Annual Report 2012.pdf - Karo Bio

Notes
NOTe 17 CASH AND CASH EQUIVALENTS
Group Parent Company
Amount at December 31 2012 2011 2010 2012 2011
Short-term investments with maturities of less than 90 days - 9,931 - - 9,931
Cash and bank balances 28,024 33,822 325,486 27,964 33,812
Liquid assets 28,024 43,753 325,486 27,964 43,743
NOTE 18 SHAREHOLDER’S EQUITY
Share capital consists of 387,063,972 shares (387,063,972 and
387,063,972, respectively) with a par value of SEK 0.02 (0.50 and 0.50,
respectively). In December 2012 a share issue with preferential rights to
existing shareholders was carried out, resulting in 108,883,397 new shares to
495,947,369 shares and an increase in share capital of KSEK 2,178 (whereof
KSEK 2,178 was registered in January 2013) to KSEK 9,919 (whereof KSEK 7,741
was registered at the end of 2012 and KSEK 2,178 was registered in January
2013). In total, the rights issue generated KSEK 28,249 in net proceeds after
transactions costs of to KSEK 4,416.
In 2010 a rights issue with preferential rights to existing shareholders was
carried out, resulting in 232,238,383 new shares and an increase in share
capital of KSEK 116,120 (whereof KSEK 114,181 regarding shares registered 2010
and KSEK 1,939 regarding shares registered in January 2011) to KSEK 193,532
(whereof KSEK 191,593 was registered at the end of 2010 and KSEK 1,939 was
registered in January 2011). In total, the rights issue generated KSEK 290,926
net of transaction costs amounting to KSEK 34,208. In 2009 a share issue
with preferential rights to existing shareholders was carried out, resulting in
38,706,397 new shares and an increase in share capital of KSEK 19,353 to
KSEK 77,413. In total, the rights issue generated KSEK 150,241 net of transaction
costs amounting to KSEK 16,196.
At year-end, there were no outstanding warrants. No warrants were exercised
during 2010, 2011 or 2012.
In accordance with the Board’s policy for dividend, the Board of Directors
will propose to the annual general meeting to be held on May 7, 2013, that no
dividend shall be paid for the financial year 2012.
NOTe 19 NON-CURRENT LIABILITIES
The balance sheet item non-current liabilities comprises future lease payments
on leased equipment only. None of the non-current liabilities falls due more than
five years after the balance sheet date. See note 20.
NOTE 20 CAPITAL LEASES
The balance sheet item non-current liabilities comprises future lease payments on leased equipment only.
None of the non-current liabilities falls due more than five years after the balance sheet date. See note 20.
Group
Amount at December 31 2012 2011 2010
Within one year 277 229 889
Later than one, but within five years - - 470
Later than five years - - -
277 229 1,359
Variable fees, which mean the difference between the interest when entering into
the agreement and paid interest, are included in operating expenses during the
year and amount to KSEK 8 (48 and 63, respectively). Capital lease contracts
entered into in the year amounted to KSEK 350 (– and –, respectively). The
capital lease contracts pertain to laboratory equipment with a carrying value of
KSEK 262 (146 and 1,020, respectively).
The interest rate in the contracts is variable and linked to the Swedish general
interest rate. Karo Bio has the right to extend the leasing period or acquire,
direct or indirectly via another entity, the equipment at a predetermined price
upon expiration of the contract.
KARO BIO Annual Report 2012 33