SEO Version
FORTERRA
ANNUAL REPORT 2013
NOTES TO THE
FINANCIAL STATEMENTS
115
19
OTHER GAINS (CONTINUED)
Sale of Central Plaza (Continued)
2013
$’000
Investment property
(374,313)
Plant and equipment
(21)
Trade and other receivables
(1,061)
Cash and cash equivalents
(11,378)
Deferred tax liabilities
77,297
Interest-bearing borrowings
13,112
Amounts due to other group entities by the disposed subsidiaries*
76,207
Trade and other payables
9,442
Net assets disposed of
(210,715)
Gain before transaction costs
41,866
Transaction costs including withholding tax
(24,675)
Foreign currency translation reserve transferred to profit or loss
773
Net gain on the disposal
17,964
Included in transaction costs is a divestment fee of $1,809,000 paid to the Trustee-Manager in
accordance with the Trust Deed.
2013
$’000
Sale consideration for Central Plaza
249,107
Post-closing adjustment to the consideration, satisfied in cash
3,474
Proceeds from the buyer’s repayment of amount due to
other group entities by the disposed subsidiaries*
76,207
Repayment of the outstanding bank loans
(139,418)
Cash of the subsidiaries which hold Central Plaza disposed of
(11,378)
Cash inflow from the disposal of subsidiaries
177,992
*
Pursuant to the SPA, the buyer took over and repaid the amount due to other group entities by the
disposed subsidiaries.
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