CAPITAL MANAGEMENT. The primary objective of the Company’s capital management is to ensure that it has an appropriate financial structure and preserves the ability to continue its business as a going concern. According to the statement of financial position as at December 31, 2019, the group of Company's debt-to-equity ratio was 0.51:1 (as at December 31, 2018 0.47:1) and the Company’s debt-to-equity ratio was 0.38:1 (as at December 31, 2017 0.35:1)
CAPITAL MANAGEMENT. Party B shall manage and control all funds of Party A. Party A shall open or appoint a management account for its funds (“Management Account”) and Party B shall be responsible for and have the right in deciding the inward and outward remittance of its funds. The seals affixed to such account shall be that of the person appointed and confirmed by Party B. As of the day when this Agreement comes into effect, all cashes of Party A, including but not limited to revenues from sales, existing working capitals, collecting of receivables, and all payables and operating expenses, employees’ salaries and compensations and assets acquisition, must be saved and transacted in this Management Account.
CAPITAL MANAGEMENT. The Company defines capital that it manages as shareholders' equity that is expected to be realized in cash. The Company raises capital through private share offerings and related party loans and advances. Capital is managed in a manner consistent with the risk criteria and policies provided by the board of directors and followed by management. All sources of financing and major expenditures are analyzed by management and approved by the board of directors. The Company’s primary objectives when managing capital is to safeguard and maintain the Company’s financial resources for continued operations and to fund programs to further advance their hydro power technology. The Company is meeting its objective of managing capital through detailed review and the preparation of short-term and long-term cash flow analysis to maintain sufficient resources. HYDRO POWER TECHNOLOGIES INC. NOTES TO THE FINANCIAL STATEMENTS FOR THE QUARTERS ENDED SEPTMEMBER 30, 2019 and 2018 (Expressed in Canadian dollars)
CAPITAL MANAGEMENT. For the purpose of the Company’s capital management, capital includes issued capital and all other equity reserves attributable to the equity shareholders of the Company. The primary objective of the Company when managing capital is to safeguard its ability to continue as a going concern and to maintain an optimal capital structure so as to maximize shareholder value. As at 31st March, 2022, the Company has only one class of equity shares and has no long term debt. Consequent to such capital structure, there are no externally imposed capital requirements. In order to maintain or achieve an optimal capital structure, the Company allocates its capital for the re-investment into business based on its long term financial plans.
CAPITAL MANAGEMENT. The primary objective of Sovello’s capital management is the sustainability of the financial flexibility necessary for the Company’s long-term growth. Sovello is still going through a phase of strong growth and development. This involves extensive investment, which the Company must finance. Sovello meets the resulting financing risks with a solid capital structure encompassing equity, the shareholders’ and bank loans and the applicable portions of the financial assistance from the government. Short-term liquidity management is based on a rolling planning horizon of twelve months. The table below shows the balance sheet total, the equity in absolute figures and in per cent of the balance sheet total, and the net financial liabilities (financial liabilities minus cash and cash equivalents): (In thousands of EUR) Dec 31, 08 Dec 31, 07 Balance sheet total 467,145 380,179 Equity 107,796 91,168 Equity in per cent of balance sheet total 23.1 24.0 Net indebtedness 247,527 161,953 Annex 1.5 / 28 The loan agreement made in 2007 with the banking syndicate led by Deutsche Bank has been revised by the supplementary agreement of September 1, 2008. The syndicated loan agreement deals primarily with the continuation of the existing financing arrangements and the extending of the syndicated financing for the investment in the Company’s third production line at Bitterfeld-Wolfen. The financing now includes an additional loan of EUR 60 million of which EUR 35 million has been drawn. The tranches of the original syndicated loan agreement continue to be available on the original terms, except that interim financing of investment grant receivables was raised from EUR 30 million to EUR 45 million and the working capital loan was reduced from EUR 22 million to EUR 20 million. Drawings on the investment-grant interim financing line amounted at the reporting date to EUR 33.5 million. There were no drawings on the working capital loan. The syndicated loan agreement requires Sovello to achieve certain financial ratios. It also provides for compulsory unscheduled repayments if certain events occur, such as certain sales transactions, or if a third party acquires more than 50% of Sovello AG’s shares without the prior approval of the banks. Refer also to Note 4.12. Subsequent events.
