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 and A1,909,000 in 2007 and 2006, respectively. 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 A69,025,000 (2006: A9,700,000). The depreciation charge for capitalised leased assets was A10,154,000 (2006: A13,545,000) and the related finance charges amounted to A2,161,000 (2006: A1,909,000). The net carrying amount by class of assets at each Balance Sheet date is as follows: 2007 2006 E’000 E’000 Land and buildings ................................................. 14,404 17,020 Property, plant and equipment ........................................ 25,726 35,198 Office equipment and vehicles ......................................... 194 285 40,324 52,503 Operating lease commitments Operating lease rentals amounting to A7,483,000 (2006: A10,232,000) relating to the lease of plant and equipment are included in the income statement. At 31 December 2007 the Group had annual commitments under non-cancellable operating leases which expire: 2007 2006 E’000 E’000 Within 1 year ...................................................... 3,501 581 Within 2–5 years inclusive ............................................. 7,051 1,425 After 5 years ...................................................... 6,673 2,650 17,225 4,656 An impairment charge of A1,909,000 was recognised in 2006 relating to the November 2006 furnace closure at the Barnsley plant. F-91
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: 2007 2006 E’000 E’000 Contracted for .................................................... 18,988 6,863 Not contracted for ................................................. 35,103 9,106 54,091 15,969 10. Investment in joint venture 2007 2006 E’000 E’000 At 1 January ....................................................... 1,619 1,551 Share of retained profit for the financial year ............................... 340 288 Dividends received ................................................... (100) (220) At 31 December .................................................... 1,859 1,619 2007 2006 E’000 E’000 Share of gross assets ................................................. 1,869 1,626 Share of gross liabilities ............................................... (692) (689) Goodwill .......................................................... 682 682 1,859 1,619 11. Inventories 2007 2006 E’000 E’000 Raw materials and consumables ...................................... 65,272 32,035 Short-life moulds ................................................ 29,330 2,077 Work in progress ................................................ 2,709 1,731 Finished goods .................................................. 134,287 85,602 231,598 121,445 F-92
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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
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NOTICE TO INVESTORS The Senior Note
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AND ANY APPLICABLE LOCAL LAWS AND R
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(ii) the process and decision of th
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In cases of non-compliance with or
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Recognition of Judgments in Civil a
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LISTING AND GENERAL INFORMATION 1.
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15. The consolidated non-statutory
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Place of Registration and Registrat
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Place of Registration and Registrat
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CONSOLIDATED NON-STATUTORY FINANCIA
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STATEMENT OF DIRECTORS’ RESPONSIB
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BASIS OF PREPARATION (Continued) su
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BASIS OF PREPARATION (Continued) In
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ACCOUNTING POLICIES (Continued) (v)
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ACCOUNTING POLICIES (Continued) INV
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ACCOUNTING POLICIES (Continued) to
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ACCOUNTING POLICIES (Continued) fin
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ACCOUNTING POLICIES (Continued) (ii
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CONSOLIDATED INCOME STATEMENT FOR T
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CONSOLIDATED BALANCE SHEET AS AT 31
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NOTES TO THE CONSOLIDATED FINANCIAL
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Page 261 and 262: NOTES TO THE CONSOLIDATED FINANCIAL
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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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Page 337 and 338: CONSOLIDATED INTERIM INCOME STATEME
Page 339 and 340: CONSOLIDATED INTERIM BALANCE SHEET
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Page 349 and 350: ISSUER Ardagh Glass Finance plc 4 R
Page 351: F180,000,000 Ardagh Glass Finance p
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Ardagh Glass Finance plc - Irish Stock Exchange

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