electricity available at the flick of a switch and that ' s what we try to give you . unfortunately , for various reasons , there are times when we can ' t supply electricity to your home or business so we have a customer promise .

if we can ' t restore your power within the guidelines , we ' ll pay on our promise .

do our best to restore power to hamilton city , huntly and ngaruawahia within three hours of an outage .

do our best to restore power to surrounding rural areas within six hours of an outage .

alert your power supply company of planned outages with at least ten days’ notice .

remember - safety is always our highest priority so we don ' t do any work that could harm our staff or community . if we need to , we’ll disconnect the power supply to complete the work safely .

think you might be entitled to a customer promise payment after an electricity outage ? contact us .

“we are now able to offer a range of a variety of stimulating and exciting activities , and the grant funding has enabled the resources to be purchased to support a range of activities to improve the holistic wellbeing of pacific communities . ”

“i learnt how to achieve or accomplish my short term and long term goals . " - kiwi can kid

the trust has opened a $ 400 , 000 vital impact grants round to target organisations , . . . read more

the official declaration of result of election has been released . . . read more

view more information here . there are currently no application fees for distributed generation connections of less than 10kw .

congestion occurs when localised oversupply of power into the network has the potential to create reversed power flows impacting safety and power quality .

by independent valuers , telfer young ( waikato ) ltd registered valuers using a comparable sales approach .

the group’s electricity distribution network was revalued as at 31 march 2016 to fair value by independent expert .

measurement . the valuation was prepared using discounted cash flow methodology . it is a level 3 valuation .

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it ensures we continue to provide a strong , safe , efficient , and reliable supply for our customers while reflecting our vision of enabling our communities to thrive .

the 2018 asset management plan covers the planning period from 1 april 2018 to 31 march 2028 and provides the latest information relating to our key initiatives , performance , forecast network and non - network investments and our long - term strategies for asset management .

the amp applies for the 10 year planning period from 1 april 2016 until 31 march 2026 .

the amp contains the information specified in the electricity distribution information disclosure . determination under part 4 of the commerce act , 1996 .

as at 31 march 2017 the group had a $ 5 million contingent liability in relation to a guarantee ( 2016 : $ nil ) .

high load management if you ' re relocating a house or heavy machinery , contact us to assist you and prevent undue damage to the network . we ' ll make sure all conductors are lifted or temporarily removed to ensure the road is clear . please note - this work is usually completed during the night when traffic is low .

24 hour first response and restorative second response to faults our first response technicians identify faults and put in place all necessary safety measures and fixes . if the fault is significant the second response team is then dispatched - for example , to assist in the replacement of a pole .

capital replacement or new capital works if you require ageing or damaged / irreparable assets to be replaced or need a new asset to be installed our technicians are fully trained and licensed to do so .

installation of thewaikato smart network project is nearing completion with almost all advanced meters now installed .

the group leases land , premises and vehicles . operating leases held over properties give the group the right to renew the lease subject

to a predetermination of the lease rental by the lessor . there are no options to purchase in respect of land and premises held under

all subsidiaries have balance dates of 31 march and are incorporated in new zealand . the parent company has a 100 % direct interest

who both retired in september 2014 . all of these persons were also directors during the year ended 31 march 2014 , except for b s harris

the directors and key management personnel compensation for the years ended 31 march 2015 and 31 march 2014 is set out below .

the weighted average effective tax rate was 31 % ( 2014 : 28 % ) .

the company is a limited liability company incorporated in new zealand . the address of its registered office is 114 maui street , hamilton .

these consolidated financial statements have been approved for issue by the board of directors on 29 may 2015 . once issued the entity’s

the principal accounting policies applied in the preparation of these consolidated financial statements are set out below . these policies

amendments to ensure the standards appropriately reflect the legislative changes . the amendment impacts various accounting standards ,

including nz ifrs 7 and the definition of a deposit taker , nz ias 1 and references to the financial reporting act 1993 .

