Port Nelson Annual Report 2007 (pdf)

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S T A T U T O R Y I N F O R M A T I O N T o s h a r e h o l d e r s , o n t h e a f f a i r s o f P o r t N e l s o n L i m i t e d f o r t h e Y e a r E n d e d 3 0 J u n e 2 0 0 7 S H A R E H O L D I N G B Y D I R E C T O R S No Directors hold shares in the Company. U S E O F C O M P A N Y I N F O R M A T I O N During the year the Board received no notices from Directors requesting to use Company information received in their capacity as Directors that would not otherwise have been available to them. C O M M I T T E E S O F T H E B O A R D The Board has established a Finance and Risk Committee to assist the Board in carrying out its responsibilities under the Companies Act 1993 and the Financial Reporting Act 1993, and a Remuneration Committee. A U D I T O R S Under section 15 of the Public Audit Act 2001 and section 19 of the Port Companies Act 1988, the Auditor General is the Auditor of the Company. The Auditor General has appointed Audit New Zealand to undertake the audit on its behalf. Fees paid to the Auditors are disclosed in the Financial Statements. P E R F O R M A N C E I N D I C A T O R S As required under Section 16 of the Port Companies Act 1988, performance indicators in the Statement of Corporate Intent are given on page 21. D O N A T I O N S Donations made during the year are disclosed in the Financial Statements. E M P L O Y E E R E M U N E R A T I O N The Company has remuneration agreements including benefits with employees in excess of $100,000 per annum in the following bands: Remuneration Number of Employees 2007 2006 $100,000 to $110,000 3 3 $110,000 to $120,000 - 1 $120,000 to $130,000 3 2 $130,000 to $140,000 1 - $150,000 to $160,000 - 1 $160,000 to $170,000 1 - $190,000 to $200,000 - 1* $210,000 to $220,000 1* - $240,000 to $250,000 1 1 * Employee retired during year C H A N G E S I N A C C O U N T I N G P O L I C I E S There have been no changes in accounting policies during the financial year. Chairman of Directors For and on behalf of the Board Date: 7 September 2007 Director 2 0 The Statement of Accounting Policies and Notes to the Accounts on pages 26 to 42 form part of these Financial Statements.
S T A T E M E N T O F C O R P O R A T E I N T E N T M I S S I O N S T A T E M E N T • To operate the Company as a successful business providing cost efficient, effective and competitive services and facilities for port users and shippers. • To provide for the present and future needs of the Company in ways that are sensitive to people, use resources wisely, and are in harmony with the environment of an export port. O B J E C T I V E S 1. To operate as a successful business. 2. To be a good employer. 3. The debt equity ratio not to exceed 66.67% (40/60). 4. To aim to grow the business through stimulation of throughput, added value services and related business activities, so leading to increased revenue. 5. To achieve a commercially acceptable rate of return on shareholders’ funds in accordance with meeting the objectives herein. 6. To ensure that Port development takes place which meets the needs of the region. 7. To ensure that adequate environmental standards are maintained. 8. To strive for continuous improvement in everything that we do. M E A S U R E O F P E R F O R M A N C E A G A I N S T O B J E C T I V E S The 2005 figures are not comparable with 2006 and 2007 as the 2006 and 2007 financial information was prepared in accordance with NZ IFRS. Target 2007 2006 2005 Target Met? Lost Time Injury Frequency Rate *
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Port Nelson Annual Report 2007 (pdf)

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