Annual Report 2013

Parent Company Statement of Cash Flows

for the year ended 31 December 2013

 

Notes

2013

2012

 

US$’000

US$’000

 

 

 

 

Cash flows used in operating activities

 

 

 

Loss for the year before tax

29

(13,638)

(5,164)

Adjustment for:

 

 

Foreign exchange movement

(282)

694

Share-based payments

3

-

2,471

Finance cost

7

2,041

-

Depreciation

-

3

Increase in other financial liability

24

5,851

-

(Decrease)/increase in provisions

(300)

1,002

Operating cash flow

(6,328)

(994)

 

 

 

Decrease/(increase) in receivables

15

362

(111)

Increase/(decrease) in trade and other payables

25

559

(241)

Cash from operations

(5,407)

(1,346)

 

 

 

Interest paid

(1,985)

-

 

 

Net cash used in operating activities

(7,392)

(1,346)

 

 

 

Cash flows used in investing activities

 

 

Investments in and amounts due from subsidiary undertakings

14

(114,381)

(54,966)

 

 

 

Net cash used in investing activities

(114,381)

(54,966)

 

 

 

Cash flows from financing activities

 

 

Proceeds on the issue of shares

17/18

106,058

60,046

Expense on the issue of shares

(4,103)

(2,836)

Repayment of borrowings

21

(20,000)

-

Increase in borrowings

21

39,345

-

 

 

Net cash from financing activities

121,300

57,210

 

 

 

Net (decrease)/increase in cash and cash equivalents

(473)

898

 

 

 

Cash and cash equivalents at beginning of the year

291

88

Effect of exchange rate changes on cash and cash equivalents

396

(695)

 

 

 

Cash and cash equivalents at the end of the year

16

214

291