result in a material impact on the group’s or company’s financial statements . the following new standards are applicable to the group :

from an entity’s contracts with customers . revenue is recognised when a customer obtains control of a good or service and thus has the

ability to direct the use and obtain the benefits from the good or service . the standard replaces nz ias 18 ‘revenue’and nz ias 11

earlier application is permitted . the group intends to adopt nz ifrs 15 on its effective date . this standard is not expected to significantly

additions of distribution system cost includes $ 631 , 000 ( 2014 : $ 169 , 000 ) of interest capitalised at an average borrowing rate of 4 . 92 % .

registered valuers . buildings are recorded at purchase price following the acquisition in october 2012 .

the company’s electricity distribution network was revalued as at 31 march 2013 to fair value by deloitte . the fair values were established

in accordance with nz ias 16 - property , plant and equipment and subsequent years ifrs 13 fair value measurement . the valuation was

prepared using discounted cash flow methodology . this valuation was reviewed by deloitte at 31 march 2015 to ensure it still represented

electricity distribution prices , operating and capital expenditure associated with existing assets , and the discount rate .

for inquiries related to this message please contact support . for sales inquiries , please visit urltoken

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the company undertakes transactions with entities in which directors have disclosed an interest in the normal course of business .

other than the payment of directors fees ( refer note 6 ) the group has not entered into any transactions with directors .

no dividends have been paid during the year ( 2014 : $ 10 . 0 million ) .

at the 31st of march 2015 uff owed $ 7 . 058 million townl . included in this is $ 3 . 9 million accrued connection assets which were

it has a certain number of design limitations , but fully represents the content .

of any previous equity interest in the acquiree over the fair value of the identifiable net assets acquired is recorded as goodwill . if the total of

of the subsidiary acquired in the case of a bargain purchase , the difference is recognised directly in the income statement .

inter - company transactions , balances and unrealised gains on transactions between group companies are eliminated . unrealised losses are

also eliminated . when necessary amounts reported by subsidiaries have been adjusted to conform with the group’s accounting policies .

group’s share of the post - acquisition profits or losses and movements in other comprehensive income . when the group’s share of losses in a

joint ventures . unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred .

accounting policies of the joint ventures have been changed where necessary to ensure consistency with the policies adopted by the group .

transactions with the owners in their capacity as owners . the difference between fair value of any consideration paid and the relevant

share acquired of the carrying value of net assets of the subsidiary is recorded in equity . gains or losses on disposal to non - controlling

is carried at cost by the parent entity . under the equity method , the share of profits or losses of the joint venture is recognised in the

statement of comprehensive income , and the share of movements in reserves is recognised in reserves in the balance sheet .

the parent and the consolidated entity are designated as profit oriented entities for financial reporting purposes .

environment in which the entity operates ( ‘the functional currency’ ) . the consolidated and parent financial statements are presented in

new zealand dollars , rounded to the nearest $ 1 , 000 , which is the company’s functional and presentation currency .

rob has over 30 years’ experience in investment management and corporate governance . he is currently the chair of tourism holdings limited , summerset group holdings limited and skycity entertainment group . he is also a director of precinct properties limited and various substantial private companies based in australia and new zealand . in addition , rob is a director of , or advisor to , a number of hedge and private equity funds in several countries . he trained as an economist and has worked in a variety of capital market advisory and governance roles over a long period . rob was appointed to the board in june 2017 .

barry has extensive governance and executive experience . he is currently the chair of new zealand food innovation ( waikato ) limited and mcfall fuels limited . barry is also a director of dairynz , dexcel limited , tb free new zealand limited , national animal identification and tracing ( nait ) limited , te awa river trust trustee and ospri ( formerly animal health board ) . throughout his career , barry has held a number of chief executive roles , including for environment waikato , greater wellington regional council and hamilton city council . he was also a senior executive with fonterra for five years . some of barry’s previous directorships include centreport , rd1 , international nutritionals , hamilton riverside hotels and local authority shared services . barry was appointed to the board in october 2014 .

