Ardagh Glass Finance plc - Irish Stock Exchange

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
25. Business combination (Continued)
business combinations accounting under IFRS 3. Thus, the consideration of A3,626,000 is held on the
balance sheet as an investment at the year end. The company, based in Nienburg, Germany, supplies
cold end inspection equipment to the international glass container industry. Heye International will
integrate the acquired product portfolio with its existing range of hot and cold end equipment.
26. Related party transactions
The following transactions were carried out with related parties:
(a) Yeoman Capital SA
As at 31 December 2007 Yeoman Capital SA owned 39.31% of the ordinary shares of Ardagh
Glass Group plc. Three of Ardagh Glass Holding Ltd’s directors, Messrs. Coulson, Dowling and Baertz,
also serve as directors of companies within the Yeoman Group of companies. During 2008, the Group
incurred costs of A1,300,000 relating to fees charged by the Yeoman group of companies.
(b) Key management compensation
2008 2007
E’000 E’000
Salaries and other short term employee benefits ............................. 5,320 3,805
Post employment benefits .............................................. 732 296
6,052 4,101
(c)
Joint venture—Eura Glasrecycling GmbH
As at 31 December 2008, the Group owed A926,000 (2007: A180,000) to Eura Glasrecycling GmbH.
During 2008 the Group received dividends of Anil (2007: A100,000) from Eura Glasrecycling GmbH.
(d) Ardagh Glass Group plc
Ardagh Glass Group plc is the ultimate parent of the Group. There are no outstanding amounts at
the year end between Ardagh Glass Group plc and any of its subsidiaries.
(e)
Pension scheme
The pension schemes are related parties. For details of all transactions during the year please read
Note 18 Retirement Benefit Obligations.
27. Events after the balance sheet date
Subsequent to the balance sheet date, the Group has restructured its operating footprint to reflect
efficiency gains that have been delivered from the acquisition of the glass packaging division of
Rexam plc in 2007. In addition some short term temporary line closures have been implemented to
maintain targeted stock levels.
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