EZRA HOLDINGS LIMITED - FinanzNachrichten.de
EZRA HOLDINGS LIMITED - FinanzNachrichten.de
EZRA HOLDINGS LIMITED - FinanzNachrichten.de
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
5. Financial Effects<br />
Purely for illustrative purposes only, the pro forma financial effects of the Proposed Distribution on<br />
selected financial measures and ratios of the Ezra Group are set out below, and have been computed<br />
based on the latest audited consolidated financial statements of the Ezra Group for the financial year<br />
en<strong>de</strong>d 31 August 2011. The financial effects are based on, inter alia, the following assumptions:<br />
(a) The Company's post-restructuring shareholding in Triyards is diluted by approximately 33.0% as<br />
a result of the Proposed Distribution (thereby resulting in its shareholding interest being reduced<br />
to approximately 67.%;<br />
(b) the transaction costs incurred for the Restructuring Exercise and the Proposed Distribution are<br />
insignificant and ignored for computational purposes;<br />
(c) the Restructuring Exercise had been effected on 1 September 2010, being the start of the latest<br />
audited complete financial year; and<br />
(d) the Proposed Distribution of approximately 33.0%. or approximately US$24.0 million is based<br />
on the pro forma consolidated net asset value of the Triyards pro forma Group as at 31 August<br />
2011 of approximately US$72.8 million.<br />
5.1 Share Capital<br />
There are no pro forma financial effects arising from the Proposed Distribution on the share capital<br />
of the Company as at 31 August 2011. The share capital of the Company before and after the<br />
Proposed Distribution as at 31 August 2011 is as follows:-<br />
Issued share capital : US$394.9 million<br />
Number of Issued Shares (excluding treasury shares): 862,603,733<br />
5.2 Net Tangible Assets ("NTA")<br />
The pro forma financial effects of the Proposed Distribution on the NTA per Share of the Ezra<br />
Group as at 31 August 2011 are as follows:<br />
NTA (US$’000) (1)<br />
Number of Shares (3)<br />
0102236-0000004 SN:5301031.6 6<br />
Ezra Group before<br />
the Proposed<br />
Distribution<br />
(Audited)<br />
Ezra Pro Forma<br />
Group after the<br />
Proposed<br />
Distribution<br />
(Unaudited)<br />
674,221 650,205 (2)<br />
973,529,408 973,529,408<br />
NTA per Share (US cents) 69.26 66.79<br />
Notes:-<br />
(1) Adjusted to remove goodwill and other intangible assets
Change language