53 |
P a g e
TRINIDAD CEMENT LIMITED
SECTION 7: CONSOLIDATED PROFORMA STATEMENT OF FINANCIAL POSITION
(Continued)
7.3 STATEMENT OF PROFORMA FINANCIAL POSITION
(Continued)
The information in this section should be read in conjunction with the forward-looking statements on page 10.
NOTE 1. ASSUMPTIONS TO THE PROJECTED STATEMENT OF FINANCIAL POSITION
Basis of Compilation
The accompanying projected consolidated statement of financial position as at 1 April 2015 is prepared on a basis
consistent with International Financial Reporting Standards (IFRS).
The projected financial statements have been compiled using certain assumptions about future events and the
planned restructuring plan and initiatives contemplated by the Board.
Assumptions
1.
Net Proceeds of the Issue
The net proceeds of the Issue are assumed to be $354,365,776.20 as disclosed in this Information Memorandum.
It is assumed that there will be 374,647,704 issued ordinary shares after the Rights Issue.
2.
Debt
The recapitalization of the Company will be concurrent with the negotiation of debt agreement with the lenders.
It is assumed that the Company will no longer be in default with its lenders and as such, the debt will be
reclassified between current and long term liabilities, as the full quantum of the outstanding debt due would no
longer be deemed callable, and therefore treated as a short term liability.