tony has had an extensive career in professional practice as a chartered accountant specialising in business advisory services . since retiring from kpmg tony has accepted appointments as an independent director of several local private companies including maisey group limited . tony has been an independent director and chair of maisey group limited since 2002 . he also sits on the boards of several subsidiaries of maisey group limited in both new zealand and australia . tony is a fellow of both the institute of directors and chartered accountants australia and new zealand . tony was appointed to the board in october 2010 .

carolyn has substantial experience in capital markets , mergers and acquisitions and investment management . she is currently a director of metlifecare limited , green cross health limited and halberg disability sport foundation . carolyn is also a trustee of the new zealand football foundation and previous director of datacom group limited . until 2016 , carolyn was a portfolio manager at guardians of new zealand superannuation , the crown entity that manages the new zealand superannuation fund . prior to joining the guardians in 2010 , carolyn spent ten years in investment banking at forsyth barr and credit suisse / first nz capital . carolyn was appointed to the board in june 2017 .

geoff has 36 years of experience in the technology industry in new zealand and overseas . he is currently the chair of auror limited and a director of howard & company and te tira toi whakangao . he is also a beachheads advisor to new zealand trade & enterprise , and a board trustee of the valens group charitable trust . geoff has previously held directorships with ngai tahu farming and pivot software limited , and was the first elected chairman of the industry body nz tech . geoff was appointed to the board in june 2018 .

tony has 30 years’ broad business experience in the utilities , media , hr services , technology and cyber security sectors in new zealand , australia and the uk . tony is currently ceo of it security specialist cyber research group ltd . he has previously served as ceo of lse - listed smart metering pioneer bglobal plc , utility market software company utilisoft , electricity retail outsourcer mbcglobal , and as coo of asx - listed hr services provider chandler macleod group . tony is a certified information systems security professional ( cissp ) and is a member of the australian institute of company directors . tony was appointed to the board in june 2018 .

carolyn has extensive executive and commercial experience across a range of industries including telecommunications , media and technology . she is currently an independent director of ziera shoes nz limited and the general manager of enterprise solutions and new zealand at myob group ltd . carolyn is also on the advisory board for nz asian leaders . throughout her career , carolyn has grown her governance experience through a range of directorships , including for the chinese nz herald , nzme and mercury nz limited ( formerly mighty river power limited ) . she is a chartered member of the institute of directors and was a key member of the leadership team that transformed three businesses into nzme . carolyn was appointed to the board in june 2018 .

keith is a chartered accountant in practice in auckland and is primarily a professional director sitting on the boards of companies involved in the energy , health , distribution , trades ( in both australia and new zealand ) and hospitality sectors . keith has had a lengthy experience in the technology sector having chaired one of new zealand’s first isp’s , ihug ltd and was subsequently appointed deputy chair of asx listed iinet pty ltd . following his resignation from iinet he joined the board of callplus / slingshot until it was sold in 2015 . keith also acts as an expert witness in the high court and family court on commercial and family matters and has held high court appointments . keith has been an ultrafast fibre director since april 2017 .

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kessel food markets was an american supermarket chain based in michigan .

it began in 1981 when owosso , michigan native al kessel , a former executive vice president of hamady brothers supermarkets , purchased kroger locations in corunna and saginaw .

kroger closed these stores due to michigan 's poor economy at the time , and failure to reach union agreements .

after kroger closed all five of its flint locations in 1982 for the same reasons , kessel purchased them as well , followed by 13 hamady stores after that chain filed for bankruptcy in 1991 .

at its peak , kessel food markets comprised 24 stores .

kessel filmed his own television commercials for the chain , in which he would throw items into a grocery cart and state , " save at kessel this week .

why ? because we 're with you . "

the kessel chain was frequently targeted by workers ' unions in saginaw .

by 1999 , four of the kessel stores had been converted to save-a-lot or closed , while the rest were sold to kroger , which briefly continued to operate them under the kessel name before converting them .

