Notes to the Financial Statements 30 June 2008 - Abterra

Notes to the Financial Statements30 June 200812. EARNINGS PER SHARE (CONT’D)Diluted earnings per share for the financial year ended 30 June 2008 is calculated based on the weightedaverage number of ordinary shares in issue during the year adjusted to assume conversion of all potentialdilutive ordinary shares of 218,461,540 (2007: 900,000,000) arising from the convertible notes and the netprofit is adjusted to eliminate the interest expense less the tax effect.13. CASH AND BANK BALANCESGroupCompany2008 2007 2008 2007$’000 $’000 $’000 $’000Cash and bank balances 4,179 1,802 1,236 1,605Fixed deposits 50,596 15,015 48,312 15,01554,775 16,817 49,548 16,620Fixed deposits of the Group amounting to $50,596,000 (2007: $15,015,000) are at effective annual interestrates ranging from 0.26% to 2.7% (2007: 3.47% to 4.735%).Fixed deposits of the Group and Company amounting to $48,312,000 (2007: $NIL) have been pledged tobanks for bills payable and bank loans granted to the Company and certain subsidiary companies.The maturity period for the fixed deposits ranging from 7 days to 14 days from the financial year end 30June 2008. In year 2007, the fixed deposits are placed on call.Cash and cash equivalents comprise:Group2008 2007$’000 $’000Continuing operations:Cash and bank balances 4,179 1,802Fixed deposits unpledged 2,284 15,015Bank overdrafts - (258)6,463 16,559Discontinued operations (Note 11):Cash and bank balances 60 -Bank overdrafts (228) -(168) -6,295 16,55974ABTERRAAnnual Report 2008