AEG 21604 G Manual do Utilizador descarregar pdf (Página 437)

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Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand and short-term deposits with an original maturity

of three months or less. The carrying amounts of these approximate their fair value.

Dividends payable

Dividends payable are recognised as a liability in the year in which they are declared and paid.

Other assets and liabilities

Other assets and liabilities are not interest bearing and are stated at their nominal value.

Trust account

The cash in trust comprises the net proceeds of the IPO, the cash received in a private placement of the Sponsor

Warrants in the amount of € 6,000,000 and € 5,000,000 of the underwriting fee that the underwriters have agreed

to defer until the completion of a Business Combination. The balance on the trust account at 31 December 2008

was € 249,914,110. A balance of € 247,199,305 was invested in The Deutsche Global Liquidity Series PLC

Money Market Fund with the remaining balance held by Deutsche Bank International Limited, Guernsey. The

amount held in trust will only be freely available to the Company upon completion of a Business Combination,

as set out in the Prospectus dated 2 July 2008 published by the Company, as supplemented by the supplemental

prospectus dated 14 July 2008. The cash in trust is under supervision of Carey Commercial Limited, acting as

Trustee. As the Company has the right to the interest received on the trust account (up to € 4,300,000) and can

direct how the trust account is invested it is treated as an asset of the Company.

Financial liabilities and equity instruments issued by the Company

Classification as debt or equity

Debt and equity instruments are classified as either financial liabilities or as equity in accordance with the sub-

stance of the contractual arrangement.

Equity instruments

An equity instrument is any contract that evidences a residual interest in the assets of an equity after deducting

all of its liabilities. Equity instruments are recorded at the proceeds received, net of direct issue costs.

The ordinary redeemable Shares and Warrants have been classified as equity as they do not have a defined right

to either income or assets of the Company.

Principles for the Cash Flow Statement

The Cash Flow Statement has been drawn up according to the indirect method, separating the cash flows from

operating activities, investing activities and financing activities. The net result has been adjusted for amounts in

the Income Statement and movement in the Balance Sheet which have not resulted in cash income or expendi-

ture in the period.

The cash amounts in the Cash Flow Statement include those assets that can be converted into cash without any

restrictions and without any material risk of decreases in value as a result of the transaction. Dividends that have

been proposed and declared are included in the cash flow from financing activities.

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AEG 21604 G Manual do Utilizador Página 437

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