FY 2012 - Investor Relations - NIS

In 2012, the Company established the following companies:--Naftagas-Naftni servisi d.o.o., Novi Sad. As at 31 December 2012 the total registered equity of the new companyamounts to RSD 3,579,983 (non-cash contribution RSD 3,579,930).--NTC NIS-Naftagas d.o.o., Novi Sad. As at 31 December 2012 the total registered equity of the new companyamounts to RSD 321,500 (non-cash contribution RSD 321,447).--Naftagas-Tehnicki servisi d.o.o., Zrenjanin. As at 31 December 2012 the total registered equity of the newcompany amounts to RSD 1,044,554 (non-cash contribution RSD 1,044,501).--Naftagas-Transport d.o.o., Novi Sad. As at 31 December 2012 the total registered equity of the new companyamounts to RSD 327,751 (non-cash contribution RSD 327,695).In accordance with the Decision on founding and transfer of equity in kind to newly formed subsidiaries (Naftagas-Naftniservisi d.o.o. Novi Sad, Naftagas-Tehnicki servisi d.o.o. Zrenjanin, NTC NIS-Naftagas d.o.o. Novi Sad and Naftagas-Transport d.o.o. Novi Sad), the Company has transferred intangible assets, property, plant and equipment in total of RSD5,922,522 and inventories of material, tools and other assets in total of RSD 704,943.For the amount above the subscribed capital the Company has recognized receivable from sales of property, plant,equipment, material and tools. The assets were sold at book value.(2) Financial assets available for sale31 December 2012 31 December 2011In shares 2,132,741 2,172,998In stakes 28,264 31,264Other - 7,2952,161,005 2,211,557Less: Provision (1,983,325) (1,986,325)177,680 225,232Investments in other legal entities as at 31 December 2012 relate to the following companies:Company Investment ImpairmentNet bookvalueShare %HIP Petrohemija а.d., Pančevo, Serbia 1,682,522 (1,682,522) - 12,72%MSK а.d., Kikinda, Serbia 265,507 (265,507) - 10,10%Prokons, Subotica, Serbia 91,227 - 91,227 20,15%Maco nafta, Skopje, Macedonia 47,185 - 47,185 49,00%Linde Gas Serbia а.d, Bečej, Serbia 4,269 (4,269) - 12,44%SPC Pinki, Belgrade, Serbia 174 - 174 46,16%Other legal entities 70,121 (31,027) 39,094 5,89%2,161,005 (1,983,325) 177,680Available for sale financial assets include the following:Listed securities, quoted on BELEX:31 December 2012 31 December 2011- shares 170,550 218,101Unlisted securities:- shares 7,130 7,131Movements on the available for sale financial assets:177,680 225,2322012 2011As at 1 January 225,232 186,154Transfer - 61,878Fair value adjustments (40,020) (22,800)Disposal (7,159) -Other (373) -As at 31 December 177,680 225,232Movements on the provision for available for sale financial assets:2012 2011As at 1 January (1,986,325) (2,202,985)Write-off of investment in:- Beogradska Banka - in bankruptcy a.d., Belgrade - 200,057- Jugobanka - in bankruptcy a.d., Belgrade - 23,416- Other - 455Transfers and other movements 3,000 (7,268)(1,983,325) (1,986,325)Fair value of other investments traded in an active market is determined based on the current market value at thereporting date.198 • FINANCIAL STATEMENTS Annual report for 2012Annual report for 2012FINANCIAL STATEMENTS • 199