Annual Report 2012 - ORCO Germany
Annual Report 2012 - ORCO Germany
Annual Report 2012 - ORCO Germany
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<strong>ORCO</strong> GERMANY S.A.<br />
Société Anonyme<br />
R.C.S. Luxembourg B 102.254<br />
NOTES TO THE ACCOUNTS<br />
December 31, <strong>2012</strong><br />
- continued -<br />
2.2.11 Bonds and convertible bonds<br />
Bonds and convertible bonds are recorded at their nominal value. Where the amount<br />
repayable is greater than the amount received, the difference is shown as an asset<br />
under the caption "Prepayment and accrued income" and is written off over the period<br />
of the bonds on a linear basis under the caption "Interest payable and similar charges".<br />
Financing fees linked to the issuance of those bonds are also recorded under the<br />
caption "Prepayment and accrued income" and are amortised through profit and loss<br />
account over the period of the bonds under the caption "interest payable and similar<br />
charges".<br />
2.2.12 Share subscription rights<br />
The Company grants share subscription rights to third party as part of its financing<br />
program. Change in fair value of those instruments is not accounted for in the annual<br />
accounts.<br />
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