ZaraAnnual-English2013

For the purpose of the consolidated statement of cash flows, cash and cash equivalents comprise of the following:
15. Long-Term Loans
2013 2012
JD
JD
This item consists of the following:
Cash on hand and at banks 15,926,067 20,586,114
Bank overdraft (Note 16) (2,382,697) (1,121,423)
13,543,370 19,464,691
Loan instalments
2013 2012
Currency Short-Term Long-Term Total Short-Term Long-Term Total
JD JD JD JD JD JD
Syndicated loan – Jordan Hotels and Tourism Co.
14. Equity
Authorized Capital
The Company’s authorized capital is 150,000,000 shares with JD 1 par value per share according to the resolution of the Board of
Commissioners of Jordan Securities Commission no. 340/2012 taken in its session dated 14 August 2012 to register 25,000,000
shares increase in capital at an issuance price of JD 1 per share via private placement to the Company’s shareholders. The
Company’s subscribed and paid-in capital is 148,256,589 shares at JD 1 par value per share as at 31 December 2013.
Advance Payments on Capital Increase
This account represents the Libyan Foreign Investments Company’s share of the capital increase. The Company concluded the
registration of these shares on 11 March 2013.
Statutory Reserve
As required by the Jordanian Companies Law, 10% of the annual profit before taxation is to be transferred to statutory reserve.
The reserve is not available for distribution to shareholders. The Company may stop this transfer to statutory reserve when its
balance reaches 25% of the authorized share capital.
Voluntary Reserve
The accumulated amounts in this account represent cumulative appropriations not exceeding 20% of the annual profit before
taxation. This reserve is available for distribution to shareholders.
USD 1,183,333 2,366,667 3,550,000 1,183,333 3,550,000 4,733,333
Syndicated loan – Jordan Hotels and Tourism Co.
JOD 500,000 1,000,000 1,500,000 500,000 1,500,000 2,000,000
Arab Bank – Amman Tourism Investment Co.
USD 1,520,000 6,080,000 7,600,000 1,520,000 7,600,000 9,120,000
Arab Bank – Zara Investment Holding Co.
JOD 1,480,000 5,920,000 7,400,000 1,480,000 7,400,000 8,880,000
Syndicated loan – Zara Investment Holding Co.
USD 3,332,300 13,403,100 16,735,400 3,332,300 16,735,400 20,067,700
International Finance Corporation – Zara Investment Holding Co. (1)
USD 4,017,192 12,251,233 16,268,425 4,017,192 16,268,425 20,285,617
International Finance Corporation – Zara Investment Holding Co. (2)
USD - - - 424,800 - 424,800
12,032,825 41,021,000 53,053,825 12,457,625 53,053,825 65,511,450
74 Consolidated Financial Statements Annual Report 2013 75