kessel 's company , kessel enterprises of grand blanc , michigan , continued to operate the save-a-lot stores and local pet supplies plus stores .

kessel died december 28 , 2012 at age 74 of esophageal cancer , in naples , florida .

kessel food markets

kessel food markets <EOT> al kessel films one of his television commercials for kessel food markets . kessel died friday , dec . 28 at 74 .

grocer al kessel died friday , dec . 28 at a hospice facility in naples , fla . he was 74 . kessel started kessel food markets and grew the company to 24 stores before selling it to kroger .

rudy ' s provided an unbelievable array of food for a backyard party - - see photo . quality of food is superb !

grand blanc , mi – al kessel created the largest flint - based grocery chain that included more than 20 stores and employed 2 , 000 people before he sold kessel food markets to kroger in 1999 .

kessel started his chain when he opened three stores in the early 1980s and grew kessel food markets to 24 stores in flint and saginaw . he sold 20 of his stores in flint and saginaw in 1999 to kroger . the 2 , 000 employees kept their jobs .

cincinnati - - kroger co . here said it has reached an agreement to purchase flint , michigan - based kessel food markets , a family operation with stores primarily in flint and saginaw , michigan . the transaction , which includes 20 stores , opens new markets for the livonia - based michigan kroger marketing area , which currently does not have operations in flint or saginaw , gary rhodes , spokesman , told sn . " kroger

united food and commercial workers local 951 , a grand rapids - based union , launched a drive in april 1998 to organize 2 , 000 kessel employees at more than 20 stores in genesee and saginaw counties .

i love supporting this local store ! the staff is super friendly and knowledgeable . they take pride in what they do and even carry your dog ' s food o…

in 1999 , kessel sold 20 stores to kroger and kessel ' s 2 , 000 employees had the opportunity to stay on with kroger .

al kessel prepares to shoot a commercial in the grand blanc kessel store in this file photo from 1999 . he continued to make commercials for kroger after he sold his stores . kessel died in florida friday .

check urltoken for additional updates . click here for all our coverage of kessel .

union officials also accused kessel of intimidating employees at times , a claim which he denied .

a native of owosso , kessel and his wife colette still have a home in grand blanc .

knight was working for kroger in caro when he went to one of kessel ' s original stores in saginaw . considering leaving kroger , knight wanted to see what kind of leader kessel was .

the information about some saginaw stores is wrong . it should be like this . * * 3355 holland was a ray ' s food fair , then a giant , then a kessel and is currently a save - a - lot . * * 3805 n . michigan was also a ray ' s food fair , followed by a giant , followed by a kessel , followed by a save - a - lot which is what it is now . it was never a family dollar . * * 5700 state was actually closed in 2008 , not 2007 . it was a ray ' s food fair , then a giant and was remodeled as a giant before kessel bought the giant chain out , followed by kroger buying the kessel chain out . the greenhouse was used for offices , the entrance to the store and the customer service desk , it was never used as an actual greenhouse . * * 4675 bay rd . not 3437 bay rd . is now a goodwill . also when ocb opened it did not effect the grocery store at all . * * 2490 tittabawassee this store was always a kessel and never a kroger , also the part where hobby lobby is located was never part of the store , that was a phar - mor before kessel even re - located there . it closed not long after kroger ' s buyout of kessel as a kessel . * * 321 n . michigan this was never a kroger or a kessel , this was an arbor drugs and then a cvs pharmacy after cvs ' s buyout of arbor , the store next door to it use to be a hollywood video . save - a - lot opened after cvs shuttered their saginaw area stores .

one of the union ' s spokeswoman claimed at the time that kessel overworked and underpaid his employees .

the sale did not include kessel - owned pet supplies plus outlets of his save - a - lot grocery stores . those stores still operate under kessel enterprises , which is headquartered near his grand blanc home .

knight was impressed and left kroger to work for kessel – including 11 years at the grand blanc store .

kessel ' s funeral will be jan . 5 at hill funeral home , 11723 s . saginaw st .

television commercials with kessel detailing that week ' s deals would feature the jovial man tossing the items in a cart and ending with " save at kessel this week . why ? because we ' re with you . "

the sale did not affect four kessel stores that were converted to save - a - lot stores or closed .

kessel died friday , dec . 28 , at a hospice facility in naples , fla . he was 74 .

