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ICI » Topics » Part 2 Pro Forma Working Capital Statement 1

This excerpt taken from the ICI 20-F filed Apr 1, 2005.

Part 2
Pro Forma Working Capital Statement1

  Indopco, Inc. Nacan Products Vinamul B.V. Vinamul Limited Total
  (the U.S.) Limited (Canada) (the Netherlands) (UK) U.S.$(000)
Stock 8,205   1,453   3,565   3,674   16,897  
Proforma debtors, comprising:                    
Third party debtors 13,145   3,744   10,062   6,381   33,332  
Internal debtors(2) 11,272   722   6,101   1,727   19,822  
Prepaid expenses/other current assets 164   108   378   727   1,377  
Proforma creditors, comprising:                    
Third party creditors (21,584)   (5,245)   (14,028)   (7,116)   (47,973)  
Accrued expenses(3) (1,849)   (413)   (4,798)   (2,011)   (9,071)  
Total Pro Forma Working Capital Value 9,353   369   1,280   3,382   14,384  
Adjustment to Allocation of Consideration                    
Business Cash Consideration                    
United States (to be allocated)                    
Canada                    
Share Consideration                    
UK Company                    
Dutch Company                    
Total                    
                     
 
1 The base working capital has been calculated using constant 2003 average exchange rates as follows; GBP = 1.63458 USD, Euro = 1.130384 USD, CAD = 0.71424 USD.  
2 The base working capital has been calculated on the basis of 75 day payment terms.  
3 Accrued expenses in the US exclude short-term portions of pension (1,730) and post-retirement benefits (24). These items will also be excluded from the Working Capital Statement.  

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