MIDASPLAYER.COM LTD. - Annual Accounts

Form: AA - Annual Accounts

FULL ACCOUNTS MADE UP TO 31/12/09

Filed on: 14 Jun 2010

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Midasplayer.com Limited
Table of contents
Contents
Dxrectors and advisory
Directors’ report
Auditors’ report
Profit and loss account
Balance sheet
Notes to the financial statements
Page
l
#-#
#-#
#
#
#-##

Midasplayencom Limited
Directors and advisor
Directors
S Knutsson
L Markgren
R Zacconl
Company secretary
M Whalen
Registered office
I# Dufour’s Place
London
WIF #SP
Independent auditors
PncewaterhouseCoopers LLP
Chartered Accountants and Registered Audltors
The Atrium
l Haretield Road
Uxbridge
UB# IEX

Midasplayer.com Limited _
Directors’ report for the year ended ## December ####
The directors present their report and the audited financial statements of the company for the year ended ##
December ####
Principal activity
The company’s principal activity dung the year was the provision of on-line games
Review of business and future developments
The company continued to grow dung the year, increaser tu mover and gross profit and was cash
generative Growth in trading volume and improved operating margins led to a higher net profit being
recorded in ####, than the nor year
The company anticipates a further expansion in #### of tu mover and profit by developing further the skill
gaming platform through attracting new users to the site and monetarism existing users
Results and dividends
The company’s profit for the financial year is €#,###,### (#### €#,###,###)
The directors do not recommend a dividend (#### €natl)
Directors
The directors who held office during the year and up to the date of signing these financial statements were
S Knutsson
L Markgren
C Martin Appointed ## March ####, resigned ## May ####
R Zaccom (Chamnan)
M Whalen (Company Secretary)
Key performance indicators
The company utilises KPI’s to monitor its performance t kye areas such as sales growth and operating profit
It also reviews KPI’s throughout the business to monitor progress within the business cycles The key
indicators for #### are as follows
#### ####
Indicator €’### €‘#OO
Turnover ##,### ##,###
Operating profit #,### #,###
Profit for the financial year #,### #,###
Business and financial risks
The company operates in the onlooker skill gaming industries As such the directors consider the following as
significant business asks The regulatory and legal environment m which the business operates differs across
jurisdictions and is often sub_sect to change The company’s principal activity remains the provision of on-line
games and the directors regularly monitor changes t rregulations #n the jurisdictions in which the company
operates and as such the directors believe that there is a low ask that any regulatory matters would
significantly impact the business The company also operates m a competitive environment and is focussed on
evolving the range of games available to increase market share A full disclosure of the company’s ask
management policy is provided in Note # of the financial statements on page #
Research and development
The company ta engaged t the continuous development of new on-line skill games
Donations
Charitable donations of € ##,### (#### €ml) were made during the year
#

Midasplayer.com Limited _
Directors’ report for the year ended ## December ####
Statement of directors’ responsibilities
The directors are responsible for preparing the Directors' report and the financial statements in accordance
with applicable law and regulations
Company law requires the directors to prepare financial statements for each financial year Under that law,
the directors have elected to prepare the financial statements in accordance with United Kingdom Generally
Accepted Accounting Practice (Umted Kingdom Accounting Standards and applicable law) Under company
law, the directors must not approve the financial statements unless they are satisfied that they give a true and
fair view of the state of affairs of the company and of the profit or loss of the company for that period In
preparing these financial statements, the directors are required to
# select suitable accounting pouches and then apply them consistently,
v make judgements and accounting estimates that are reasonable and prudent,
# state whether applicable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained in the financial statements,
° prepare the financial statements on the going concept basis unless it is appreciated to presume that the
company will continue t bbusiness
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain
the company's transactions and disclose with reasonable accuracy at any time the financial position of the
company and enable them to ensure that the financial statements comply with the Companies Act #### They
are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities
Statement of disclosure of information to auditors
So far as the directors are aware there is no relevant audit information of which the company's auditor is
unaware and they have taken all the steps that they ought to have taken as directors t order to make
themselves aware of any relevant audit information and to establish that the company's auditor is aware of
that fomentation
Auditors
The auditors, PricewaterhouseCoopers LLP, have indicated their willingness to continue in office and a
resolution concerning their re-appointment will be proposed at the Annual General Meeting
By order of board
Marcus Whalen Y June ####
Company Secretary
#