* * 5700 state was formerly ray ' s food fair and later giantway , later a kroger with all - caps signage , closed 2007 when kroger moved to a new store ( former a & p / farmer jack ) . i find it strange that although this was giantway into the 1990s , it

television commercials with kessel detailing that week ' s deals would feature the jovial man tossing the items either in a cart or off camera and ending with " save at kessel this week . why ? because we ' re with you . "

kessel bought those stores in 1982 and expanded his collection of stores in 1991 when he acquired 13 hamady stores through u . s . bankruptcy court . the deal left kessel with 20 stores , making it the largest flint - area grocery chain .

as a footnote , al kessel was a former executive at flint - based hamady stores , which went under in 1991 .

kessel sold 20 of his stores in flint and saginaw in 1999 to kroger . the 2 , 000 employees kept their jobs .

grand blanc , mi – grocery store owner al kessel would close each of his commercials with " we ' re with you . "

a family spokesman said kessel had been diagnosed with esophageal cancer 15 months ago and died at a naples hospice facility . he was 74 .

* * 2629 w . pierson rd . being the former yankee , later tradeway and hills . hills closed in 1991 , not long before the aforementioned kessel burned down . this store became kessel and remains open as a kroger , looking much like a former hills on the front .

kessel was known for his personable style and amusing commercials . he would detail that week ' s deals and the jovial man would toss the items in a cart or off camera and would close with " save at kessel this week . why ? because we ' re with you . "

watch a youtube video of one of his weekly commercials below . check urltoken for additional updates . click here for all our coverage of kessel .

in 1999 , he sold his 20 stores to kroger and kessel ' s 2 , 000 employees had the opportunity to stay on with kroger .

* fenton had a kessel at 1236 n . leroy st . i don ' t know what it looked like as a kessel , but my first guess is " former kroger . " the building was torn down in the early 2000s for a strip mall including a subway and a dollar general .

, is obviously a former corner - entry kroger . kessel closed this store in 2000 , and it ' s now a save - a - lot .

grand blanc , mi – grocery store magnate al kessel , known for his personable style and amusing commercials , died friday morning , dec . 28 , in florida .

i have found that all the kessel stores were in the flint , saginaw and bay city areas . i distinctly recall most of them reverting to kroger over time .

he cared for his employees and was always willing to help the ones who may have been struggling financially , according to friends and those who used to work for kessel .

" he ' s going to be missed , " said wife colette kessel . " he ' s just an amazing man , but couldn ' t conquer the cancer . "

* * 1563 e . pierson rd . was also a hamady . it was vacated in 1996 when kessel moved to the location below , and 13 years later it ' s

he died friday dec . 28 at a hospice facility in naples , fla . kessel was 74 . he had been diagnosed with esophageal cancer 15 months ago , a family spokesman said .

kessel opened two former kroger stores in saginaw and one in corunna in the early 1980s . he had previously been vice president of the now - defunct flint - based hamady bros . grocery chain .

