AEG 21604 G Bedienungsanleitung PDF herunterladen (Seite 451)

100

101

F-210

15 Financial instruments – risk management

The Company is exposed to interest rate risk, credit risk, liquidity risk and currency risk from the financial in-

struments it holds. The risk management policies employed by the Company to manage these risks are discussed

below.

Principal financial instruments

The principal financial instruments used by the Company, from which financial instrument risk arises, are trade

receivables, cash and cash equivalents, trust account and trade and other payables.

Categories of financial instruments

Financial assets – loans and receivables

€

Cash and cash equivalents................................................................................................

...........

2,581,683

Trust account................................................................................................

...............................

249,914,110

Receivables ................................................................................................

................................

90,438

252,586,23

Financial liabilities measured at amortised cost

€

Payables ................................................................................................................................

......

149,488

Deferred IPO expenses ................................................................................................

...............

5,314,367

5,463,855

Interest risk

Interest rate risk is the risk that the value of financial instruments will fluctuate due to changes in market interest

rates. The Company's exposure to interest rate risk relates to the Company's obligation to provide working capi-

tal from interest earned on the trust account which is on a variable interest rate. Interest at variable rates expose

the Company to cash flow risk. The Company monitors its interest risk on an on-going basis.

At reporting date, if interest rates had been 250 basis points higher/lower and all other variables were held con-

stant, the Company's net profit would increase/decrease by € 630,554. This is mainly attributable to the Com-

pany's exposure to interest rates on its variable rate trust account.

The following table details the Company's remaining contractual maturity for its non-derivative financial assets:

Weighted

average

effective

interest

rate

Less than 1

year

1 to 5 years

More than

5 years

Total

31 December 2008 %

€

Cash and cash equivalents 3.5

252,495,793

1 2 ... 446 447 448 449 450 451 452 453 454 455 456 ... 650 651

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