Examples of SFC Group in a sentence
The rental charge paid by the SFC Group on the Properties owned by the Trident Group.
Being reversal of assets and liabilities that, further to the Spin-Off, will be transferred to Trident Group and therefore no longer reflected in the consolidated financial position of the SFC Group; 2.
Nevertheless, the properties retained within the SFC Group will give rise to counter-party risks should the Trident Group not perform in line with the SFC Group’s expectations and in accordance with the contractual obligations.
Malta 6 June 2017Independent accountant’s assurance report on the compilation of pro forma financial information To the board of directors of Simonds Farsons Cisk p.l.c. Report on the compilation of pro forma financial information We have completed our assurance engagement to report on the compilation of pro forma financial information of Simonds Farsons Cisk p.l.c. (the “SFC Group”), as prepared by the directors of the SFC Group (“the Directors”).
The illustration is based on extracts from the pro forma consolidated Income Statement and consolidated Statement of Financial Position of the SFC Group for the financial year ended 31 January 2017, which are set out in Appendix B to the Circular.
Being adjustment to reflect the effect of the revision of rental contracts for properties leased by the Trident Group to the SFC Group, which agreements are effective as from 1 February 2017.
The pro forma financial information for the SFC Group comprises a pro forma Income Statement for the year ended 31 January 2017 and a pro forma Statement of Financial Position as at 31 January 2017.
The pro forma financial information has been prepared using the actual results for the SFC Group for the financial year ended 31 January 2017 and superimposing the transactions outlined in section 2 below ‘Pro forma adjustments’.
The pro forma financial information has been compiled on the basis of the accounting policies adopted by the SFC Group taking into account the requirements of building block 20.2 of Annex I and Annex II of EC Regulation 809/2004.
This net movement reflects an increase of ¤7.0 million in the Group’s total borrowings, which is primarily the result of additional borrowings required for the cash contribution of ¤6.5 million into the Trident Group, which the SFC Group will be injecting prior to the Spin-Off to part-finance the works on the Trident Park Project.