| COMPANY NAME | Aquaria 21 Limited |
| NZSE CODE | AQL |
| MAILING ADDRESS | PO Box 37 403 |
| Parnell | |
| Auckland 1001 | |
| REGISTERED OFFICE | Level 1 149 Parnell Road |
| Parnell | |
| Auckland 1001 | |
| TELEPHONE | +64-9- |
| FAX NUMBER | +64-9- |
| FIRST NAME | LAST NAME | POSITION |
| Ron H | Lunken | Secretary |
| KD | Wikeley | Director |
| T | Song | Director |
| Jeremy | Lee | Director |
| Cao Mao | Qing | Director |
| Jack L | Porus | Director |
| Samford L | Maier | Chairman |
AQL HOLDINGS LIMITED
CONSOLIDATED OPERATING STATEMENT FOR THE FULL YEAR ENDED 31 DECEMBER 2000
Unaudited (NZ'000)
Current Previous
Period Corresponding
Period
OPERATING REVENUE
Sales revenue 5,044 12,259
Other revenue 58 16
Total Operating Revenue 5,102 12,275
OPERATING SURPLUS (DEFICIT)
BEFORE UNUSUAL ITEMS AND TAX -3,094 -2,809
Unusual items
for separate disclosure -12,153 -16,438
OPERATING SURPLUS (DEFICIT)
BEFORE TAX -15,247 -19,247
Less tax on operating surplus -208 -398
Operating surplus (deficit)
after tax but before minority
interest -15,455 -19,645
Less minority interests - -
Equity earnings - -
OPERATING SURPLUS (DEFICIT)
AFTER TAX ATTRIBUTABLE
TO MEMBERS OF LISTED ISSUER -15,455 -19,645
Extraordinary items after tax - -
Less minority interests - -
Extraordinary items after tax
attributable to members of the
Listed Issuer - -
TOTAL OPERATING SURPLUS
(DEFICIT) AND
EXTRAORDINARY ITEMS
AFTER TAX -15,455 -19,645
Operating Surplus (Deficit)
and Extraordinary Items after
Tax attributable to Minority
Interest - -
Operating Surplus (Deficit)
and Extraordinary Items after
Tax attributable to Members
of the Listed Issuer -15,455 -19,645
EPS 0 0
SHAREHOLDERS' EQUITY
ATTRIBUTABLE TO MEMBERS
OF THE HOLDING COMPANY 169,000 408,000
|
The Directors of AQL Holdings reported that the company has incurred a deficit for the year ended 31/12/00 of $15.455m. The result is unaudited. The deficit includes $12.153m of unusual items, principally relating to the divestment of the company's aquarium assets. The Shanghai Aquarium was sold on 30/06/00 at a loss of $10.990m. Trading of the aquarium for the 6 months to 30 June resulted in a loss of $687,000. The sale of the aquarium to Radwin Properties was for $15.132m and followed the non-completion of an earlier sale agreement with Blis Corporation Limited. There were various reasons for the earlier sale not being completed including the outbreak of Legionnaires disease at the Melbourne Aquarium, which Bliss was also acquiring in an independent transaction. The value of the aquarium assets had been written down in the year ended 31/12/99 to the value assigned in the Bliss transaction. Costs of $368,000 were incurred in settling management contracts in China as was required under the sale agreement and there were additional costs of $459,000 relating to the prior year divestment of the Pusan (South Korea) aquarium project. Following completion of the sale of all its trading assets, the company settled all its borrowings including repayment to convertible convertible note holders who elected to redeem their notes for cash. The only activity of the company since settlement in September 2000 has been as a cash investor. As at 31/12/00 the company had cash of $272,000 and net assets of $169,000. Since balance date a further 22.8m shares have been issued for a total of $342,000, taking the total shares on issue to 251,141,742. The Directors have investigated a number of business opportunities in both Australia and NZ but have not yet identified any they consider suitable for the company. |
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