Untitled - David Kronemyer
Untitled - David Kronemyer
Untitled - David Kronemyer
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fuising on acquisition of<br />
Rent-A-Center, Inc.<br />
Goodwill written off<br />
Retained profit for year<br />
<br />
Prolit<br />
and loss<br />
Croup<br />
<br />
<br />
<br />
Profit<br />
Company<br />
Other and loss Other<br />
reserves account reEerves<br />
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Group resewes include 930.4m (1987 S24.lm) in respect of related companies.<br />
On 3l August 1987 53,452,619 shares were issued for a consideration of!371.5m. In<br />
accordance with SlSl ofthe Companies Act 1985, the premium arising on the issue was<br />
taken to a newly-created merger reserve against which goodwill on acquisitions has been<br />
written ofl.<br />
<br />
2I. MINONITY INTERESTS<br />
At 3l March 1987<br />
Currency retranslation<br />
Minority interest in profits<br />
Auction preferred stock<br />
Dividends<br />
<br />
<br />
9m<br />
<br />
<br />
<br />
<br />
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<br />
<br />
<br />
<br />
In June 1987 THORN EMI America Finance Inc, a new, wholly owned subsidiary was<br />
registered in Delarvare, USA. The company has in issue 200 preference shares of US$l<br />
million each. The preference dividend rate varies (predominandy with prevailing interest<br />
rates) and is set every 7 veeks at an "auction" at vhich the shares are also traded.<br />
The preference share capital ofTHORN EMI America Finance Inc. is included in<br />
minority interests as shown above, Preference dividends paid are charged to minority<br />
interests in the profit and loss account.<br />
Funds raised from the issue of this Auction Preferred Stock have been loaned to other<br />
Group subsidiaries. Repayment of the loans is guaranteed by the Company.
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