When a player is sold, his unamortised
value is written off and the remaining fee is declared as a profit.
Loans, net of deferred fees and unamortised
costs increased to USD1.7bn at September 30, 2018, as compared to USD1.4bn at December 31, 2017.
The proposal entails transferring all NPLs, including those relating to the borrower's principal residence and his/her principal profession or business, to this entity in exchange for shares that will be allotted to the transferor at their nominal value by reference to the unamortised
nominal value of the loans transferred.
Banks shall make suitable disclosures with regard to number of frauds reported, amount involved in such frauds, quantum of provision made during the year and quantum of unamortised
provision debited from 'other reserves' as at the end of the year, it said.
Profit before tax for the year was [pounds sterling]1.9m, up from [pounds sterling]1.8m, after the impact of the write off of unamortised
bank facility fees.
The cash consideration will be approximately USD 0.5bn, generating a loss on disposal, net of unamortised
fees, of around USD 30m.
Okazaki had signed a document sent to local stock exchange regulator CVM last week affirming that the company will legally question the tariff and unamortised
assets calculation methodology adopted by the government authorities.
The Hargeaves spokesman said: "The decision to secure new facilities early will result in an exceptional charge in the current financial year to write off unamortised
arrangement fees totalling pounds 0.4m but will provide certainty, lock in slightly improved pricing and provide the group with increased debt capacity to support its growth aspirations.
This amendment results in the immediate recognition in the current quarter of the cost of all unamortised
deferred incentive compensation awards from prior years that would otherwise have been expensed in future periods.
The transaction is seen to add USD0.05 to the company's diluted earnings per share in the fourth quarter of 2010, but its effect on the third-quarter result will be offset by a USD500,000 payment on write-offs of unamortised
debt placement expenses on the prior facility.
The transaction is expected to result in a one-time charge that will be recognised in the second quarter of 2006 as a result of writing off the remaining unamortised
debt discount recorded upon issuance of the notes.
It will also make a contribution to unamortised
investments made since 1986 of $530m, that were originally agreed as part of the 1986 standstill agreement.