Rangatira Annual Report 2025 - Flipbook - Page 67
Annual Report 2025
Leases were predominantly from the Company’s subsidiaries. They were mostly for contracts relating to premises
used as part of the subsidiaries’ operations. These were deconsolidated at 30 September 2024 following the
Company’s conclusion of its investment entity status.
The following is a summary of the Company and its consolidated subsidiaries’ leases liabilities. The corresponding
right-of-use assets were recognised as part of property, plant and equipment - see note 20.
Balance at 1 April
Accretion of interest
Additions
Disposal of subsidiaries
2025
$000
2024
$000
64,492
65,605
2,795
4,859
144
-
-
(6,987)
Modifications
1,053
6,702
Lease payments
(3,172)
(5,687)
(65,024)
-
Balance at 31 March
288
64,492
Current
120
4,283
Deconsolidated at 30 September 2024
Non-current
168
60,209
Total lease liability balance
288
64,492
Note 24 Contingencies
The Company has no contingent assets nor any contingent liabilities at 31 March 2025 (2024: nil)
Note 25 Subsequent events
Dividends to shareholders of the Company
On 16 June 2025, the Board declared a partially imputed dividend of 51 cents per share. The dividend will be paid
to shareholders on 7 July 2025.
Shares issued under the Long Term Incentive Plan
This note should be read in conjunction with note 15 for clarity.
After the reporting period, the Company issued 9,124 ‘A’ class ordinary shares under its Long Term Incentive Plan.
The shares were granted to eligible employees as part of the Group’s long-term incentive plan, aimed at aligning
employee interests with shareholder value.
The shares were issued at $14.25 which was determined to be the appropriate price at the grant date. It was
equal to the share price of the shares issued in the capital raise in September 2022.
Sale of APC
On 4 June 2025 Rangatira completed the sale of all its shares in Auckland Packaging Company Limited (APC).
Previously APC was classified as a fair value investment at 30 September 2024, and prior to that, as a wholly
owned subsidiary. The transaction was finalised after the reporting period but before the financial statements
were authorised for issue. The estimated net proceeds were $4.4m subject to working capital adjustments.
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