Download our latest Annual Report for 2009 [PDF] - East West ...

Ambrian Capital plcAnnual Report & Accounts 2009OverviewBusiness reviewGovernanceFinancial statements 47Shareholder information9 Statement of movement on reserves (continued)Analysis of other reservesRestatedShare-basedpaymentreserve£Employeebenefittrust£At 1 January 2009 835,281 (5,880,660) (1,092,831) (6,138,210)Share-based payment charge prior year adjustment 1,720,180 – – 1,720,180Restated at 1 January 2009 2,555,461 (5,880,660) (1,092,831) (4,418,030)Share-based payment charge 1,084,214 – – 1,084,214Purchase of shares – (232,960) (1,058) (234,018)Sale of shares – 770,913 – 770,913Balance at 31 December 2009 3,639,675 (5,342,707) (1,093,889) (2,796,921)During the year the Company loaned £94,395 (2008: £841) to an Employee Benefit Trust set up by the subsidiary company, Ambrian PartnersLimited. The Employee Benefit Trust used the loan, together with excercise proceeds, to purchase 737,396 shares (2008: 87,963) in the Company.10 Reconciliation of movements in shareholders’ fundsProfit/(loss) for the financial year 2,199,808 (6,074,201)Dividends paid (1,443,331) (1,719,553)FRS 20 share option charge 1,084,214 1,326,133Purchase of shares (234,018) (930,455)Sales of shares 138,565 –Net increase/(reduction) to shareholders’ funds 1,745,238 (7,398,076)Opening shareholders’ funds 29,533,805 36,931,881Closing shareholders’ funds 31,279,043 29,533,805Treasuryshares£11 Share optionsThe Company has a share option scheme under which options to subscribe for the Company’s shares have been granted to the directors andother persons. Full details of the share options currently in existence are set out in note 21 to the consolidated financial statements.12 Capital commitmentsThere were no capital commitments as at 31 December 2009 or at 31 December 2008.13 Contingent liabilitiesThere were no contingent liabilities as at 31 December 2009 or at 31 December 2008.14 Guarantees and other financial commitmentsThe Company has granted a US$10,000,000 guarantee (2008: US$10,000,000) to a consortium of banks that provide trade finance facilities toAmbrian Metals Limited.15 Post balance sheet eventsSince the year end the Company has engaged in the following material events:• the establishment of Ambrian Principal Investments Limited, a wholly owned Jersey registered subsidiary of the Company which holdsprincipal investments for the Group and is managed by Ambrian Asset Management Limited;• the establishment of Ambrian Resources AG (ARAG), a Swiss-based private equity business. The Company owns 80% of ARAG’s share capital.16 Transactions with related partiesDetails of transactions with directors are given in note 6 to the consolidated financial statements.The Company has taken advantage of the exemption conferred by Financial Reporting Standard 8 “Related party disclosures” not to disclosetransactions with its wholly owned subsidiaries.There were no other related party transactions.2009£Total£Restated2008£