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Investor Presentaiton

ANNUAL REPORT 2020 82 Notes to the Financial Statements For the year ended 31 December 2020 18 Inventories In thousands of naira Raw and packaging material Finished goods Goods in transit 2020 2019 20b Cash and Cash Equivalents In thousands of naira 2020 2019 Cash and bank balances 9,731,064 5,751,631 Short term deposits 3,200,706 14,897,256 4,943,368 Cash and cash equivalents 81,201,738 7,500,796 88,702,534 7,394,490 462,721 7,857,211 11,329,235 Spare parts and tools Net cash and cash equivalents included in the statement of cash flows 88,702,534 7,857,211 3,479,942 2,884,716 31,308,968 24,908,950 Inventories are stated after deducting allowance for obsolescence amounting to: 21 Capital and Reserves 136,519 305,411 (a) Ordinary Shares 19 Trade and Other Receivables (i) Authorised ordinary shares of #0.50 each In thousands of naira In thousands of naira 2020 2019 Note 26 (a)ii At 1 January 5,021,810 292,907 Note 29 (c)ii 732,584 Note 19 (i) 11,939,354 17,986,655 Trade receivables Insurance claim receivable Due from related parties Other receivables Trade and other receivables (i) This includes refundable Non Deliverable Forwards (NDF) margin (#4.5 billion), reimbursable VAT input (#4 billion), Export Expansion Grant (EEG) receivable (#0.94 billion), advances made by the Company to vendors amounting to #1.18 billion during the year (2019: #0.96 billion). The Company's exposure to credit and currency risks, and impairment losses related to loans and receivables are disclosed in Note 26. At 31 December Nominal value (in thousands of naira) 11,743,220 At 31 December 2020 2019 1,000,000 1,000,000 1,000,000 1,000,000 641,930 287,076 (ii) Issued and fully paid ordinary shares of #0.50 each 2,124,799 In thousands of naira 2020 2019 14,797,025 At 1 January 976,336 976,336 976,336 976,336 488,168 488,168 20a Derivatives In thousands of naira Derivative assets The premium on the issued ordinary shares is as follows: Share premium (in thousands of naira) 2020 2019 2,867,272 1,404,116 350,211 350,211 The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the Company. (b) The derivative asset arose from forward contracts entered with respect to the foreign currency funding of Letters of Credit (LC). These LCs were opened for the importation of raw materials and finished goods. Derivative assets are reported at fair value and are expected to be realised within the next 12 months. Dividend Payable Movement in dividend payable In thousands of naira At 1 January Declared dividend Payments At 31 December FrieslandCampina WAMCO Nigeria PLC FrieslandCampina WAMCO Nigeria PLC 2020 2019 12,070,421 6,648,848 (18,221,269) 11,185,905 8,826,075 (7,941,559) Note 23 498,000 12,070,421 83
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