Air New Zealand 2013 Annual Report Download - page 45

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Air New Zealand Annual Financial Results  43
. ISSUED CAPITAL CONTINUED
Application of treasury stock method
Share repurchase
On 28 September 2012 the Group announced an on-market share buyback programme with the intention to acquire up to 3% of its
Ordinary Shares. During the year ended 30 June 2013 the Group acquired treasury stock of 8,767,702 shares for $11 million. The total cost
of the share buyback including transaction costs has been deducted from Capital. Shares acquired under the share buyback are held as
treasury stock and may be used for the purposes of fulfilling obligations under employee share-based compensation plans.
Staff Share Scheme
Unallocated shares of the Air New Zealand Staff Share Schemes are accounted for under the Treasury Stock method, and deducted from
Ordinary Share capital on consolidation. The number of unallocated shares as at 30 June 2013 was 93 (30 June 2012: 93).
Kiwi Share
One fully paid special rights convertible share (the Kiwi Share) is held by the Crown. While the Kiwi Share does not carry any general Voting
Rights, the consent of the Crown as holder is required for certain prescribed actions of the Company as specified in the Constitution.
Voting rights
On a show of hands or by a vote of voices, each holder of Ordinary Shares has one vote. On a poll, each holder of Ordinary Shares has one
vote for each fully paid share.
All Ordinary Shares carry equal rights to dividends and equal distribution rights on wind up.
. CAPITAL COMMITMENTS
GROUP

M
GROUP

M
COMPANY

M
COMPANY

M
Aircra and engines 2,080 2,324 2,049 2,272
Other property, plant and equipment and intangible assets 12 2 12 2
2,092 2,326 2,061 2,274
Commitments shown are for those asset purchases commied and contracted for and converted at the year end exchange rate.
The Group has a contractual commitment to acquire nine Airbus A320 aircra and associated engines. The aircra will be delivered
between July 2013 and November 2015. Under the agreement the Group secured the right to purchase up to an additional eleven aircra.
The Group has a contractual commitment to acquire four ATR72-600 aircra. The aircra subject to firm commitments are scheduled for
delivery between November 2013 and January 2016.
The Group has a contractual commitment to acquire ten Boeing 787-9 (B787-9) aircra and associated engines and spares. The B787-9
aircra that were subject to firm commitments are scheduled for delivery between July 2014 to October 2017.
Notes to the Financial Statements (Continued)
As at 30 June 2013