Annual Report - 2008 - Colombo Stock Exchange

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Ceylon Theatres PLC | Annual Report 2008 | 82Notes to the AccountsGroupCompany008 2007 2008 2007Rs ‘000 Rs ‘000 Rs’000 Rs ‘00030.2 Total LiabilitiesFood & Beverage 6,387,402 8,166,844 - -Property Development 4,319,665 3,914,533 - -Ceramics, and Tiles Wooden Flooring 1,587,908 3,247,375 - -Plantations 1,011,953 963,280 - -Entertainment 494,768 923,482 493,404 209,040Packaging & Others 488,187 236,260 - -14,289,883 17,451,774 493,404 209,040Consolidation adjustments / eliminations (44,188) (4,249,401) - -14,245,695 13,202,373 493,404 209,04030.3 Capital ExpenditureFood & Beverage 1,015,282 905,548 - -Property Development 8,209 1,115,321 - -Ceramics, Tiles and Wooden Flooring 284,518 312,270 - -Plantations 187,900 79,876 - -Entertainment 11,312 2,684 11,312 255Packaging & Others 272,911 12,383 - -1,780,132 2,428,082 11,312 25530.4 DepreciationFood & Beverage 506,884 526,576 - -Property Development 17,082 6,245 - -Ceramics, Tiles and Wooden Flooring 183,230 193,579 - -Plantations 72,625 47,153 - -Entertainment 2,145 1,364 673 2,387Packaging & Others 28,862 16,560 - -810,828 791,477 673 2,38731 Merger of Millers PLC with Ceylon Theatres PLCIn accordance with the resolution passed by the shareholders of Millers PLC and Ceylon Theatres PLC at an extraordinarygeneral meeting on 28th December 2008, an application was made under section 243 of the Companies Act No 7 of 2007 to theRegistrar of Companies to effect the merger of Millers PLC with Ceylon Theatres PLC.The Registrar of Companies issued the amalgamation certificate stating the date of amalgamation as 13th March 2008.Accordingly, The merger has taken effect on 13th March 2008. Millers PLC has been, in terms of Section 245(c) of the CompaniesAct been removed from the Register by the Registrar on the 13th March 2008 and it ceases to exist thereafter.The merger was effected by a share swap, where every minority shareholder of Millers PLC received 2 (two) shares of CeylonTheatres PLC for every 7 (seven) shares of Millers PLC held prior to the date of the merger with fractional shares being settled atRs 669.00 per share
Ceylon Theatres PLC | Annual Report 2008 | 8332 Related Party Transactions32.1 The details of transaction of company with such other group companies are given below -Company Name of Director Transactions Value (Rs)Millers PLC Mr. Anthony A Page Purchases 36(Up to the date of the merger) Mr. V R Page Loan facility 1,500Mr. L R PageMr. J C PageMr. A T P EdirisingheCargills (Ceylon) PLC Mr. Anthony A Page Purchases 91Mr. V R Page Loan facility 1,500Mr. L R PageMr. J C PageMr. A T P EdirisingheCargills Quality Dairies (Pvt) Ltd Mr. Anthony A Page Purchases 1,243Mr. V R PageMr. A T P EdirisingheHorana Plantations PLC Mr. Anthony A Page Office rental 1,737Re-imbursement of expenses 16CT Smith Stock Brokers (Pvt) Ltd Mr. Anthony A Page Sales 5,880Mrs. C K MuttukumaruCT Films (Pvt) Ltd Mr. Anthony A Page Interest free advances 5,817Mr. J C PageMr. L R PageMr. V R PageCT Properties Ltd. Mr. Anthony A Page Interest free advances 45,583Mr. J C PageMr. L R PageMr. V R PageMrs. C K MuttukumaruPE Management Consultancy (Pvt) Ltd Mr. A. T. P. Edirisinghe Consultancy services. 60
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