enl commercial limited annual report 2011 - Investing In Africa

Notes to the Financial Statements
Year ended June 30, 2011
16 SHARE CAPITAL
Number of Ordinary Share
shares shares premium Total
Rs’000 Rs’000 Rs’000
At June 30, 2011 and 2010 29,172,500 29,173 148,787 177,960
The total number of ordinary shares is 29,172,500 shares (2010: 29,172,500 shares) with no par value.
All issued shares are fully paid.
17 BORROWINGS
THE GROUP
THE COMPANY
2011 2010 2011 2010
Rs’000 Rs’000 Rs’000 Rs’000
Non-current
Bank loans 346,718 107,524 134,674 33,881
Unsecured loans 40 40 40 40
Loan capital excluding obligations under
finance leases (see note (b)) 346,758 107,564 134,714 33,921
Obligations under finance lease (see note (c)) 56,260 27,365 - -
403,018 134,929 134,714 33,921
Current
Bank overdrafts 136,238 199,603 28,515 62,860
Bank loans 190,168 123,936 71,482 82,789
Loans at call 8 8 8 8
Obligations under finance lease (see note (c)) 29,568 12,245 - -
355,982 335,792 100,005 145,657
Total borrowings 759,000 470,721 234,719 179,578
(a)
(b)
The bank loans and other secured loans are secured over certain of the assets of the group. Lease
liabilities are effectively secured as the rights to the leased assets revert to the lessor in the event of
default.
The maturity of non current loans is as follows:
THE GROUP
THE COMPANY
2011 2010 2011 2010
Rs’000 Rs’000 Rs’000 Rs’000
Repayable by instalments:
- after one year and before two years 40,677 20,934 21,898 14,161
- after two years and before three years 32,464 22,778 14,306 14,585
- after three years and before five years 88,962 13,348 39,513 5,135
- after five years 184,655 50,504 58,997 40
346,758 107,564 134,714 33,921
The carrying amounts of non-current borrowings are not materially different from their fair values.
ENL Commercial Limited
Annual Report 2011
93