Interim Report 2005 - Clear Media

More documents

Recommendations

Info

22 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 13. Reserves (continued) Share premium account (Unaudited) HK$’000 Equity component of convertible bonds (Unaudited) HK$’000 Contributed surplus (Unaudited) HK$’000 Exchange fluctuation reserve (Unaudited) HK$’000 Total other reserves (Unaudited) HK$’000 Retained earnings (Unaudited) HK$’000 At 1 January 2005 As previously reported 644,427 — 351,007 (1,304) 994,130 340,482 Prior period adjustments: (note 1 and 2) HKFRS 2 Employee share option schemes 10,550 — — — 10,550 (10,550) As restated, before opening adjustments 654,977 — 351,007 (1,304) 1,004,680 329,932 Opening adjustments: (note 1 and 2) HKASs 32 and 39 Convertible bonds — 10,763 — — 10,763 — As restated, after opening adjustments 654,977 10,763 351,007 (1,304) 1,015,443 329,932 Employee share option schemes 3,233 — — — 3,233 — Exchange realignment — — — (1,038) (1,038) — Profit for the period — — — — — 35,366 Movement in current account with a minority shareholder — — — — — — At 30 June 2005 658,210 10,763 351,007 (2,342) 1,017,638 365,298
CLEAR MEDIA INTERIM REPORT 2005 23 14. Related Party Transactions (a) Transactions with related parties For the six months ended 30 June 2005 2004 (Unaudited) (Unaudited) Notes HK$’000 HK$’000 Agency commission paid to Guangdong White Horse Advertising Company Limited (‘‘GWH’’) (i) 1,625 306 Sales to GWH (ii) 9,209 1,734 Bus shelter maintenance and display fees (iii) 3,830 4,019 Creative services fees payable to GWH (iv) 1,412 1,412 (i) (ii) (iii) The agency commission paid to GWH was based on the standard percentage of gross rental revenue for outdoor advertising spaces payable to other major third party agencies used by the Group. On 11 May 2004, the WHA Joint Venture entered into a framework agreement for a fixed term of three years, which formalised the terms and conditions in the advertising commission agreement between the two parties. GWH is a related party of the Company because of one of the directors of the Company, Mr. Han Zi Dian, is able to exercise influence over the management and day-to-day operations as director and general manager of GWH and controls the composition of a majority of the board of directors of GWH from an indirect interest of 14.2% in GWH. The sales to GWH were made according to published prices and conditions similar to those offered to the major customers of the Group. Hainan White Horse Advertising Media Investment Company Limited (‘‘WHA Joint Venture’’) has entered into various agreements for the maintenance of bus shelters and the display of posters in the PRC with theWhiteHorseCompanies.WhiteHorseCompaniesareconsideredto be related parties of the Company due to the fact that one of the directors of the Company, Mr. Han Zi Dian, can exercise influence over the management of such White Horse Companies.
Page 2 and 3: CONTENTS 1 Financial Highlights 2 M
Page 4 and 5: 02 MANAGEMENT DISCUSSION AND ANALYS
Page 12 and 13: 10 CONDENSED CONSOLIDATED BALANCE S
Page 14 and 15: 12 CONDENSED CONSOLIDATED CASH FLOW
Page 16 and 17: 14 NOTES TO CONDENSED CONSOLIDATED
Page 28 and 29: 26 SUPPLEMENTARY INFORMATION Share
Page 30 and 31: 28 SUPPLEMENTARY INFORMATION The sh
Page 32 and 33: 30 SUPPLEMENTARY INFORMATION Media
Page 34 and 35: 32 FACTSHEET AT A GLANCE Shareholde
Page 36: 34 CORPORATE INFORMATION Principal

Interim Report 2005 - Clear Media

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?