Annual Report 30 June 2007 - One Horizon Group

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20 NOTES TO THE FINANCIAL STATEMENTS (continued) 5. Particulars of employees (continued) Share options The following share options were granted by the Company, during the year, to employees of the Group, none of whom were Directors: 20 December 2006 162,538 Ordinary shares of 10 cents each As at 30 June 2007 the following options were outstanding under the Enterprise Management Incentive Scheme (“EMI”) and the Overseas Unapproved Scheme: Number Exercise price Exercise dates EMI approved (UK) 28,440 9.6 pence April 2008 – 2015 Unapproved (Overseas) 10,760 9.6 pence April 2008 – 2015 EMI approved (UK) 5,110 34.0 pence October 2008 – 2015 Unapproved (Overseas) 125,278 34.0 pence October 2008 – 2015 EMI approved (UK) 21,890 36.5 pence December 2009 – 2016 Unapproved (Overseas) 129,436 36.5 pence December 2009 – 2016 6. Directors’ emoluments The Directors’ aggregate emoluments in respect of qualifying services were: 30 June 2007 30 June 2006 $000’s $000’s Emoluments 555 481 Emoluments of highest paid Director: 30 June 2007 30 June 2006 $000’s $000’s Total emoluments 238 219 7. Finance costs 30 June 2007 30 June 2006 $000’s $000’s Finance charges 10 8 Interest on Directors’ and shareholders’ loans (note 23) 64 86 Interest on convertible loan stock 548 412 Amortisation of issue costs on convertible loan stock (note 19) 122 114 Bank interest and other similar charges payable 484 242 1,228 862
8. Earnings per share Basic earnings per share are based on the Group profit attributable to members of the Parent Company of $2,959,000 (2006: $1,981,000) and on 56,220,132 (2006: 51,132,380) being the weighted average number of shares in issue during the year. Diluted earnings per share are based on the profit attributable to members of the Parent Company including options held adjusted for the interest payable to the convertible bondholders less the relevant tax relief thereon being $3,424,982 (2006: $2,269,000) and on 66,854,101 (2006: 58,909,761) being the diluted weighted average number of shares in issue during the year. 9. Taxation on ordinary activities (a) Analysis of charge in the period 30 June 2007 30 June 2006 $000’s $000’s Current tax: UK taxation In respect of the period: UK Corporation tax based on the results for the year 33 329 Foreign tax Current tax on income for the year 761 580 Total current tax (note 9(b)) 794 909 Deferred tax: Origination and reversal of timing differences (note 21) (–) (19) Tax on profit on ordinary activities 794 890 (b) Factors affecting current tax charge The tax assessed on the profit on ordinary activities for the period is lower than the standard rate of corporation tax in the UK of 30% (2006: 30%). 30 June 2007 30 June 2006 $000’s $000’s Profit on ordinary activities before taxation 3,679 2,802 Profit on ordinary activities at 30% 1,103 841 Expenses not deductible for tax purposes 2 80 Capital allowances in period less than depreciation 1 20 Tax under provided in previous years – – Lower taxes on overseas earnings (215) (32) Losses arising in year not relieved against current tax (97) – Total current tax (note 9(a)) 794 909 21
Page 1 and 2: Annual Report 30 June 2007 SatCom G
Page 3 and 4: CONTENTS Chairman’s statement 2 C
Page 5 and 6: CHIEF EXECUTIVE’S STATEMENT Highl
Page 7 and 8: DIRECTORS, OFFICERS AND ADVISERS Di
Page 9 and 10: Share options No Directors had inte
Page 11 and 12: ut not absolute, assurance with reg
Page 13 and 14: INDEPENDENT AUDITORS’ REPORT to t
Page 15 and 16: GROUP BALANCE SHEET As at 30 June 2
Page 17 and 18: GROUP CASH FLOW STATEMENT Year ende
Page 19 and 20: 1. Accounting policies (continued)
Page 21: 4. Operating profit 30 June 2007 30
Page 25 and 26: 13. Tangible fixed assets Short Lea
Page 27 and 28: 15. Stocks Group Company 30 June 20
Page 29 and 30: 21. Deferred taxation The movement
Page 31 and 32: 24. Share capital Authorised share
Page 33 and 34: 27. Reconciliation of movements in
Page 35 and 36: HORIZON MOBILE COMMUNICATIONS HORIZ

Annual Report 30 June 2007 - One Horizon Group

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