Annual Report for the year ended 31 December 2008

16. diVidends
notes to tHe FinanCial statements CONTINuED
FOR THE YEAR ENDED 31 DECEMBER 2008
62 The evoluTion Group plc AnnuAl reporT & AccounTs 2008
2008 2007
£'000 £'000
prior year final paid: 1.25p (2007: 1.00p) per share 2,655 2,094
current year interim paid: 0.75p (2007: 0.67p) per share 1,607 1,402
4,262 3,496
in addition, the Directors are proposing a final dividend in respect of the financial year ended 31 December 2008 of 1.27p (2007: 1.25p) per share, which will
reduce shareholders equity by £2,708,000. it will be paid on the 22 May 2009 to shareholders on the register of members at 24 April 2009.
Dividends amounting to £53,990 (2007: £170,615) in respect of the company’s shares held by an employee share trust have been waived and accordingly
deducted in arriving at the aggregate dividends proposed.
17. GoodWill
2008 2007
£'000 £'000
COST
At 1 January 9,932 9,956
Additions 1,363 –
exchange differences 323 (24)
Transferred to disposal groups classified as held-for-sale (1,171) –
At 31 December 10,447 9,932
NET BOOk AMOuNT
At 31 December 10,447 9,932
The goodwill acquired in the year relates to the acquisition of the private client investment management business from Kaupthing singer & Friedlander limited
(in administration) on 21 october 2008.
The goodwill transferred to disposal groups classified as held-for-sale relates to the acquisition of 100% of the share capital of eWsl by escl on 14 June 2006.
2008 2007
Investment Private Investment Private
banking client Total banking client Total
£'000 £'000 £'000 £'000 £'000 £'000
uK 8,990 1,363 10,353 8,990 – 8,990
hong Kong 94 – 94 942 – 942
9,084 1,363 10,447 9,932 – 9,932
Impairment test for goodwill
To determine whether impairment exists, the carrying value of goodwill is compared annually with the recoverable amount of the Group’s cash generating
units. The recoverable amount was calculated based on the ‘fair value less costs to sell’ basis. The fair value has been calculated by reference to comparable
financial institutions listed on the hong Kong stock exchange in the case of eWsl and on the london stock exchange in the cases of esl and Williams de
Broë limited. it is the opinion of the Directors that goodwill is fairly valued and no impairment adjustment is necessary.