SEC Form 17-A: Annual Report - the solid group inc website

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- 65 - 24. EQUITY 24.1 Capital Stock The Group has a total authorized capital stock of P5.0 billion divided into 5,000,000,000 shares with P1 par value. On June 18, 1996, the SEC issued an Order approving the Registration Statement covering the securities which comprised the Parent Company’s entire authorized capital stock. On September 4, 1996, the Parent Company’s shares were listed in the PSE and the trading of offer shares commenced. The Parent Company offered to the public 665,000,000 shares at an offer price of P5.85 per share. The offer shares are composed of 524,475,000 primary shares (new shares) and 140,525,000 secondary shares (existing shares). As of December 31, 2012, the Company has issued shares of 2,030,975,000 (with P1 par value), of which, 392,472,704 shares are held by the public. There are 4,482 holders of the listed shares which closed at P1.98 per share on December 31, 2012. 24.2 Retained Earnings On October 12, 2012, the BOD approved the declaration of cash dividends of P0.06 per share or totaling to P109.3 million, payable to stockholders of record as of October 31, 2012. The cash dividends were paid on November 28, 2012. Retained earnings is restricted in the amount of P115.6 million in 2012 and 2011, equivalent to the 209,433,000 shares held in treasury. 24.3 Revaluation Reserves The components of this account and its movements are as follows: Notes 2012 2011 2010 Cumulative translation adjustments: Balance at beginning of year P 77,477,390 P 64,979,425 P 70,778,455 Currency differences on translating financial statements of foreign operations 2 ( 28,103,335) 12,497,965 ( 5,799,030 ) 49,374,055 77,477,390 64,979,425 Fair value losses on AFS financial assets: Balance at beginning of year ( 106,719,760) ( 108,459,976) ( 172,432,191 ) Reclassification adjustments for losses recognized in profit or loss 12,145,053 12,804,822 49,498,034 Fair value gains (losses) – net 9 ( 853,830) ( 9,606,606) 15,584,181 Deferred tax income on changes in fair value of AFS financial assets 23.2 ( 300,000) ( 1,458,000) ( 1,110,000 ) ( 95,728,537) ( 106,719,760) ( 108,459,976 ) Other comprehensive income attributable to non-controlling interest 35,000 - - Balance at end of the year (P 46,319,482) (P 29,242,370 ) (P 43,480,551 )
- 66 - 25. EARNINGS PER SHARE Basic and diluted EPS for profit attributable to the Parent Company’s stockholders are computed as follows: 2012 2011 2010 Net profit for the year attributable to the Parent Company’s stockholders P 1,244,304,250 P 439,437,428 P 229,346,310 Divided by weighted average shares outstanding: Number of shares issued 2,030,975,000 2,030,975,000 2,030,975,000 Treasury shares ( 209,433,000) ( 209,433,000) ( 209,433,000 ) 1,821,542,000 1,821,542,000 1,821,542,000 EPS – basic and diluted P 0.68 P 0.24 P 0.13 There were no outstanding convertible preferred shares and bonds or other stock equivalents as of December 31, 2012, 2011 and 2010, hence, diluted EPS is equal to the basic EPS. 26. RELATED PARTY TRANSACTIONS The Group’s related parties include other companies owned by the Group’s majority stockholders and the Group’s key management personnel. 2012 2011 Outstanding Outstanding Related Party Amount of Receivable Amount of Receivable Category Notes Transaction (Payable) Transaction (Payable) Related Parties Under Common Ownership: Use of cable infrastructure 26.1 P 81,656,142 P - P 228,608,036 P 71,595,493 Management services 26.1 1,500,000 - 1,200,000 - Purchase of parts 26.2 87,557,687 ( 6,412,755) 107,849,402 ( 4,072,024 ) Lease of real property 26.3 1,905,820 274,060 485,592 - Granting of business loans 26.4 - 67,560,199 - 84,625,060 Interest income 26.4, 26.7 12,045,070 9,565,856 5,196,900 6,430,356 Advances to 26.5 ( 106,324,516) 22,218,883 ( 72,650,008) 128,543,399 Advances from 26.5 ( 95,931,619) 11,563,612 ( 61,416,380) 107,495,231 Collection of receivables 26.6 19,627,454 ( 18,756,177) 109,898 ( 2,331,894) Commissions 26.6 1,730,242 1,730,242 2,498,762 1,132,958 Advances for equipment 26.6 20,063 ( 3,090,785) 3,070,522 ( 3,070,522 ) Purchase of mobile phones 26.6 2,816,688,776 121,141,047 2,582,212,621 219,422,589 Advances to suppliers 26.6 ( 8,668,237) 210,754,352 2,928,899 219,422,589 Sale of mobile phones 26.6 - - 1,778,608 3,042,022 Granting of loans 26.7 - 104,354,742 - 111,286,053 Availment of loans 26.8 ( 44,740,216) 359,312,976 404,053,192 404,053,192 Interest expense 26.8 32,874,588 3,436,432 9,714,529 1,253,629
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SOLID GROUP INC. April 30, 2013 THE
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12. Check whether the issuer: (a) h
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1 PART I. BUSINESS AND GENERAL INFO
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3 Solid Laguna Corporation (SLC) wa
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5 Status of any-publicly announced
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7 • Distributoship Agreement with
