Page 113

COMPANY 2005 2006 R’000 R’000

GROUP 2006 R’000

2005 R’000

20. Interest-bearing deferred-payables — 23 194 — 23 194 — — 23 194

— 23 681 — 23 681 — — 23 681

— — —

— — —

20.1 Long-term interest-bearing deferred-payables Product participation rights FCC contingent consideration payable Deferred earn-out consideration

20.2

20.3 1)

2)

(1) (2)

Current portion of product participation rights (1) Current portion of deferred earn-out consideration Long-term interest-bearing deferred-payables Short-term interest-bearing deferred-payables Current portion of product participation rights (1) Current portion of deferred earn-out consideration Short-term interest-bearing deferred-payables Terms of repayment The amount initially recognised in respect of the product participation rights liability is determined by discounting future payments to their present values using an appropriate discount rate on initial recognition. The liabilities are subsequently carried at amortised cost, with interest being calculated at a fixed rate. The product participation rights in respect of the AstraZeneca, Novartis South Africa and GSK Australia co-marketing agreements are unsecured and the total outstanding amount was repaid in the current year. The estimated contingent consideration of R23,7 million (2005: R23,1 million) is payable to the FCC vendors after the audited results for the year ending 30 June 2007 are finalised. Carrying amounts

The carrying amounts and fair values of interest-bearing deferred-payables were as follows: AstraZeneca Novartis South Africa GSK Australia FCC Deferred earn-out consideration

2006 R’000 — — — 23 681 4 811 28 492

2005 R’000 1 039 30 119 14 722 23 194 2 774 71 848

COMPANY 2005 2006 R’000 R’000

— 23 681 4 811 28 492 — (4 811) 23 681

45 880 23 194 2 774 71 848 (45 880) (2 774) 23 194

— 4 811 4 811

45 880 2 774 48 654

Fair values 2006 R’000 — — — 23 681 4 665 28 346 GROUP 2006 R’000

2005 R’000 1 053 30 589 14 722 23 194 2 690 72 248

2005 R’000

21. Deferred revenue — — —

— — —

— — —

— — —

Created Effects of exchange rate changes Total deferred revenue at the end of the year Analysis of total deferred revenue Non-current Current Deferred revenue consists of licence fees received in advance and is recognised as income over the period of the agreement.

109

Aspen Annual Report 2006

2 241 362 2 603

— — —

2 082 521 2 603

— — —

Profile for Aspen Holdings

Aspen Annual Report 2006  

Aspen Annual Report 2006