Annual Report 30 June 2007 - One Horizon Group

Recommendations

Info

28 NOTES TO THE FINANCIAL STATEMENTS (continued) 23. Related party transactions During the current and previous year no individual had overall control of the Parent Company, SatCom Group Holdings Plc. SatCom Group Holdings Plc has taken advantage of the exemption under FRS 8 paragraph 3(a) and 3(b), not to disclose Group entity transactions. Amounts due to Directors during the year were as follows: Opening Loans introduced/ Interest paid Closing Balance (repaid) at 4% Balance Name $’000’s $’000’s $’000’s $’000’s Mark White 944 (424) 36 556 Sandy Johnson 337 6 13 356 Martin Ward – 13 – 13 1,281 (405) 49 925 The movement on the shareholder loan included in other creditors is: Opening Loans introduced/ Interest paid Closing Balance (repaid) at 4% Balance Name $’000’s $’000’s $’000’s $’000’s Adam Thompson 392 (5) 15 402 SatCom Distribution Limited incurred consultancy costs in the period in the amount of €297,660 (2006: €297,660) from Satellite Communications Consultancy BVBA. Satellite Communications Consultancy BVBA is a company incorporated in Belgium and was controlled by the director Mark White.
24. Share capital Authorised share capital: 30 June 2007 30 June 2006 $000’s $000’s 500,000,000 Ordinary shares of $0.10 each 50,000 50,000 50,000 Deferred shares of £1 each 90 90 Allotted and called up: 50,090 50,090 30 June 2007 30 June 2006 Number 000’s $000’s Number 000’s $000’s Ordinary shares of $0.10 each 59,629 5,963 51,599 5,160 Deferred shares of £1 each 50 90 50 90 6,053 5,250 Ordinary shares of 10 cents each issued during the year were issued for the following allotment prices in sterling (pence) and converted into US dollars at the rate applicable on the receipt of funds by the Company: Number Aggregate Allotment Allotted Date of shares nominal value price fully paid up for: Jul 2006 203,960 $20,396 9.6 pence Cash under share option scheme Jul 2006 322,580 $32,258 31.0 pence Cash Aug 2006 3,333,436 $333,344 35.6 pence Partial consideration for acquisition of WCC Sep 2006 510,740 $51,074 31.825 pence Partial consideration for acquisition of HMC Apr 2007 3,653,276 $365,328 32.0 pence Cash May 2007 5,830 $583 9.6 pence Cash under share option scheme Costs relating to the issue of shares during the year totalling $101,480 were debited to the Share Premium account. 29
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 and 22: 4. Operating profit 30 June 2007 30
Page 23 and 24: 8. Earnings per share Basic earning
Page 25 and 26: 13. Tangible fixed assets Short Lea
Page 27 and 28: 15. Stocks Group Company 30 June 20
Page 29: 21. Deferred taxation The movement
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

Create successful ePaper yourself

Delete template?

Save as template?