Page 149 - Interloop Annual Report 2018-2019

NOTES TO THE UNCONSOLIDATED NOTES TO THE UNCONSOLIDATED

FINANCIAL STATEMENTS FINANCIAL STATEMENTS

FOR THE YEAR ENDED JUNE 30, 2019 FOR THE YEAR ENDED JUNE 30, 2019

39.2 Earnings per share - Diluted 43. TRANSACTIONS WITH RELATED PARTIES

There is a dilutive effect on the basic earnings per share of the Company, after taking into the effect of options granted on Company's shares to Related parties include subsidiary company, associated companies and undertakings, entities under common directorship, directors, major shareholders, key
employees of the Company under the Employee share option scheme (ESOS). Such dilution is based on the fair value of the Company's shares, which management personnel, employees benefit trust and post employment benefit plans. The Company in the normal course of business carries out transactions
is higher than the respective exercise price of options granted during the year. with various related parties. Amounts due from and to related parties are shown under the relevant notes to the financial statements. Remuneration to directors
2019 2018 and key management personnel is disclosed in note 42. Detail of transactions with related parties, other than those which have been specifically disclosed
elsewhere in these financial statements are as follows:
Profit for the year ( Rupees in '000) 5,194,767 3,885,809
Name Nature of transaction 2019 2018
Weighted average number of ordinary shares outstanding during the year (Numbers '000) 778,750 189,993 Rupees in ‘000
Add: Weighted average adjustment for assumed conversion of employees' share options (Numbers '000) - 49
Add: Bonus shares issued after the reporting period (Numbers in '000) - 571,831
IL Bangla Limited Sale of asset - 7,225
Weighted average number of shares for determination of diluted earnings per share 778,750 761,873 Expenses paid on behalf of associate - 7,452
Interest on receivables from IL Bangla Limited 5,796 -
Earncvings per share - diluted (Rupees) 6.6706 5.1003
IL Apparel (Pvt) Limited Expenses paid on behalf of subsidiary - 8,017
Yarn dyeing services provided 382 -
2019 2018 Sale of yarn and spare parts 4,433 -
Notes Rupees in ‘000 Sale of assets 4,171 -
Investment in share capital 499,000 -
40. CASH AND CASH EQUIVALENTS Share deposit money paid 200,000 -
Cash and bank balances 19 1,538,564 193,687 Interloop Holdings (Pvt) Limited Expenses paid on behalf of associate 200 1,295
Short term investments - Term Deposit Receipts (TDRs) 18 941,255 - Finance management services received from Interloop Holdings
2,479,819 193,687 (Pvt) Ltd 7,500 -
Sale of assets 22,323 -
41. RECONCILIATION OF MOVEMENT OF LIABILITIES TO CASH FLOWS ARISING FROM FINANCING ACTIVITIES Loan obtained during the year 3,000,000 -
Loan repaid during the year 1,600,000 -
Balance Balance Mark up expense on loan from Interloop Holdings (Pvt) Ltd 83,651 -
as on July 01, 2018 Non Cash Changes Cash Flows as on June 30, 2019
Interloop Limited ESOS Management
Rupees in ‘000 Trust Funds transfer for payment to withdrawal cases under ESOS - 500
Long term financing 3,216,476 - 1,659,460 4,875,936 Payment received on behalf of ESOS Management Trust - net 838 -
Liabilities against assets subject to finance lease 1,085 (238) (847) -
Interloop Welfare Trust Sale of assets 1,214 -
Short term borrowings 15,180,937 - (3,454,937) 11,726,000
Texlan Center (Pvt) Limited Sale of assets 58,100 20,766
Dividend to ordinary shareholders 475,276 1,090,247 (1,434,588) 130,935 Sale of yarn 644,549 60,683
Issued, subscribed and paid up capital 1,901,104 5,718,313 1,102,558 8,721,975 Global Veneer Trading Limited Selling commission 884,278 282,630
Share premium net of transaction cost 30,255 (21,629) 3,782,976 3,791,602
Eurosox Plus BV Sale of socks 693,658 15,863
20,805,133 6,786,693 1,654,622 29,246,448 Reimbursement of expenses 5,129 3,234
42. REMUNERATION TO CHIEF EXECUTIVE, DIRECTORS AND EXECUTIVES Key management personnel and other Sale of vehicle 5,551 -
2019 related parties
Chief Executive Directors Executives House building finance loan 25,750 -
Rupees in ‘000 Mark up on house building finance loan 923 -
Repayment of loan 146,573 -
Managerial remuneration 24,008 28,779 232,094 Issuance of bonus shares 5,587,323 -
Medical allowance - - 5,912 Issuance of ordinary shares 3,000 -
Bonus 3,750 3,750 29,610 Dividend paid 1,400,733 -
Superannuation fund - 33,825 -
Meetings fee - 2,250 -
Staff retirement gratuity - - 14,967
Other allowances - - 57,011
27,758 68,604 339,594
Number of persons 1 6 60
2018
Chief Executive Directors Executives
Rupees in ‘000 2018 - 19
Interloop Limited Managerial remuneration 21,450 72,870 137,527 Annual Report
3,589
Medical allowance
-
-
13,750
3,400
Bonus
15,065
-
Staff retirement gratuity
-
7,732
-
Other allowances
-
16,200
24,850 86,620 180,113
146 Number of persons 1 9 42 147
The chief executive officer and directors are provided with company maintained cars.