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This excerpt taken from the ELN 6-K filed Mar 30, 2009. f Investments
at 31 December:
Share-based compensation represents additional capital
contributions made to our subsidiaries to reflect the amounts
expensed by these subsidiaries for share-based compensation.
In May 2008 and September 2007, Elan International Services,
Ltd. (EIS) redeemed shares held by the parent company, which had
a carrying value of $60.0 million and $140.0 million,
respectively. The parent company recorded an
Table of Contents
Notes to the
Consolidated Financial Statements
intercompany receivable, repayable on demand, in the amount of
$60.0 million upon redemption in 2008 and
$140.0 million upon redemption in 2007.
In September 2007, the parent company transferred its interest
in Neuralab Limited to EIS. As consideration for the transfer,
EIS issued to the parent company shares with a value of
$191.3 million. This amount is the equivalent to the fair
value of Neuralab Limited at the date of the transfer. The
parent company recognised an intercompany gain on the disposal
of the investment in its subsidiary of $191.3 million
during 2007.
In August 2007, Elan Pharma Limited redeemed shares held by the
parent company, which had a carrying value of $Nil. The parent
company recorded an intercompany gain of $18.3 million
relating to the redemption.
In March 2007, the parent company sold shares it held in Axogen
Limited to EIS. As consideration for the shares, EIS issued to
the parent company shares with a value of $11.9 million.
This amount is the equivalent to the fair value of Axogen
Limited at the date of the transfer. The parent company
recognised an intercompany gain on the disposal of the
investment in its subsidiary of $11.9 million during 2007.
In March 2007, the parent company sold the shares in Elan
Capital Corporation, Ltd (ECC) to EIS. As consideration for the
shares, EIS issued to the parent company shares with a value of
$6.9 million. This amount is the equivalent to the fair
value of ECC at the date of the transfer. The parent company
recognised an intercompany loss on the disposal of the
investment in its subsidiary of $62.6 million during 2007.
This excerpt taken from the ELN 6-K filed Mar 31, 2008. h Investments
at 31 December:
Share-based compensation represents additional capital
contributions made to our subsidiaries to reflect the amounts
expensed by these subsidiaries for share-based compensation.
In September 2007, the parent company transferred its interest
in Neuralab Limited to Elan International Services, Ltd (EIS).
As consideration for the transfer, EIS issued to the parent
company shares with a value of $191.3 million. This amount
is the equivalent to the fair value of Neuralab Limited at the
date of the transfer. The parent company recognised an
intercompany gain on the disposal of the investment in its
subsidiary of $191.3 million during 2007.
Elan Corporation, plc 2007 Annual
Report 133
Table of Contents
In September 2007, EIS redeemed shares held by the parent
company, which had a carrying value of $140.0 million. The
parent company recorded an intercompany receivable, repayable on
demand, in the amount of $140.0 million upon redemption.
In August 2007, Elan Pharma Limited redeemed shares held by the
parent company, which had a carrying value of $Nil. The parent
company recorded an intercompany gain of $18.3 million
relating to the redemption.
In March 2007, the parent company sold shares it held in Axogen
Limited to EIS. As consideration for the shares, EIS issued to
the parent company shares with a value of $11.9 million.
This amount is the equivalent to the fair value of Axogen
Limited at the date of the transfer. The parent company
recognised an intercompany gain on the disposal of the
investment in its subsidiary of $11.9 million during 2007.
In March 2007, the parent company sold the shares in Elan
Capital Corporation, Ltd (ECC) to EIS. As consideration for the
shares, EIS issued to the parent company shares with a value of
$6.9 million. This amount is the equivalent to the fair
value of ECC at the date of the transfer. The parent company
recognised an intercompany loss on the disposal of the
investment in its subsidiary of $62.6 million during 2007.
In July 2006, the parent company sold the 12,000 shares it
held in Elan International Portfolios Limited (EIP) to EIS. As
consideration for the shares, EIS issued to the parent company
shares with a value of $9.8 million. This amount is the
equivalent to the fair value of EIP at the date of the transfer.
The parent company recognised an intercompany gain on the
disposal of the investment in its subsidiary of
$9.8 million during 2006.
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