FRENCKEN GROUP LIMITED
ANNUAL REPORT 2015
95
NOTES TO FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015 (CONT’D)
22 CASH AND CASH EQUIVALENTS (CONT’D)
Details of the consideration paid, the assets acquired and liabilities assumed, the non-controlling interest recognised
and the effect on the cash flows of the Group, at the acquisition date, were as follows:
(a) Purchase consideration
2014
NTZ
$’000
Cash paid as purchase consideration
4,356
(b) Effect on cash flows of the Group
2014
NTZ
$’000
Cash paid (as above)
4,356
Less: Cash and cash equivalents (net of bank overdrafts) in subsidiaries acquired
(107)
Cash outflow on acquisition
4,249
(c) Identified assets acquired and liabilities assumed
At fair values
2014
NTZ
$’000
Property, plant and equipment
2,229
Intellectual Properties
14
Patents
1,970
Inventories
1,009
Trade and other receivables
1,472
Cash and cash equivalent
107
Trade and other payables
(4,072)
Other bank borrowings
(686)
Identifiable net assets acquired
2,043
Add: Goodwill arising from acquisition
2,313
Consideration transferred for the business
4,356
(d) Acquisition-related costs
Acquisition-related costs of $14,000 were included in “administrative expenses” in the consolidated income
statement and in operating cash flows in the consolidated cash flow statement in the last financial year.
