Torp Computing Group ASA

Dividends
Dividends are classified as liabilities once they are adopted by the AGM.
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INFORMATION MEMORANDUM
Merger of Komplett ASA and Torp Computing Group ASA
Tax
On the income statement, tax expenses include tax payable for the period and the change in
deferred tax/deferred tax assets. Tax payable for the period is made up of anticipated taxes
payable on the year’s taxable profit at the tax rates applicable on the balance sheet date and any
corrections in tax payable for previous years. Tax payable and deferred tax/deferred tax assets are
computed using a calculated tax rate based on the tax rate in the countries in which Komplett is
liable to taxation. Deferred tax/deferred tax assets are calculated on the basis of the temporary
differences that arise between balance sheet items for accounting purposes and those for tax
purposes, as well as the tax-related deficit to be carried forward at the end of the fiscal year.
Temporary differences that increase or decrease taxes, and which have been reversed or can be
reversed during the same period, are assessed and booked at net values. Deferred tax assets are
booked when it is likely that the Group will have sufficient tax related profit in subsequent periods
to benefit from the tax advantage. For Group companies that have earned a loss and where there
is no opportunity for a set-off, losses carried forward will be capitalized first when the companies
have shown the ability to generate favourable earnings.
Earnings per share
The key ratio ‘earnings per share’ is based on the net profit per time-weighted share, calculated on
the basis of the actual number of days. The key ratio ‘earnings per share after dilution’ is based on
the same calculation as above, but also takes into account all potential ordinary shares that have
been outstanding during the period, and that will have a diluting effect, i.e. decrease the earnings
per share (EPS ) for the ordinary shares. Potential ordinary shares relate to agreements that entail
the right to issue ordinary shares in future.
Cash flow statement
The cash flow statement has been compiled using the indirect method of accounting. The
statement shows the net cash reserves. At 31 December, the Group had no lines of credit or the
like included in its liquid reserves.
Cash and cash equivalents
Cash consists of cash in hand. Cash equivalents consist of bank deposits and short-term liquid
investments that can immediately be converted into a given amount of cash. This type of
investments entails low credit risk and a maximum maturity of 3 months. Some bank deposits
have limitations that apply to the right of disposal.
Reporting by segment
A segment constitutes an identifiable part of the Group that delivers products or services within a
separate financial environment that has a risk and return that differ from other segments. The
Group considers the risk profile to be largely a factor of the individual distribution centres’
particular circumstances. In addition, the Group offers loans to customers and this business area
has a different risk and returns profile. Based on the above, the Group’s segments coincide with
the Group’s internal management reporting.
Leasing
Leases under which the Group takes over the substantial part of the risk and returns associated
with the ownership of assets are financial leases. At present, the Group has no leases that are
considered financial leases. Leases under which the substantial part of the risk and returns
associated with the ownership of assets is not undertaken by the group are classified as operational