104
Cordlife Group Limited
Annual Report 2016
Notes to
The Financial Statements
for the financial year ended 30 June 2016
34. Investment in subsidiaries (cont’d)
Acquisition of subsidiaries (cont’d)
The fair values of the identifiable assets and liabilities of the subsidiary acquired are as follows:
Fair value
recognised on
acquisition
$’000
Property, plant and equipment (Note 12)
1,698
Investment property (Note 13)
5,577
Intangible assets (Note 14)
3,678
Trade receivables
2,765
Other receivables and prepayments
270
Inventories
132
Short-term investments
12,423
Cash and cash equivalents
7,856
Fixed deposits
2,822
Trade and other payables
(2,519)
Deferred revenue
(9,739)
Deferred tax liabilities
(3,940)
Net identifiable assets at fair value
21,023
Less: Non-controlling interests measured at non-controlling
interest’s proportionate share of net assets
(2,126)
Premium paid on acquisition of non-controlling interest
recognised in other reserve
6,222
Goodwill arising from acquisition (Note 14)
7,924
33,043
Consideration transferred for the acquisition of Stemlife
Cash paid
21,297
Fair value of equity interest in Stemlife held by the Group
immediately before the acquisition
11,746
33,043
Effect of the acquisition of Stemlife on cash flows
Cash paid
21,297
Less: cash and cash equivalents acquired
(7,856)
Net cash outflow on acquisition
13,441
Transaction costs
Transaction costs related to the Acquisition of $308,000 have been recognised in the “Administrative expenses”
line item in the Group’s profit or loss for the year ended 30 June 2016.
