PRO FORMA COMPLETION STATEMENT Clause Samples
A Pro Forma Completion Statement clause defines the requirement for preparing a preliminary financial statement that outlines the expected financial position of the parties at the completion of a transaction, such as a sale or acquisition. This statement typically includes estimated adjustments for items like working capital, outstanding debts, or prepaid expenses, and serves as a basis for calculating the final purchase price or settlement amount. Its core practical function is to provide a transparent and agreed-upon framework for determining the financial adjustments at closing, thereby reducing the risk of disputes and ensuring both parties have a clear understanding of their financial obligations.
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PRO FORMA COMPLETION STATEMENT. Conduit Pro-Forma Completion Statement A B C D E (E = C+ D) £ million Completion Balance Sheet Disallowed Items Regulatory Assets Other Value Items Regulatory Capital Amount Assets Intangible Assets Investments Investments Cost – JV Investments Cost – Other Tangible Assets Deferred Tax Asset Cash Debtors Prepayments & Accrued Income Other Assets Performance Fee Receivable Carried Interest Receivable Total Assets Liabilities Current Liabilities Bonus Accrual Subordinated Loan Other liabilities Total Liabilities Total Net Assets Equity Share Capital Reserves 2018 Retained Earnings Total Equity Regulatory Capital Amount Regulatory Capital Target Amount Regulatory Capital Excess/Regulatory Capital Shortfall 50 EXHIBIT 1 £ million Completion Balance Sheet Disallowed Items Regulatory Assets Assets Intangible Assets 0.4 -0.4 0.0 Investments 0.0 Investments Cost – JV 10.5 -10.5 0.0 Investments Cost – Other 12.5 12.5 Tangible Assets 4.8 4.8 Deferred Tax Asset 13.1 13.1 Cash 78.3 78.3 Debtors 14.0 14.0 Prepayments & Accrued Income 20.4 20.4 Other Assets 0.0 0.0 Performance Fee Receivable 0.0 0.0 Carried Interest Receivable 0.0 0.0 Total Assets 154.0 -10.9 143.1 Liabilities Current Liabilities -11.0 -11.0 Bonus Accrual -61.0 -61.0 Subordinated Loan -20.0 20.0 0.0 Other liabilities -11.3 -11.3 Total Liabilities -103.2 20.0 -83.2 Total Net Assets 50.8 9.1 59.9 Equity Share Capital 72.4 Reserves -21.6 2018 Retained Earnings 0.0 Total Equity 50.8
PRO FORMA COMPLETION STATEMENT. Item Reference £ Balance as at Effective Time Final Net Debt Final Working Capital Other TOTALS X (X) X X Item Reference £ £ FINAL COMPLETION AMOUNT