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COMPANY 2005 2006 R’000 R’000

GROUP 2006 R’000

2005 R’000

6. Available-for-sale financial assets — — — — — — — —

— 12 045 (667) 463 11 841 — 11 841 11 841

At the beginning of the year Contingent consideration in respect of sale of 50% of FCC Revaluation to fair value Notional interest At the end of the year Listed Not listed

55 12 045 (641) 463 11 922 81 11 841 11 922

44 — 11 — 55 55 — 55

956 (478) 1 668 — 138 2 284

4 967 — 2 450 (6 535) 74 956

1 263 1 021 2 284

956 — 956

Available-for-sale financial assets, comprising the contingent consideration in respect of the FCC purchase price and marketable equity securities, are fair valued annually on the close of business on 30 June. For investments traded in active markets, fair value is determined by reference to stock exchange quoted bid prices. For other investments, fair value is estimated by reference to the current market value of similar instruments or by reference to the discounted cash flows of the underlying net assets. Available-for-sale financial assets are classified as non-current assets, unless they are expected to be realised within 12 months of the balance sheet date or unless they will need to be sold to raise operating capital. The estimated contingent consideration of R12,0 million is receivable from Matrix after the audited results for the year ending 30 June 2007 are finalised. The above available-for-sale financial assets were classified as non-current.

7. Financial assets and liabilities at fair value through profit and loss 7.1 — — — — — —

— — — — — —

— — —

— — —

Financial assets at fair value through profit and loss At the beginning of the year Disposal of 50% of FCC Fair value gains recognised in the income statement Fair value losses recognised in the income statement Effects of exchange rate changes At the end of the year Financial assets at fair value through profit and loss consist of derivatives where hedge accounting was not applied, and can be analysed as follows: Forward exchange contracts (current) Cross-currency swap (non-current) At the end of the year The increase in the fair value of the non-current derivative during the year was R4,9 million (2005: R10,1 million decrease), and the cumulative increase since designation is R1,0 million (2005: R3,6 million decrease). The maximum exposure to credit risk is equal to the outstanding balance. The total amount of financial assets at fair value through profit and loss comprises derivatives, and was thus classified as held for trading on initial recognition.

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Aspen Annual Report 2006

Profile for Aspen Holdings

Aspen Annual Report 2006  

Aspen Annual Report 2006