notes to the financial statements - Food Empire Holdings Limited

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NOTES TO THE FINANCIAL STATEMENTS (cont’d) For the year ended 31 December 2012 29. Interest-bearing loans and borrowings Group Maturity 2012 2011 US$’000 US$’000 Current - SGD loan at SIBOR + 0.85% p.a. 2013 779 733 - USD loan at COF + 1.50% p.a. 2013 343 343 1,122 1,076 Non-current - SGD loan at SIBOR + 0.85% p.a. 2020 5,258 5,679 - USD loan at COF + 1.50% p.a. 2021 2,747 3,090 - SGD loan at COF + 1.25% p.a. 2024 3,763 3,541 11,768 12,310 Total loans and borrowings 12,890 13,386 SGD loan at SIBOR + 0.85% p.a. For the financial year ended 31 December 2011, a subsidiary of the Group took up this loan to finance the purchase of the freehold property, 31 Harrison Road Singapore 369649. The loan is secured by a mortgage of this freehold building. This loan includes a covenant which requires the subsidiary to be wholly owned by its holding company. See Note 13 for more details. USD loan at COF + 1.50% p.a. For the financial year ended 31 December 2011, a subsidiary of the Group has taken up the loan to finance the purchase of the freehold property, GM 1780, Lot 1723, Tempat Batu 9 1/4, Jalan Kapar, Mukim Kapar, Daerah Klang, Selangor. The loan is secured by a first mortgage over the freehold property. This loan includes a covenant which requires the subsidiary to be wholly owned by its ultimate holding company. See Note 12 for more details. SGD loan at COF + 1.25% p.a. For the financial year ended 31 December 2011, a subsidiary of the Group has taken up the loan to finance the purchase of the freehold property, 81 Playfair Road, Singapore 367999. The loan is secured by a first mortgage over the freehold property. This loan includes a covenant which requires the subsidiary to be wholly owned by its ultimate holding company. See Note 13 for more details. 116
Food Empire Holdings Limited Annual Report 2012 NOTES TO THE FINANCIAL STATEMENTS (cont’d) For the year ended 31 December 2012 30. Share capital and treasury shares (a) Share capital Group and Company 2012 2011 US$’000 US$’000 Issued and fully paid: At beginning of the year 529,413,999 (2011: 529,043,999) ordinary shares 39,751 39,666 Issued for cash under employee share option 3,300,000 ordinary shares issued at exercised price of S$0.229 619 44 140,000 ordinary shares issued at exercised price of S$0.335 38 32 140,000 ordinary shares issued at exercised price of S$0.315 36 – Transfer from share-based payment reserve 20 9 At end of the year 40,464 39,751 The holders of ordinary shares are entitled to receive dividend as and when declared by the Company. All ordinary shares carry one vote per share without restrictions. The ordinary shares have no par value. As at the end of the financial year, unissued ordinary shares of the Company under options granted to eligible employees and Directors under the 2002 Option Scheme amounted to a total of 11,740,000 (2011: 15,890,000) ordinary shares. Details of outstanding options are set out in Note 32. (b) Treasury shares Group and Company 2012 2011 US$’000 US$’000 At 1 January – – Acquired during the financial year (317) – At 31 December (317) – Treasury shares relate to ordinary shares of the Company that is held by the Company. The Company acquired 1,001,000 (2011: Nil) shares in the Company through purchases on the Singapore Exchange during the financial year. The total amount paid to acquire the shares was US$317,000 (2011: Nil) and this was presented as a component within the shareholders’ equity. 117
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INTRODUCTION VOYAGE OF DISCOVERIES
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CORPORATE PROFILE EVERYTHING YOU NE
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Food Empire Holdings Limited Annual
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CORPORATE GOVERNANCE (cont’d) A)
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