Ardagh Glass Finance plc - Irish Stock Exchange

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) 9. Property, plant and equipment (Continued) Impairment Impairment tests for items of property, plant and equipment are performed on an entity level basis and resulted in the Group recognising impairment costs of A nil in the current and previous year. The recoverable amounts in property, plant and equipment are based on value-in-use calculations. The same cash flow projections and discount rates for items of property, plant and equipment were used for the goodwill impairment calculations (Note 8). Impairment charges are recognised within other income and expense in the Group income statement. Included in property, plant and equipment is an amount for land of A68,700,000 (2007: A69,025,000). The depreciation charge for capitalised leased assets was A6,663,000 (2007: A10,154,000) and the related finance charges amounted to A2,043,000 (2007: A2,161,000). The net carrying amount by class of assets at each Balance Sheet date is as follows: 2008 2007 E’000 E’000 Land and buildings ................................................. 10,575 14,404 Property, plant and equipment ........................................ 13,450 25,726 Office equipment and vehicles ......................................... 97 194 24,122 40,324 Operating lease commitments During the year the operating lease commitments relating to the following class of assets were charged to the income statement: 2008 2007 E’000 E’000 Plant and machinery ................................................. 1,226 2,581 Land and buildings .................................................. 4,394 4,902 Motor vehicles ...................................................... 3,281 — 8,901 7,483 At 31 December 2008 the Group had annual commitments under non-cancellable operating leases which expire: 2008 2007 E’000 E’000 Within 1 year ..................................................... 4,258 3,501 Within 2–5 years inclusive ............................................ 6,100 7,051 After 5 years ..................................................... 5,764 6,673 16,122 17,225 F-35
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) 9. Property, plant and equipment (Continued) Capital commitments The following capital commitments in relation to property, plant and equipment were authorised by the directors, but have not been provided for in the consolidated financial information: 2008 2007 E’000 E’000 Contracted for .................................................... 39,832 18,988 Not contracted for ................................................. 26,053 35,103 65,885 54,091 10. Investment in joint venture 2008 2007 E’000 E’000 At 1 January ....................................................... 1,859 1,619 Share of retained profit for the financial year ............................... 783 340 Dividends received ................................................... — (100) At 31 December .................................................... 2,642 1,859 2008 2007 E’000 E’000 Share of gross assets ................................................. 2,749 1,869 Share of gross liabilities ............................................... (789) (692) Goodwill .......................................................... 682 682 2,642 1,859 11. Inventories 2008 2007 E’000 E’000 Raw materials and consumables ...................................... 70,460 65,272 Short-life moulds ................................................ 28,311 29,330 Work in progress ................................................ 2,070 2,709 Finished goods .................................................. 171,199 134,287 272,040 231,598 F-36
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OFFERING MEMORANDUM—LISTING PARTI
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IMPORTANT INFORMATION This Offering
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NOTICE TO EEA INVESTORS This Offeri
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NOTES ON DEFINED TERMS USED IN THIS
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PRESENTATION OF FINANCIAL AND OTHER
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The 2007 Pro Forma Financial Inform
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EXCHANGE RATES Exchange Rate Betwee
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Exchange Rate Between the Euro and
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Exchange Rate Between the Euro and
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Ardagh Glass Engineering Ardagh Gla
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• Continue to Apply Advanced Tech
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As at September 30, 2009, after giv
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• be effectively subordinated to
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Use of Proceeds ................ Tr
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Unaudited Nine months ended and as
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The reconciliation of operating pro
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Our credit facilities contain finan
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Facility, causing all the debt unde
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An active trading market may not de
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its hedging arrangements. As at Sep
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• issued such Guarantee in a situ
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will continue to be preferred by ou
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We are subject to various environme
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Changes in laws and regulations rel
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the twelve months ended September 3
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Coulson is Chairman of the board of
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CAPITALIZATION The following table
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Unaudited Nine months ended and as
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UNAUDITED SUPPLEMENTAL INFORMATION
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OPERATING AND FINANCIAL REVIEW AND
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Acquisition of Busch and Spreen. In
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Goodwill Goodwill represents the ex
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Operating Profit Excluding other in
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Audited Pro forma Year ended Decemb
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major drivers of the rise in gross
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Operating Results The significant i
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Historical Development The followin
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External Financings The following t
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Derivative transactions are only un
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Beverages, Diageo, and Nestlé. Ard
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has consistently focused on decreas
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The following table shows certain p
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Ardagh Glass Engineering Ardagh’s
