FINANCIAL EFFECTS OF THE ACQUISITION. The tables illustrating the effects of the Acquisition on the (i) net tangible asset per share of the Company (assuming the Acquisition had been completed at the end of the financial year ended 28 February 2011 (“FY2011”); and (ii) the losses per share of the Company (assuming that the Acquisition had been completed at the beginning of FY2011) based on the audited financial statements of the Company for FY2011, are set out below:
FINANCIAL EFFECTS OF THE ACQUISITION. The proforma financial effects of the Acquisition on the Company are set out below. The proforma financial are theoretical in nature and only for illustrative purposes, they do not represent the actual financial position and/or results of the Company’s operations after the completion of the Acquisition and are not indicative of the future financial position and earnings of the Company.
FINANCIAL EFFECTS OF THE ACQUISITION. The tables illustrating the effects of the Acquisition on the (i) net tangible asset (“NTA”) per share of the Company (assuming the Acquisition had been completed at the beginning of the financial year ended 31 May 2021 (“FY2021”); and (ii) the earnings per share of the Company (assuming that the Acquisition had been effected at the beginning of 1 June 2020) based on the audited financial statements of the Company for FY2021, are set out below:
FINANCIAL EFFECTS OF THE ACQUISITION. The table below sets out the audited net assets, sales, earnings before interest, tax, depreciation and amortisation (“EBITDA”) and normalised profit after tax (“Normalised PAT”) of SPAR Switzerland for the 12 months ended 31 December 2015 (being the date of the most recent audited financial statements). SPAR Switzerland selected audited financial results for the 12 months ended 31 December 2015 CHF (million) ZAR (million) Net Assets 144.9 2 247.9 Sales 824.3 12 787.8 EBITDA 27.7 429.7 Normalised PAT 7.4 114.8 Notes:
FINANCIAL EFFECTS OF THE ACQUISITION. As the Property is currently under construction and no part of the Purchase Price is payable until the conditions precedent stated in Paragraph 2.3 herein have been fulfilled (unless specifically waived), the entry into the Option Agreement is not expected to have any material impact on the net profits, net tangible asset per Unit and distribution per Unit of FCT for the current financial year. When the financing details for the Acquisition have been finalised, the details thereof and the financial effects of the Acquisition will be set out in the Circular.
FINANCIAL EFFECTS OF THE ACQUISITION. As at the date of this announcement the Group holds 49% of the equity interest in Ego Time through Maxx Investments. The Ego Time Group is therefore treated as associates of the Company and their results and assets and liabilities are accounted for using equity method. After completion of the Acquisition, Ego Time will become a wholly-owned subsidiary of the Company as its remaining 51% equity interest will then be owned by the Group through the acquisition of Success Pillar. The amount of impairment losses for pending trade receivables would depend on the outcome of recovery action taken by the Ego Time Group against XX Xxxxxx China and/or against ships which had been supplied by the Ego Time Group and had not paid for the bunker that had been supplied. On the most conservative basis, there will be a one-off impairment loss in the maximum sum of approximately HK$58.6 million, assuming all avenues of recovery have been exhausted up to Completion and zero recovery has been made. Of this maximum sum of impairment loss 51%, namely approximately HK$29.9 million, will be treated as pre-acquisition impairment provision attributable to Success Pillar for the period before completion. The Group will only share the remaining HK$28.7 million (i.e. 49% of HK$58.6 million) through equity method and reflected in the line of “share of profits (losses) of associates” in the consolidated statement of profit and loss and other comprehensive income of the Company. At Completion, the Group will be deemed to dispose of 49% equity interest in Ego Time at its carrying cost and then acquire 100% equity interest in Ego Time. The Ego Time Group will then become indirect wholly-owned subsidiaries of the Company and their accounts will be consolidated into the accounts of the Company. The deemed disposal of 49% equity interest in Ego Time and the Acquisition will be accounted for in accordance with HKFRS 3 “Business Combinations” issued by Hong Kong Institute of Certified Public Accountants. As the 51% consolidated net assets value of Ego Time Group attributable to Success Pillar is lower than the consideration to be paid by Maxx Investments, the Acquisition will also give rise to intangible assets and goodwill in the consolidated accounts of the Company. The actual gain or loss if any, and the intangible assets and goodwill created in the Company’s consolidated accounts as a result of the Acquisition and the deemed disposal to be recorded by the Group is subject to audit by the aud...
FINANCIAL EFFECTS OF THE ACQUISITION. Due to the Supplemental Agreement, the pro forma financial effects of the Acquisition have been recomputed herein. These pro forma financial effects are presented for illustration purposes only and are not intended to reflect the actual future financial situation of the Company after the completion of the Acquisition as amended by the Supplemental Agreement. Such pro forma financial effects have been computed based on (a) the audited consolidated accounts of the Group for the financial year ended 31 December 2014 (“FY2014”); and (b) the expenses incurred in relation to the Acquisition of approximately S$35,000. For the avoidance of doubt, such pro forma financial effects do not take into account (i) any corporate actions announced and undertaken by the Group subsequent to 1 January 2015; and
FINANCIAL EFFECTS OF THE ACQUISITION. The Acquisition will not have any effect on AFFIN’s share capital and substantial shareholders’ shareholding.
FINANCIAL EFFECTS OF THE ACQUISITION. The pro forma financial effects of the Acquisition have been prepared based on the audited financial statements of CCT for the year ended 31 December 2006 and taking into account the Purchase Consideration, as well as the assumption that the Acquisition is wholly funded by borrowings.
FINANCIAL EFFECTS OF THE ACQUISITION. The financial effects of the Proposed Issue of Purchaser Shares are presented for illustrative purposes only and are not intended to reflect the actual future financial performance and position of the Company or the Group after the completion of the Proposed Issue of Purchaser Shares.
