Annual Report 2011 - Food Junction

Recommendations

Info

102 Appendix I SUMMARY SHEET FOR RENEWAL OF SHARES PURCHASE MANDATE (b) in full exercise of the Shares Purchase Mandate, 12,200,879 Shares were purchased as at the Latest Practicable Date; (c) the maximum price for the market purchases is $0.20, which is five per cent. (5%) above the average closing prices of the Shares over the last five market days preceding the Latest Practicable Date on which the transactions in Shares were recorded on the SGX-ST; and (d) the maximum amount of funds required for the Shares purchases in the aggregate is $2,440,176 (excluding transactional costs) as at the Latest Practicable Date. Annual Report Market Purchases and Off-Market Purchases and held as Treasury Shares or cancelled Group Before Shares Purchases ($’000) After Shares Purchases ($’000) As at 31 December 2011 Shareholders’ funds 30,404 27,964 Intangible assets 8,968 8,968 Net tangible assets 21,436 18,996 Current assets 27,202 24,762 Current liabilities 18,584 18,584 Working Capital 8,618 6,178 Total Liabilities 20,745 20,745 Cash and cash equivalents 21,352 18,912 Short-term investments – – Number of Shares (excluding Treasury Shares) 122,008,790 109,807,911 Financial Ratios Net tangible assets per Share (cents) 17.57 17.30 Earnings per Share (cents) 0.68 0.75 Gearing (%) – – Current ratio 1.46 1.33
Appendix I SUMMARY SHEET FOR RENEWAL OF SHARES PURCHASE MANDATE Company Before Shares Purchases ($’000) After Shares Purchases ($’000) As at 31 December 2011 Shareholders’ funds 22,240 19,800 Intangible assets (Goodwill) – – Net tangible assets 22,240 19,800 Current assets 6,092 3,652 Current liabilities 633 633 Working Capital 5,459 3,019 Total Liabilities 633 633 Cash and cash equivalents 671 (1,769) Short-term investments – – Number of Shares (excluding Treasury Shares) 122,008,790 109,807,911 Financial Ratios Net tangible assets per Share (cents) 18.23 18.03 Earnings per Share (cent) 1.21 1.35 Gearing (%) – – Current ratio 9.62 5.77 5. Shareholders should note that the financial effects set out above are based on the audited financial accounts of the Group and the Company for the financial year ended 31 December 2011 and are for illustration only. The results of the Group and the Company for the financial year ended 31 December 2011 may not be representative of future performance. 6. The Company intends to use its internal sources of funds to finance its purchases of the Shares. The Company does not intend to obtain or incur any borrowings to finance its purchases of the Shares. The Directors do not propose to exercise the Shares Purchase Mandate in a manner and to such extent that the working capital requirements of the Group would be materially affected. 7. The Company will take into account both financial and non-financial factors, among other things, the market conditions at such time, the Company’s financial condition, the performance of the Shares and whether such Shares purchases would represent the most efficient and cost-effective approach to enhance the Share value. Shares purchases will only be made if the Board believes that such purchases are likely to benefit the Company and increase economic value for shareholders. (E) CONSEQUENCES OF SHARES PURCHASES UNDER THE SINGAPORE CODE ON TAKE-OVERS AND MERGERS 1. In accordance with The Singapore Code on Take-overs and Mergers (the "Take-over Code"), a person will be required to make a general offer for a public company if: (a) he acquires thirty per cent. (30%) or more of the voting rights of the company; or (b) he already holds between thirty per cent. (30%) and fifty per cent. (50%) of the voting rights of the company, and he increases his voting rights in the company by more than one per cent. (1%) in any six (6) month period. Annual Report103
Page 3 and 4:
Annual Report 1
Page 5 and 6:
Annual Report 3
Page 7 and 8:
Annual Report 5
Page 9 and 10:
Financial Highlights Ratios Financi
Page 11 and 12:
Financial Highlights (cont’d) Bal
Page 13 and 14:
Annual Report 11
Page 15 and 16:
Annual Report 13
Page 17 and 18:
Annual Report 15
Page 19 and 20:
Annual Report 17
Page 21 and 22:
Annual Report 19
Page 23 and 24:
Annual Report 21
Page 25 and 26:
Annual Report 23
Page 27 and 28:
Annual Report 25
Page 29 and 30:
Annual Report 27
Page 31 and 32:
Annual Report 29
Page 33 and 34:
Annual Report 31
Page 35 and 36:
Corporate Governance (cont’d) Foo
Page 37 and 38:
Corporate Governance (cont’d) Mr
Page 39 and 40:
Corporate Governance (cont’d) Dir
Page 41 and 42:
Corporate Governance (cont’d) Dir
Page 43 and 44:
Corporate Governance (cont’d) Aud
Page 45 and 46:
Corporate Governance (cont’d) Com
Page 47 and 48:
Directors’ Report (cont’d) Audi
Page 49 and 50:
Independent Auditors’ Report To t
Page 51 and 52:
Income Statements For the fi nancia
Page 53 and 54: Statements of Changes in Equity (co
Page 55 and 56: Consolidated Cash Flow Statements F
Page 57 and 58: Notes to the Financial Statements (
Page 97 and 98: Statistics of Shareholdings As at 8
Page 99 and 100: Notice of Annual General Meeting NO
Page 101 and 102: Notice of Annual General Meeting Ex
Page 103: Appendix I SUMMARY SHEET FOR RENEWA
Page 107 and 108: Appendix I SUMMARY SHEET FOR RENEWA
Page 109 and 110: Appendix II GUIDANCE ON SHARES PURC
Page 111 and 112: Appendix II GUIDANCE ON SHARES PURC
Page 113 and 114: FOOD JUNCTION HOLDINGS LIMITED [Com
show all

Annual Report 2011 - Food Junction

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?