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Key competitors by material type: P
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period. This agreement supersedes a
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Intellectual Property Glass Contain
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Asbestos is present, or may be pres
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facilities are well maintained and
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glass container industry. Heye Inte
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Board of Directors The following ta
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Internal Control and Risk Managemen
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DESCRIPTION OF OTHER INDEBTEDNESS T
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Under the Intercreditor Agreement,
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In addition, certain negative coven
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DESCRIPTION OF THE NOTES The defini
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(b) rank senior in right of payment
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etain Permitted Junior Securities a
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under the Guarantee would cause the
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of its Subsidiaries may act as payi
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to obtain such receipts, the same a
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the Issuer would be obligated to pa
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of Control could cause a default un
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or otherwise become responsible for
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principal amount that may be drawn
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Payment (or, if such aggregate cumu
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indirectly, to issue or sell, any s
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directly secured by a Lien on such
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Notwithstanding the foregoing, noth
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(e) encumbrances or restrictions co
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(ii) maintain or preserve such Pers
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Guarantor would dispose of, all or
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periods and other than by regularly
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(b) the Issuer’s obligations to i
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occurring after an Event of Default
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Indenture, the Notes or any Guarant
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‘‘Asset Sale’’ means any sa
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a share of the profits and losses,
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‘‘Consolidated Fixed Charge Cov
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Notwithstanding any of the foregoin
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otherwise require any cash payment
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or other property to others or any
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(f) Investments in the Notes and th
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(l) Liens arising by reason of any
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or associated with, any Asset Sale,
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elevant security agent in the enfor
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BOOK-ENTRY; DELIVERY AND FORM Gener
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The Global Note for Rule 144A Book-
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TAXATION Prospective purchasers of
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Encashment Tax If the Paying Agent
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Interest on the Senior Notes Paymen
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will hold Senior Notes as part of a
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amount of OID into U.S. dollars and
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LIMITATIONS ON VALIDITY AND ENFORCE
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Effect of Appointment of Examiner T
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Liability Company as General Partne
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of court by the company, its direct
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court). As a general rule, such leg
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which creditors have a right to be
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ascertain the center of main intere
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Italy Ardagh Glass S.r.l., one of t
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Fraudulent Transfer Provisions of G
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provided that no such offer of Seni
Page 205 and 206: NOTICE TO INVESTORS The Senior Note
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Page 209 and 210: (ii) the process and decision of th
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Page 213 and 214: Recognition of Judgments in Civil a
Page 215 and 216: LISTING AND GENERAL INFORMATION 1.
Page 217 and 218: 15. The consolidated non-statutory
Page 219 and 220: Place of Registration and Registrat
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Page 223 and 224: CONSOLIDATED NON-STATUTORY FINANCIA
Page 225 and 226: STATEMENT OF DIRECTORS’ RESPONSIB
Page 227 and 228: BASIS OF PREPARATION (Continued) su
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Page 231 and 232: ACCOUNTING POLICIES (Continued) (v)
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Page 241 and 242: CONSOLIDATED INCOME STATEMENT FOR T
Page 243 and 244: CONSOLIDATED BALANCE SHEET AS AT 31
Page 245 and 246: NOTES TO THE CONSOLIDATED FINANCIAL
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Page 281 and 282: INDEPENDENT AUDITORS’ REPORT TO T
Page 283 and 284: BASIS OF PREPARATION These consolid
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Page 287 and 288: ACCOUNTING POLICIES (Continued) (v)
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Page 293 and 294: ACCOUNTING POLICIES (Continued) The
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Page 297 and 298: CONSOLIDATED INCOME STATEMENT FOR T
Page 299 and 300: CONSOLIDATED BALANCE SHEET AS AT 31
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NOTES TO THE CONSOLIDATED FINANCIAL
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INTERIM UNAUDITED NON-STATUTORY GRO
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CONSOLIDATED INTERIM INCOME STATEME
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CONSOLIDATED INTERIM BALANCE SHEET
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NOTES TO THE UNAUDITED CONSOLIDATED
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ISSUER Ardagh Glass Finance plc 4 R
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F180,000,000 Ardagh Glass Finance p
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Ardagh Glass Finance plc - Irish Stock Exchange

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