ANNUAL REPORT 2012 - TiGenix

(8) Disposal group held for sale
The disposal group held for sale in 2011
relates to the classification of TiGenix Ltd, a
100 % subsidiary of TiGenix, as held for sale.
However, in November 2012, TiGenix decided
to close TiGenix Ltd, to fully focus on the
further commercial roll-out of ChondroCelect
and its cell therapy product development
pipeline. As a result, Tigenix Ltd has ceased all
commercial activities and has given notice of
the closing to third parties concerned.
As a result of the decision to close the
company and stop all activities, TiGenix Ltd
can no longer be classified as held for sale
at closing 2012 in accordance with IFRS 5.
As such, the remaining assets (KEUR 207)
and liabilities (KEUR 649) of TiGenix Ltd are
consolidated within the different line items of
the consolidated balance sheet of TiGenix.
Additionally, the losses for the period of
the discontinued operations include all the
expenses related to the closing of TiGenix Ltd.
Details of the figures that were presented in
2011 on the statement of financial position as
disposal group held for sale are presented
below :
Years ended December 31
Thousands of Euro (€) 2012 2011 2010
NON-CURRENT ASSETS HELD FOR SALE
Property, plant and equipment 0 127 0
Inventories 0 406 0
Trade and other receivables 0 150 0
Other current assets 0 45 0
Cash and cash equivalents 0 420 0
Total 0 1,149 0
LIABILITIES RELATED TO NON-CURRENT ASSETS HELD FOR SALE
Trade and other payables 0 -145 0
Other current liabilities 0 -12 0
Total 0 -157 0
Net assets of disposal group held for sale 0 992 0
133