NZ Windfarms Limited ("NWF") advises that the Bank of New Zealand ("BNZ")
guarantee in favour of Powerco Transmission Services Limited ("Powerco"), as
referred to on page 39 of the Annual Report for the year ended 30 June 2016,
will be renewed for twelve months from expiry of the existing guarantee to 30
November 2017. The guarantee will be for $9,220,000.
This guarantee is a requirement of the line services agreement with Powerco,
and supports the obligations of NZWL - TRH Limited (a subsidiary of NWF)
under that agreement.
The guarantee will be secured by way of existing security interests over the
present and after-acquired property, of NWF and its subsidiaries, including
first mortgages over the Group''s land and a specific security interest over
cash deposited with BNZ.
ENDS
For further enquiries contact:
Derek Eades
Chief Financial Officer
Ph (021) 936 353
End CA:00290410 For:NWF Type:GENERAL Time:2016-10-06 14:16:19