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ANNUAL REPORT 2011
Cash fows from operating activities
Total return for the period after taxation and before distribution
Adjustments for:
Amortisation of intangible assets
Manager’s fees payable in units
A
Net change in fair value of fnancial derivatives
Net change in fair value of investment properties
Net fnancing costs
Change in trade and other receivables
Change in trade and other payables
Cash generated from operating activities
Ta’widh (compensation on late payment of rent) received
Net cash from operating activities
Cash fows from investing activities
Purchase of investment properties
Intangible assets
Finance income received from Commodity Murabaha deposits
Net cash used in investing activities
Cash fows from fnancing activities
Proceeds from issue of new units
B
Proceeds from borrowings
B
Issue expenses paid
Transaction costs paid
Financing costs paid
Distributions paid
Net cash from fnancing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of the period
Cash and cash equivalents at end of the period
(A)
Significant Non-Cash Transactions
4,495,453 Units were issued or will be issued to the Manager by the Group, amounting to appro
various unit prices in partial satisfaction of Manager’s fee payable in respect of the period from
31 December 2011.
(B)
Use of proceeds
The proceeds from issue of new units and borrowings were used substantially for the purchase of
payment of issue expenses and fnancing costs.
The accompanying notes form an integral part of these fnancial statements.
Sabana AR 2011 Financial V9.indd 75
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