Notes*

Share Capital

 Capital Contributions

 Share Premium

 Capital Reserves

 Reserve   Fund  

Retained Earnings Reserve

Profit & Loss Account

 Total

$’000

$’000

$’000

$’000

$’000

$’000

$’000

$’000

Balance, December 31, 1998

1,095,114

1,400,000

246,776

69,094

98,194

133,391

(2,025,160)

1,017,409

Loss for the year

(1,050,885)

(1,050,885)

Shares issued

742,500

2,079,001

2,821,501

Advance on capital

378,649

378,649

Reserves transferred on merger

      -     

         -      

      -      

(  10,214)

(61,530)

(  89,897)

       -       

(  161,641)

Balance, December 31, 1999

1,837,614

1,778,649

2,325,777

58,880

36,664

43,494

(3,076,045)

3,005,033

Net gain not recognised in the profit and loss account:

Gain on revaluation of fixed assets 

9

         -    

          -      

      -       

   71,232

      -     

         -     

         -      

      71,232

Profit for the year

408,573

408,573

Shares issued

14

244,319

(1,778,649)

1,534,330

-      

-       

Reserve adjustment on disposal of subsidiaries

-

    -

-

( 5,876)

-     

-

-

(  5,876)

Transfers to reserve fund

17

      -     

          -     

      -      

         -     

61,286

         -     

( 61,286)

       -     

Balance, December 31, 2000

2,081,933

 -

3,860,107

124,236

97,950

  43,494

(2,728,758)

3,478,962