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GB Auto and its Subsidiaries (S.A.E)
Notes to the Consolidated Financial Statements
For the year ended 31 December 2012
(In the notes all amounts are shown in thousand Egyptian pounds unless otherwise stated)
76
GB Auto
•
2012 ANNUAL REPORT
21. Trade payables and other credit balances
2012
2011
Trade payables
940,048
754,952
Advances from customers
86,483
57,053
Accrued expenses
75,165
24,364
Notes payables (Note 29)
73,234
44,006
Tax Authority
33,912
34,287
Other credit balances
28,279
60,577
Dividends payable
23,698
73,067
Deferred revenues
6,552
7,772
1,267,371
1,056,078
22. Bond payable
2012
2011
Current portion Long-term
portion
Total Current portion Long-term
portion
Total
Bond liabilities
230,769
384,615
615,384
307,692
615,385
923,077
Less
Bond transaction cost
(1,929)
(3,213)
(5,142)
(2,571)
(5,143)
(7,714)
Net
228,840
381,402
610,242
305,121
610,242
915,363
Bond issuance
The Group has opened the public subscription in bonds amounted to EGP 1 billion on 14 April 2010, and was closed on 2 May 2010.
The bond interest rate is 12% paid quarterly, and the first interest amounted to EGP 51,373 thousands was due and paid on 1 July
2010. The bond will be paid over 13 quarterly instalments, the first instalment will due on 1 January 2012. An amount of EGP 12M
was paid as transaction cost, which will be amortized over the Bonds’ life, as at 31 December 2012 the balance of this cost amounted
to EGP 5,142 thousands.
23. Share capital
2012
2011
Authorized capital (400 million shares with par value
EGP 1 each)
400,000
400,000
Issued and paid capital (129 million shares of EGP 1 each)
(in thousands)
129,000
129,000
Treasury shares write off (107 thousands share)
-
128,893
129,000
Treasury share write off
A number of 107,100 shares was written off by the Company and these shares were purchased at 29 March 2011 with purchasing cost
amounted to EGP 3,097 thousands including a par value for the shares amounted to EGP 107 thousands.
Public and private subscription
The Company increased its capital with an amount of EGP 33,163 thousands (shares with par value EGP 1 each) through private
and public subscription with total amount of EGP 1,208,855 thousands of which EGP 33,163 (share with par value EGP 1) and EGP
1,175,691 thousands (share premium) resulting in the issued and paid up capital becoming EGP 129,000 thousands. The capital