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REG-Energiser Invts PLC Half Yearly Report - Part 2 Released: 30/09/2009
Part 2 : For preceding part double-click [nRnsd8904Z]
contractual rights to receive the cash flows of the asset have been transferred
or the Group retains the contractual rights to receive the cash flows of the
asset but assumes a contractual obligation to pay the cash flows to one or more
recipients. A financial asset that is transferred qualifies for derecognition if
the Group transfers substantially all the risks and rewards of ownership of the
asset, or if the Group neither retains nor transfers substantially all the risks
and rewards of ownership but does transfer control of that asset.
Financial liabilities
Financial liabilities are obligations to pay cash or other financial assets and
are recognised when the Group becomes a party to the contractual provisions of
the instrument. Financial liabilities are recorded initially at fair value, net
of direct issue costs.
They are recorded at amortised cost using the effective interest method, with
interest-related charges recognised as an expense in finance cost in the income
statement. Finance charges, including premiums payable on settlement or
redemption and direct issue costs, are charged to the income statement on an
accruals basis using the effective interest method and are added to the carrying
amount of the instrument to the extent that they are not settled in the period
in which they arise.
A financial liability is derecognised only when the obligation is extinguished,
that is, when the obligation is discharged or cancelled or expires. When the
obligation is extinguished by conversion to equity, a gain or loss is recognised
in respect of the difference between the carrying value of the debt compared to
the fair value of the shares issued.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and demand deposits, together
with other short-term, highly liquid investments that are readily convertible
into known amounts of cash and which are subject to an insignificant risk of
changes in value.
Financial instruments and IFRS 1 - exemptions utilised by the Group
Designation of previously recognised financial instruments
The Group has elected to designate certain financial instruments at the date of
transition to IFRS as a financial asset or financial liability at fair value
through profit or loss.
Equity
Equity comprises the following:
* "Share capital" represents the nominal value of equity shares.
* "Share premium" represents the excess over nominal value of the fair value of
consideration received for equity shares, net of expenses of the share issue.
* "Profit and loss reserve" represents retained profits.
* "Merger reserve" represents the excess of the nominal value of shares issued
in the acquisition of a subsidiary undertaking and the nominal value of those
shares.
Foreign currencies
Transactions in foreign currencies are translated at the exchange rate ruling at
the date of the transaction. Monetary assets and liabilities in foreign
currencies are translated at the rates of exchange ruling at the balance sheet
date. Non-monetary items that are measured at historical cost in a foreign
currency are translated at the exchange rate at the date of the transaction.
Non-monetary items that are measured at fair value in a foreign currency are
translated using the exchange rates at the date when the fair value was
determined.
Any exchange differences arising on the settlement of monetary items or on
translating monetary items at rates different from those at which they were
initially recorded are recognised in the profit or loss in the period in which
they arise. Exchange differences on non-monetary items are recognised in the
statement of changes in equity to the extent that they relate to a gain or loss
on that non-monetary item taken to the statement of recognised income and
expenses, otherwise such gains and losses are recognised in the income
statement.
3. Additions and disposals of investments
The following tables shows the significant additions and disposals of
investments.
Listed Unlisted Total
investments
£'000 £'000 £'000
Carrying amount at 1January 2009 217 49 266
Purchases 45 - 45
Disposals (154) - (154)
Fair value adjustments 36 - 36
--------------- --------------- ---------------
Carrying amount at 30June 2009 144 49 193
============ ============ ============
Listed Other unlisted Total
investments
£'000 £'000 £'000
Carrying amount at 1January 2008 1,025 626 1,651
Additions 85 - 85
Disposals (9) - (9)
Fair value adjustments (98) (577) (675)
--------------- --------------- ---------------
Carrying amount at 30June 2008 1,003 49 1,052
============ ============ ============
Listed Other Total
unlisted
investments
£'000 £'000 £'000
Carrying amount at 1January2008 1,025 626 1,651
Additions 155 - 155
Disposals (759) - (759)
Fair value adjustments (204) (577) (781)
--------------- --------------- ---------------
Carrying amount at 31December 2008 217 49 266
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4. Basic and diluted loss per share from total and continuing operations
The calculation of the basic loss per share is based on the losses attributable
to ordinary shareholders divided by the weighted average number of shares in
issue during the period.
The losses and weighted average number of shares used in the calculations are
set out below.
6 months to 30 June 2009
Losses attributable to ordinary shareholders £147,000
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Weighted average number of shares 28,309,596
---------------
Basic loss per share (0.52)p
============
6 months to 30 June 2008
Losses attributable to ordinary shareholders £(839,000)
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Weighted average number of shares 10,603,835
---------------
Basic loss per share (7.91)p
============
Year ended 31 December 2008
Losses attributable to ordinary shareholders £(1,250,000)
---------------
Weighted average number of shares 12,204,639
---------------
Basic earnings per share (10.24)p
============
Diluted earnings per share is taken as equal to basic earnings per share as the
Group has recorded a loss and therefore the effect of including share options is
anti-dilutive.
COMPANY INFORMATION
The Company is a public limited company registered in England and Wales. The
registered office and principal place of business is 2 Anglo Office Park, 67
White Lion Road, Amersham, Bucks. HP7 9FB
The Company's interim results are available to view at the Company's website:
www.energiserinvestments.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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