Annual Report 2010-2011 - Colombo Stock Exchange

Notes to the Financial Statements Contd.
Details of these schemes are presented in the table below.
Number of Shares
ESOP-1 ESOP-2
Available as at 1.4.2010 3,462,333 6,310,876
Options exercise before subdivision (ESOP1 at Rs. 78.46 and ESOP2 at Rs. 46.14) (131,866) (649,168)
Share options issued under subdivision 46,626,538 79,263,912
Options exercised after subdivision (ESOP1 at Rs. 5.23 and ESOP2 at Rs. 3.08) (1,585,675) (175,005)
48,371,330 84,750,615
The company does not provide any financial assistance to the employees to purchase shares under this scheme.
34 Post balance sheet events
There have been no material events occurring after the Balance Sheet date that require adjustments to or disclosure in the
Financial Statements other than;
(a) The Board of Directors of the company has declared a final dividend of Rs.0.10 per share for the financial year ended 31st
March 2011. As required by section 56 (2) of the Companies Act No 07 of 2007, the Board of Directors has confirmed that the
company satisfies the solvency test in accordance with section 57 of the Companies Act No 07 of 2007, and has obtained
a certificate from the auditors, prior to declaring the dividend which is to be paid on 8th July 2011. In accordance with the
Sri Lanka Accounting Standard 12 (revised 2005), Events after the Balance Sheet date, the final dividend has not been
recognized as a liability in the financial statements as at 31st March 2011.
35 Related party disclosures
35.1 Transaction with related entities
Group
Company
2010/2011 2009/2010 2010/2011 2009/2010
Nature of transactions Rs.’000 Rs.’000 Rs.’000 Rs.’000
35.1.1 Subsidiaries
35.1.2 Associates
Amounts receivable as at 31 March 984,541 1,629,758
Amounts payable as at 31 March 177,515 148,167
Allocation of common personnel and
administration expenses 145,636 148,490
Rendering of Services 63,877 67,946
Net investments made 113,333 240,000
Dividends received 537,881 231,300
Rent income 128,432 128,184
Royalty income 215,757 91,637
Allowances for doubtful debt 48,739 49,182
Amounts receivable as at 31 March 4,101 4,994 - -
Amounts payable as at 31 March 1,783 1,300 - -
Insurance premia paid/payable 52,596 72,462 19,653 14,545
Sale of goods/services 282,041 313,164 - -
Purchase of goods/services 9,185 11,067 - -
35.1.3 Significant Investor
Dividend paid 137,704 - 137,704 -
Richard Pieris and Company PLC | Annual Report 2010/2011 102