FINANCIAL EFFECTS OF THE TRANSACTION. 6.1 As the New Company has not been incorporated and the Contribution Amount has not yet been determined, the financial effects presented in this paragraph 6 are based on the disposal of the Land and the Above-Ground Structures. It is expected that the value of the Equity Interest will be similar to the aggregate of the value of the Land and the Above-Ground Structures and the Contribution Amount as the New Company, which will be newly formed, will not have any other assets or liabilities.
6.2 Based on the audited consolidated financial statements of the Group for the financial year ended 30 June 2011 ("FY2011"):
(a) the book value and net tangible asset value of the Land and the Above-Ground Structures as at 30 June 2011 was approximately S$10,220,000;
(b) there are no net profits attributable to the Land and the Above-Ground Structures as they are presently unutilised and do not generate any profit. The amount of gain upon completion of the sale of the Land and Above-Ground Structures is approximately S$21,608,000.
6.3 Based on the valuation report dated 2 August 2011 in respect of the valuation of the entire Langfang Development Zone conducted by Chesterton Suntec International Pte Ltd ("Valuation"), the value placed on the Land and the Above-Ground Structures was approximately S$10,220,000 as at 30 June 2011. The Company commissioned the Valuation, which included a valuation of the entire Langfang Development Zone, for accounting purposes for FY2011. The Valuation was conducted:
(a) in respect of land, on the basis of direct comparisons with recent transactions in the vicinity (including comparison with residential land prices within the vicinity with regard to residential land), after adjusting for differences in location, size, time and other material factors in determining land; and
(b) in respect of the value of the properties, based on the current construction prices in the PRC, and an estimation of the amount of depreciation and obsolescence.
6.4 The excess of the proceeds from the sale of the Land and Above-Ground Structures (after taking into account transaction costs) over the book value of the Land and the Above-Ground Structures (net of estimated income tax) is equivalent to approximately S$19,763,000 (the "Excess"). The actual amount of income tax payable has not been finalised with the relevant authorities. The income tax amount that may eventually be finalised may be higher or lower than the estimated income tax utilised to calculate the ...
FINANCIAL EFFECTS OF THE TRANSACTION. 7.1 The excess of the net proceeds from the exercise of the Put Option (after taking into account transaction costs and estimated income tax) over the book value of the Land and Property, based on the Exercise Price, is equivalent to approximately S$27,377,000. The Company intends to utilise the proceeds for re-investment into the core education businesses of the Group, as stated in paragraph 3 above.
7.2 The net loss attributable to the Land and Property is approximately S$1,792,000 for FY2013. The estimated amount of gain on disposal of the Land and Property is approximately S$27,377,000.
7.3 The financial effects of the exercise of the Put Option have been prepared based on the audited consolidated financial statements of the Group for FY2013 and based on the following assumptions:
(a) for the purpose of computing the financial effects of the exercise of the Put Option on the net tangible assets (the "NTA") per ordinary share of the Company (“Share”), the exercise of the Put Option is assumed to have been completed on 30 June 2013; and
(b) for the purpose of computing the financial effects of the exercise of the Put Option on the earnings per Share ("EPS"), the exercise of the Put Option is assumed to have been completed on 1 July 2012. Effect on the NTA per Share for the financial year ended 30 June 2013 Before the Put Option Exercise After the Put Option Exercise NTA (S$'000)(1) 425,380 447,556
FINANCIAL EFFECTS OF THE TRANSACTION. The financial effects of the Transaction on the Group, shown for illustrative purposes only and not necessarily reflecting the exact future financial position and performance of the Group immediately after completion of the Transaction, have been calculated using the latest audited consolidated financial statements of the Group for the financial year ended 31 March 2021 and assuming that 80% of the issued and paid up share capital of mm Connect is sold to the Purchaser under the Transaction.
FINANCIAL EFFECTS OF THE TRANSACTION. The pro forma financial effects of the JV 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 JV.