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9 Major Risks involved in the Busin
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11 reform. On August 13, 1997, Soli
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13 The above lease contracts are re
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15 The number of shareholders of re
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17 Item 6. Management’s Discussio
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19 2010 Revenue improved by 17% in
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21 broadband segment posted P267 mi
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23 Advances from related parties am
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25 Other operating income amounted
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27 Total assets reached P11,716 mil
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29 Cost of rentals amounted to P38
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31 Property, plant and equipment am
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33 thumb of 2 : 1 by achieving a cu
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35 vii. Causes for any Material Cha
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37 Principally due to additional co
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39 The decrease was mainly in relat
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41 Non-current trade and other rece
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43 Principally due to other compreh
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45 Increase was due to higher trade
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47 Cost of real estate sold - 37% d
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49 Mainly from higher commissions,
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51 The overall scope of the audit w
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53 Mr. Joseph Lim is the Founding C
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55 executive officers Susan L. Tan
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57 Common Lim, Elena S. 1,894 (dire
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59 2. The Company has no transactio
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62 SOLID GROUP, INC. INDEX TO FINAN
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64 INDEX TO EXHIBITS Form 17-A No.
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66 EXHIBIT 18 SUBSIDIARIES OF THE R
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- 2 - Notes 2012 2011 LIABILITIES A
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SOLID GROUP INC. AND SUBSIDIARIES C
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SOLID GROUP INC. AND SUBSIDIARIES C
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SOLID GROUP INC. AND SUBSIDIARIES N
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- 3 - (b) Mergers of Certain Subsid
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- 5 - 2.2 Adoption of New and Amend
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- 7 - (iii) Consolidation Standards
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- 9 - (vii) PAS 32 (Amendment), Fin
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- 11 - (c) PAS 32 (Amendment), Fina
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- 13 - 2.5 Financial Assets Financi
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Page 146 and 147: - 37 - The net cash flows attributa
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Page 150 and 151: - 41 - A reconciliation of the carr
Page 152 and 153: - 43 - Borrowing costs incurred fro
Page 154 and 155: A reconciliation of the carrying am
Page 156 and 157: - 47 - The changes in the carrying
Page 158 and 159: - 49 - Information relating to sign
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Page 162 and 163: - 53 - 19. OTHER INCOME 19.1 Other
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Page 166 and 167: - 57 - 22.2 Post-employment Benefit
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Page 170 and 171: - 61 - The reconciliation of tax on
Page 172 and 173: - 63 - The net deferred tax liabili
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Page 180 and 181: - 71 - 26.10 Key Management Personn
Page 182 and 183: - 73 - (d) Gain on Sale of Assets S
Page 184 and 185: - 75 - 28.9 Others As of December 3
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Page 191 and 192: Supplementary Schedules SOLID GROUP
Page 193 and 194: Solid Group Inc. and Subsidiaries S
Page 195 and 196: Solid Group Inc. and Subsidiaries S
Page 197 and 198: SOLID GROUP INC. Schedule I Reconci
Page 199 and 200: SOLID GROUP INC. AND SUBSIDIARIES S
Page 201 and 202: PAS 33 Earnings per Share a PAS 34
Page 203: Solid Group Inc. and Subsidiaries S
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SEC Form 17-A: Annual Report - the solid group inc website

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