" he took care of the people the way he would want to be taken care of , " said richard knight , who worked for kessel for 29 years . " he went over and above . "

since reagan , the anti union forces have been telling the nit wits all the evils of workers unions . i seen it in union cities , here in saginaw michigan , there were union kroger stores before reagan took office . after reagan was elected kroger made a deal with al kessel to buy out the area ' s kroger stores thus tying the unions hands because kessel stores weren ' t unionized and because krogers sold out nothing could be done for union workers , who either stayed at their jobs with reduced wages and no benefits or they lost their jobs . it was a vast scam as the " new " kessel stores sold kroger brand foods , the non union kroger stores in ohio remained open . all efforts to unionize kessels failed , the former union workers tried but kessl said if they unionized he was closing the stores , the unions couldn ' t muster up enough support with the non union workers to pass a union also . this went on until 2000 . then after the 2000 elections all of a sudden kessel sold all of the kessel stores back to krogers and today they are all back under the kroger name without unions [ … ]

* * 4841 clio rd . was probably a former hamady given that it shared a plaza with a yankee . the store burned down in the early 1990s and was never rebuilt , as kessel reopened in the former yankee at the other end…

" he sent me to the super bowl , so i think he kind of liked me , " knight said of super bowl xxvi in minnesota in 1992 . " that was fantastic . i enjoyed every minute working for al kessel and his family . "

* and finally , swartz creek was kessel until the early 2000s , when a brand - new kroger opened on the other side of town . it was split between pet supplies plus and save - a - lot , the latter of which closed in 2007 .

in september 1998 , 125 labor leaders and supporters marched on kessel headquarters , asking him to sign a pledge to allow the union to distribute its organizing literature freely in company stores . the pledge would have also given union representatives access to employee meetings in the stores .

as a kessel . it was obviously a former 1970s kroger superstore in this pic . it ' s kroger again , with the kroger sign in all - caps . this is a corner - entry store with the corner entry on the right , next to a kmart .

* * g - 5186 fenton rd . opened ca . 1996 in what was formerly known as the 23 market , a three - store chain which also had locations in burton ( vacant , not sold to kessel ) and flushing ( see below ) . this lives on as a

" al was a larger than life person , not only in stature , but in personality , " said linda gobler , president and ceo of michigan grocers association , where kessel was a board member for 10 years . " he really was a wonderful individual and i ' m saddened to learn of his death . "

* * 3437 bay rd . is a former corner - entry kroger superstore ( right corner ) . at some point , perhaps around the same time it became kessel , an old country buffet was built right next door . ocb took over the corner entry , and a new entry was cut in the middle of the store . this store closed in the early 1990s and relocated to the below location . michaels arts & crafts took this store over until last year , when it also moved .

krogerclerk wrote : kroger created a distribution partnership called foodland distributors by spinning off the detroit area warehouse to a limited partnership with several detroit area supermarkets , including kessel ' s . super kmarts in the the area were supplied by the warehouse from the 90 ' s until the partnership was dissolved with the kessel ' s acquisition . i ' m pretty certain that great scott ! ( allied ) was also supplied by foodland distributors and was also acquired by kroger after a & p acquired farmer jack . i don ' t know if chatham ever used foodland distributors , or if it was spartan supplied . i believe carter ' s and some other michigan chains used foodland distributors as well . this is one of the reasons that kroger brands were sold in non - kroger stores in michigan . kmart even sold rocky top cola , a bluefield beverage product identical to big k colas as its house brand soda prior to switching to fleming as its wholesaler ( fleming was a national contract however replacing the various wholesalers supplying kmarts around the country ) . as for non - union stores in ohio , i ' m pretty sure every store in ohio is unionized , as the lack of concessions and low market share led to kroger completely leaving northeast ohio , as well as the pittsburgh market . the only other well documented union showdown in that time frame happened in defiance , oh which is a kroger sav - on that closed temporarily only to reopen . the kroger stores in baton rouge , la were closed as a result of a strike , during this same timeframe , and were sold to a & p who re - opened them as non - union stores . without moving further off topic , kroger did open some non - union stores within its existing marketplace to send the point to the unions that stores could be operated with or without them ( mainly in right to work states in the south ) . in the case of both acquisitions of great scott ! and kessel ' s many stores returned to kroger ownership . in the case of great scott ! , the stores were unionized , but kessel ' s as you stated weren ' t . the deal enabled to kroger to remain in the detroit market and eventually survive the decline of what competition wasn ' t acquired - chatham ' s and a & p / farmer jack , and the expansion of meijer into southeastern michigan , leaving kroger and meijer as the two major chains in the detroit region .

the corunna store was later converted to a save - a - lot outlet .

kroger closed the stores in 1981 after it couldn ' t get concessions from the flint - based local that represented workers . it also cited michigan ' s poor economy and the cost of the doing business in the state as reasons for closing the stores .

similar reasons were given when kroger closed all five of its genesee county stores later that year .