(a) the financial effects of the JV on the net tangible assets (“NTA”) per Share of the Group are computed assuming that the JV was completed on 31 December 2022; and
(b) the financial effects of the JV on the earnings per Share (“EPS”) of the Group are computed assuming that the JV was completed on 1 January 2022.
(i) NTA per Share
(ii) EPS per Share
FINANCIAL EFFECTS OF THE TRANSACTION. The increase in paid up capital of AMSM and the Transactions will be funded from the proceeds of the rights issue completed in October 2010. The Transactions are not expected to have any material impact on the earning or net tangible assets value of the Company and the Group for the current financial year ending 31 December 2011.
FINANCIAL EFFECTS OF THE TRANSACTION. The Transaction does not have material effects on the share capital and substantial shareholdings, net assets per share, earnings and gearing of the Company.
FINANCIAL EFFECTS OF THE TRANSACTION. In compliance with the Company’s accounting policies and based on the unaudited proforma management accounts of Scantrans, the Subscription and Acquisition will give rise to a goodwill of approximately S$2.27 million. This is based on the assumption that the subscription and acquisition was completed on 31 December 2006. Purely for illustrative purposes only and assuming the Subscription and Acquisition had been completed on 31 December 2006, goodwill on the subscription and acquisition is as follows :- Cost of Investment (S$’000) 3,180 Less: Net assets acquired (S’000) 907 Goodwill on Subscription and Acquisition (S$’000) 2,273
(a) Net Tangible Asset ("NTA") per Share For illustration purposes only, the pro-forma financial effect of the Proposed Acquisitions on the NTA per Share of the Group for the financial year ended 31 December 2006, assuming that the Proposed Acquisition had been effected as at 31 December 2006 would have been as follows:- NTA as at 31 December 2007 (S$'000) 64,285 Pro-forma NTA as at 31 December 2007 (S$'000) (1) 62,012 NTA per share as at 31 December 2007 (cents) (2) 14.64 Pro-forma NTA per Share as at 31 December 2007 (cents) (3) 14.12 (Decrease) in NTA per Share (cents) (0.52)
(1) Pro-forma NTA as at 31 December 2006 is computed based on the Group's NTA of approximately 64.3 million as at 31 December 2006..
(2) Based on the Company's issued share capital of 439,222,000 ordinary shares as at 31 December 2006.
(3) Based on the Company's enlarged issued share capital of 439,222,000 ordinary shares as at 31 December 2006.
(b) Earnings per Share For illustration purposes only, the pro-forma financial effect of the Subscription and Acquisition on the EPS of the Group for FY2006, assuming that the Subscription and Acquisition had been effected as at 1 January 2006, would have been as follow: Net profits after tax for FY2006 (S$'000) 3,819 Pro-forma net profits after tax for FY2006 (S$'000) (1) 3,355 FY2006 EPS (cents) (2) 0.76 Pro-forma FY2006 EPS (cents) (3) 0.66
FINANCIAL EFFECTS OF THE TRANSACTION. Since Shenzhen Merchants controls the majority of the board of directors of the JV Company, and the voting rights in the shareholders’ meeting of the JV Company, the JV Company shall become a subsidiary of Shenzhen Merchants. As a result, the financial results, assets and liabilities of the JV Company shall be consolidated into the accounts of the Group.
FINANCIAL EFFECTS OF THE TRANSACTION. 9.1 Share Capital
FINANCIAL EFFECTS OF THE TRANSACTION. OUE expects to fund the Aggregate Consideration for the Transaction from its available cash resources. The Transaction is not expected to have a material effect on: the consolidated net tangible assets (“NTA”) per share of OUE Group as of 31 December 2020 (being the most recently completed financial year end of the OUE Group), assuming that the Transaction had been completed as of such date; and the consolidated earnings per share of OUE Group for the financial year ended 31 December 2020 (being the most recently completed financial year end of the OUE Group), assuming that the Transaction had been completed as of 1 January 2020.