CAPITAL MANAGEMENT. The Board of Directors’ policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. The Board monitors the return on capital, which the Group defines as result from operating activities divided by total shareholders’ equity, excluding non-controlling interests and alsomonitors the level of dividends toordinary shareholders.
CAPITAL MANAGEMENT. The primary objective of capital management of the Group is to ensure that it has an appropriate financial structure and preserves the ability to continue its business as a going concern. According to the statement of financial position as at March 31, 2022 and December 31, 2021, the consolidated financial statements debt-to-equity ratio 0.82 : 1 and 0.90 : 1, respectively. (Separate financial statements 0.80 : 1 and 0.89 : 1, respectively)
CAPITAL MANAGEMENT. LIMITED On 1 April 2015, Shui On Development and ViCap entered into the Framework Services Agreement pursuant to which the Group may enter into Service Contracts with ViCap for the provision of Services by ViCap to the Group during the period of two years commencing from 1 April 2015 to 31 March 2017. ViCap is wholly-owned by Xx. Xxxxxxx Xxxx who is the non-executive Director and a connected person of the Company. Therefore, ViCap is an associate of a connected person of the Company at the listed issuer level and thus a connected person of the Company under Chapter 14A of the Listing Rules. As such, the transactions contemplated under the Framework Services Agreement constitute continuing connected transactions for the Company under Chapter 14A of the Listing Rules. As one or more of the applicable percentage ratios calculated pursuant to Rule 14.07 of the Listing Rules in respect of the Cap exceed 0.1% but are less than 5%, the entering into of the Framework Services Agreement and the Continuing Connected Transactions are subject to the reporting, announcement and annual review requirements but exempt from the independent shareholders’ approval requirement under Chapter 14A of the Listing Rules. * For identification purposes only
CAPITAL MANAGEMENT. The Credit Union provides financial services to its members and is subject to regulatory capital requirements set out in the Act. The Credit Union is required under the Act to hold capital equal to or exceeding the greater of: 4.0% of the consolidated statement of financial position assets or 13.5% of risk-weighted assets (comprised of 8.0% of risk-weighted assets plus a regulatory buffer of 3.5%, plus a minimum internal buffer of 2.0% as mandated by the regulator), allowing for the impact of operational risk and strategic initiatives. Should the cushion fall below the pre-defined amounts, management together with the Board of Directors will determine what corrective action needs to be taken, if any. The Credit Union’s goal is to hold various forms of capital, with a specific focus on growing retained earnings. Retained earnings are the most stable and least expensive form of capital for the Credit Union to hold. When determining sufficiency of capital, the Credit Union includes in its calculation amounts permitted under the Act including: • retained earnings and contributed surplus; • common shares; • investment shares; • other forms of capital as determined from time to time by the Board of Directors and permitted under the Act. The total value of the figures above is then reduced (increased) by: • deferred income tax asset (liability); • goodwill and other intangible assets. The Credit Union management ensures compliance with capital adequacy through an Internal Capital Adequacy Assessment Process (ICAAP) that includes the following activities: • Identifying the capital needed to support the current and planned operations of the Credit Union; • Developing and submitting to the Board of Directors for its approval, appropriate and prudent capital management policies, including policies on the quantity and quality of capital needed to support the current and planned operations that reflect both the risks to which the Credit Union is exposed and its regulatory capital requirements; • Regularly measuring and monitoring capital requirements and capital position, and ensuring Connect First meets its capital requirements; • Establishing appropriate and effective procedures and controls for managing capital, monitoring adherence to those procedures and controls, and reviewing them on a regular basis to ensure that they remain effective; • Providing the Board of Directors with appropriate reports on the Credit Union’s capital position and on the procedures and co...
CAPITAL MANAGEMENT. The Credit Union is well capitalized and has the ability to maintain the required capital buffers through the COVID-19 period. Refer to Note 5 for details on our capital management. 24. INVESTMENT INCOME 2020 2019 Interest on statutory investments 3,839 7,620 Dividends on statutory investments 1,196 2,131 Interest on other investments 2,004 2,998 7,039 12,749
