Tabreed 06 Prospectus - London Stock Exchange

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NATIONAL CENTRAL COOLING COMPANY (PJSC) NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 31 March 2006 (Unaudited) 6 PROPERTY, PLANT AND EQUIPMENT Land, plant Office equipment and Furniture and Motor buildings and fixtures instruments vehicles Total AED ’000 AED ’000 AED ’000 AED ’000 AED ’000 Cost at 31 March 2006....................................... 1,193,368 6,643 15,553 2,099 1,217,663 Accumulated depreciation at 31 March 2006 .... (114,135) (4,147) (6,882) (1,229) (126,393) Net carrying amount at 31 March 2006 before provision for impairment................................ 1,079,233 2,496 8,671 870 1,091,270 Provision for impairment ................................... (197) — — — (197) Net carrying amount at 31 March 2006 ............ 1,079,036 2,496 8,671 870 1,091,073 Net carrying amount at 31 December 2005....... 991,586 2,710 8,851 961 1,004,108 7 CASH AND CASH EQUIVALENTS Cash and cash equivalents included in the statement of cash flows include the following balance sheet amounts: 31 March 31 March 2006 2005 AED ’000 AED ’000 Bank balances and cash..................................................................................... 428,751 219,576 Bank overdrafts ................................................................................................. (119,274) (46,706) 8 TERM LOANS 309,477 172,870 31 March 31 December 2006 2005 AED ’000 AED ’000 Term loans......................................................................................................... 460,927 419,097 Other loan.......................................................................................................... 122 155 461,049 419,252 Due in less than one year Term loans......................................................................................................... 10,759 25,291 Other loan.......................................................................................................... 122 125 10,881 25,416 Due in more than one year Term loans......................................................................................................... 450,168 393,806 Other loan.......................................................................................................... — 30 F-9 450,168 393,836 461,049 419,252
NATIONAL CENTRAL COOLING COMPANY (PJSC) NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 31 March 2006 (Unaudited) 9 ISLAMIC FINANCING ARRANGEMENTS 31 March 31 December 2006 2005 AED ’000 AED ’000 Ijara loans .......................................................................................................... 324,323 324,323 Istisna’a loans .................................................................................................... 180,075 180,075 Muqawala loans................................................................................................. 145,824 146,440 650,222 650,838 Due in more than one year: Ijara loans .......................................................................................................... 308,809 308,809 Istisna’a loans .................................................................................................... 180,075 180,075 Muqawala loans................................................................................................. 131,647 132,263 620,531 621,147 Due in less than one year: Ijara loans .......................................................................................................... 15,514 15,514 Muqawala loans................................................................................................. 14,177 14,177 29,691 29,691 650,222 650,838 10 SHARE CAPITAL 31 March 31 December 2006 2005 AED ’000 AED ’000 Authorised and issued share capital 1,000,000,000 (31 December 2005: 1,000,000,000) ordinary shares at AED 1 each................................................................................................................ 1,000,000 1,000,000 The Company’s authorised share capital was increased to 100,000,000 ordinary shares at the Extra- Ordinary General Meeting held in March 2005 by way of a rights issue. The rights issue was fully subscribed to at 19 April 2005. Further, at the Extra-Ordinary General meeting held on July 2005, the shareholders approved the split of the nominal value of the Company’s shares from AED 10 to AED 1. At the Annual General Meeting held on 20 March 2006, the shareholders approved the proposed issue of bonus shares. The registration of the bonus shares was completed in the Company’s share register on 3 April 2006. 11 CAPITAL COMMITMENTS The Board of Directors have authorised future capital expenditure amounting to AED 1,241 million (31 December 2005: AED 1,241 million). F-10
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TABREED 06 FINANCING CORPORATION (i
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Table of Contents Page STRUCTURE DI
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above, the Dissolution Distribution
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OVERVIEW OF THE OFFERING This follo
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‘‘Margin’’ means 1.25 per c
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Redemption for Tax Reasons accordan
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Lease Agreement Date. The balance s
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(d) fourth, only if such payment is
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Governing Law The Declaration of Tr
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Legionnaire’s Disease Tabreed is
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Enforcement of Liabilities Ultimate
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TERMS AND CONDITIONS OF THE CERTIFI
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3 Status - Limited Recourse 3.1 Sta
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4.3 Late Payment Amounts Received I
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(i) the amount of any liability in
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(d) if LIBOR cannot be determined i
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8.6 Agents act solely as agents of
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‘‘Total Loss Event’’ means
Page 37 and 38: 13.2 The Trustee shall not be bound
Page 39 and 40: 19 Governing Law and Submission to
Page 41 and 42: transferred into the names of holde
Page 43 and 44: Issuer. Unless otherwise agreed, th
Page 45 and 46: Under the Lease Agreement, if Tabre
Page 47 and 48: USE OF PROCEEDS The proceeds of the
Page 49 and 50: * Manufacturing: Tabreed, in conjun
Page 51 and 52: * High barriers to entry. District
Page 53 and 54: Detailed customer profile of plants
Page 55 and 56: Contractual Overview Contracts for
Page 57 and 58: Servicing Ian Banham and Associates
Page 59 and 60: Tabreed Bahrain is setting up its f
Page 61 and 62: Plants Expected Commissioning Date
Page 63 and 64: * Dany Safi, Chief Executive Office
Page 65 and 66: Marketing district cooling services
Page 67 and 68: TABREED 06 FINANCING CORPORATION In
Page 69 and 70: TAXATION The following is a general
Page 71 and 72: THE UNITED ARAB EMIRATES The UAE is
Page 73 and 74: The growth of Dubai began in the ea
Page 75 and 76: Saudi Arabia Any investor in the Ki
Page 77 and 78: GENERAL INFORMATION 1. It is expect
Page 79 and 80: FINANCIAL INFORMATION AED Interim C
Page 81 and 82: ERNST &YOUNG P.O. Box 136 11th Floo
Page 83 and 84: NATIONAL CENTRAL COOLING COMPANY (P
Page 87: NATIONAL CENTRAL COOLING COMPANY (P
Page 91 and 92: ERNST &YOUNG P.O. Box 136 11th Floo
Page 119 and 120: National Central Cooling Company PJ
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NATIONAL CENTRAL COOLING COMPANY (P
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Registered/Head Office of the Issue
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Tabreed 06 Prospectus - London Stock Exchange

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