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This excerpt taken from the LUX 20-F filed Jun 28, 2006. Consolidated Financial Statements”
means, with respect to the Group, the latest published audited consolidated
financial statements of the Group prepared in accordance with GAAP in respect
of its financial year.
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“ This excerpt taken from the LUX 20-F filed Jun 29, 2005. Consolidated Financial Statements for companies with interests
in entities that are variable interest entities (“VIEs”) as defined under FIN No. 46.
According to this interpretation, if a company has an interest in a VIE and is
at risk for the majority of the VIE’s expected losses or receives a majority of
the VIE’s expected gains it shall consolidate the VIE. FIN 46-R also
requires additional disclosures by primary beneficiaries and other significant
variable interest holders. FIN 46-R is effective no later than the end of
the first interim or reporting period ending after March 15, 2004, except
for those VIEs that are considered to be special purpose entities for which the
effective date is no later than the end of the first reporting period ending
after December 15, 2003. The Company adopted FIN 46-R on January 1,
2004 and such adoption did not have a material effect on the Company’s
consolidated financial statements.
In December 2003, the FASB issued SFAS No. 132-R, | EXCERPTS ON THIS PAGE:
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