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in january 1999 , union organizers in saginaw and buena vista townships mailed thousands of fliers warning residents of " unsanitary conditions " at multiple stores .

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the only reason i do not rate this place a 5 is their choices in olive oil sales ! they do not carry carothers ' olive oil . carothers ' is not only the…

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illinois , indiana , iowa , kansas , kentucky , michigan , minnesota , missouri , nebraska , north dakota , ohio , south dakota , and wisconsin .

in 1981 , it seems there was a union issue regarding kroger in michigan . according to one

* bay city — this one opened in 1992 in a former giantway . it is currently a kroger , seen

, with allcaps signage . big lots took over the former ray ' s family center , which was basically a small discount store often attached to giantway stores .

* bridgeport — also a former giantway / ray ' s family center . according to

loopnet listing , the building is vacant , having received a new parking lot in 1997 . the tail end is now a family dollar .

* * 1200 e . bristol rd . was demolished , along with an adjacent former perry drug / rite aid , for a new - build kroger early in the decade . i ' m quite familiar with this store , as my aunt lives behind it .

as a save - a - lot . note the weird " peak " jutting out of the greenhouse windows .

* davison ' s store was a former hamady , and i think a yankee discount store before that . this was a kroger until a new store opened downtown maybe 6 years ago . it ' s seen

, looking like absolutely no kind of kroger whatsoever , although i remember it having the glass " peak " like corunna . the south half of the store became a dollar general and is now a goodwill store , and the north half is still vacant .

, is now a very small kroger . i have no idea what this opened as ; it doesn ' t resemble any kroger prototype i ' ve seen .

* * g - 5249 corunna rd . was a former hamady , also now a kroger . it ' s a strange , small building with

kroger . ( oh , and the 23 ? right behind this store is the 23 drive - in , itself named for the fact that fenton rd . used to be us - 23 . )

rite aid has opened a new store in the parking lot , replacing the vacant former perry at the back of the old grocery store .

* * 1542 e . pierson rd . is a former 23 market . it

* grand blanc also carries on as a kroger , with the " peak " as well ; the greenhouse has been removed . i have mentioned before that this store was a demo / rebuild or extreme remodel of a 1970s corner - entry store attached to a small mall .

is that it is evidently an expansion of a former corner - entry store . the corner entry is obvious but bricked over .

* * 3355 holland is a former giantway . it has been cut up into several stores , including a save - a - lot . this store is located behind the now - closed fort saginaw mall .

* * 3805 n . michigan is also a former giantway . it , too , is a save - a - lot ( and a family dollar ) .

. it , too , was closed when the new store opened at the former a & p site in between this and 5700 .

* * 2490 tittabawassee is a relocation of the above store , opened in the early 1990s . it looks a

, having been converted to that name ( with all - caps signage ) for a couple years . after it closed , hobby lobby took over the east half .

* * 321 n . michigan is also a former corner - entry kroger , also currently a save - a - lot .

the nkroger in defiance , oh was part of the indiana marketing area and union barging uniy . now they ae are apart of local 75 { toledo 911 before that ) out of cinci and still in the indiana marketing area

thanks for filling in some of the history regarding unions ! despite the fact that a large portion of my family works for gm , i could never make heads or tails of the whole union thing . i barely even know what one is . as for the architecture of these stores , did kroger ever use a " spire " like pictured in the corunna store ? it seems to mesh with the greenhouse windows pretty well . and what could the davison road store have been in a previous life ? it sure doesn ' t look krogerish .