FINANCIAL REPORT AND ACCOUNTS 2011 - States Assembly

NOTES TO THE ACCOUNTSNOTE 11: AVAILABLE FOR SALE INVESTMENTS HELD AT FAIR VALUE9.11 Note 11: Available for Sale investments held at Fair Value2010 2011£’000 £’000Strategic Investments: Equity SharesJersey Electricity plc 71,700 67,600Jersey New Waterworks Company Limited 20,200 20,200Jersey Telecom Group Limited 106,700 180,800Jersey Post International Limited 30,900 20,900Total Equity Shares 229,500 289,500Strategic Investments: Irredeemable Preference SharesJersey New Waterworks Company Limited 4,500 7,400Jersey Telecom Group Limited 20,000 29,500Total Preference Shares 24,500 36,900Total Strategic Investments 254,000 326,400Other Available for Sale investments held at Fair ValueHomebuyer Housing Property Bonds 8,531 8,190P7/2006 Housing Property Bonds 5,926 5,847Other – 29814,457 14,335Strategic Investment Holdings:Jersey Electricity plcThe States of Jersey holds all the ordinary shares in Jersey Electricity plc which represents approximately62% of the Company’s total issued share capital as at 31 December 2011 (86.4% of the total voting rights).Jersey Electricity plc also has ‘A’ shares in issue which are listed on the London Stock Exchange, and twoclasses of preference shares, which hold 3% of the voting rights.Jersey New Waterworks Company LimitedThe States of Jersey holds 100% of the issued ‘A’ Ordinary shares, 50% of the issued Ordinary shares and100% of the 7.5%–10% cumulative 5th Preference shares in the Jersey New Waterworks Company Limited asat 31 December 2011.In addition, Jersey New Waterworks Company Limited has 6 other classes of preference shares issued.101