Midasplayencom Limited ~
Independent auditors’ report to the members of Mld#Splay€f.C#m Limited
INDEPENDENT AUDITORS’ REPORT
To the Members of Midasplayer.com Limited
We have audited the financial statements of Mldasplayer com Limited for the year ended ## December ####
which comprise the profit and loss account, the balance sheet and the related notes The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards (Umted Kingdom Generally Accepted Accounting Practice)
Respective responsibilities of directors and auditors
As explained more fully in the Statement of directors' responsibilities set out in the Directors’ report the
directors are responsible for the preparation of the financial statements and for being satisfied that they give a
true and fair view Our responsibility is to audit the financial statements t aaccordance with applicable law
and Intematlonal Standards on Auditing (UK and Ireland) Those standards require us to comply with the
Auditing Practices Boards Ethical Standards for Auditors
This report, including the opinions, has been prepared for and only for the company's members as a body in
accordance with Chapter # of Part ## of the Companies Act #### and for no other purpose We do not, in
giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom
this report is shown or into whose hands it may come save where expressly agreed by our nor conset tn
wrestling
Scope of the audit of the financial statements
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient
to give reasonable assurance that the financial statements are free from material misstatement, whether caused
by fraud or error This includes an assessment of whether the accounting policies are appropriate to the
company's circumstances and have been consistently applied and adequately disclosed, the reasonableness of
significant accounting estimates made by the directors, and the overall presentation of the financial
statements
Opinion on financial statements
In our opinion the financial statements
# give a true and fair view of the state of the company's affairs as at ## December #### and of its
profit for the year then ended,
# have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice, and
~ have been prepared in accordance with the requirements of the Companies Act ####
Opinion on other matter prescribed by the Companies Act ####
In our opinion the information given in the Directors' report for the financial year for which the financial
statements are prepared IS consistent with the financial statements
#

Midasplayer.com Limited
Independent auditors’ report to the members of Midasplayer.com Limited
(continued)
Matters on which we are required to report by exception
We have nothing to report t rrespect of the following matters where the Companies Act #### requires us to
report to you if, in our opinion
# adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us, or
# the financial statements are not in agreement with the accounting records and returns, or
# certain disclosures of directors' remuneration specified by law are not made, or
# we have not received all the information and explanations we require for our audit
#§~
.Iaskamal Sarat (Senior Statutory Auditor)
For and on behalf of PricewaterhouseCoopers LLP
Chartered Accountants and Statutory Auditors
West London
‘Z June ####
#

Midasplayencom Limited
Profit and loss account for the year ended ## December ####
#### ####
Note €’### €’###
Turnover # ##,### ##,###
Cost of sales (##,###) (##,###)
Gross profit ##,### ##,###
Marketing # (##,###) (#,###)
Sales and administratrix expenses #,#,# (#,###) (#,###)
Operating profit # #,### #,###
Interest payable and similar charges # (#) (#,l ##)
Interest receivable and similar income # #,### ###
Profit on ordinary activities before taxation #,### #,###
Tax charge on profit on ordinary activities # (#,###) (###)
Retained profit for the financial year #,### #,###
All amounts relate to continuing operations
The company has no recognised gains and losses other than those included in the results above, and therefore
no separate statement of total recognised gains and losses has been presented
There are no maternal differences between the profit on ordinary activities before taxation and t#e profit for
the years stated above and their unhistorical cost equivalents

Midasplayer.com Limited
Balance Sheet as at ## December ####
#### ####
Note €’### €‘###
Intangible assets ## ### ###
Tangible assets # # ## #
Investments ## ### ###
Long-term deposits ## ## ##
Deferred tax assets ## ## #
#,### #,###
Debtors amounts falling due within one year ## #,### #,###
Cash at bank and in hand
Client funds #,### #,###
Corporate funds #,### #,###
##,### ##,###
Creditors: amounts falling due within one year ## (#,###) (#,###L
Net current assets ##,### #,###
Provision for liabilities and charges ## (##) (##)
Net assets ##,### #,###
Capital and reserves
Called up share capital ## ## ##
Share premium account ## #,### #,## #
Profit and loss reserve ## #,### #,###
Total shareholders’ funds ## ##,### #,###
The financial statements on pages # to ## were approved by the board of directors on ## ju; ####
and were signed on its behalf by
Riccardo Zacconi
Director
Mrdasplayer com Limited
Registered no #######

Midasplayencom Limited
Notes to the financial statements for the year ended ## December ####
l. Accounting policies
Basis of preparation
These financial statements are prepared on the going concept basis, under the historical cost convention, and
in accordance with the Companies Act #### and applicable accounting standards in the Umted Kingdom
The punctual accounting policies, which have been applied consistently throughout the year, are set out
below
Cash flow statement and related party disclosures
The company is a wholly-owned subsidiary of Mrdasplayer Intematronal Holding Company Limited
(“MlHC") and is included in the consolidated financial statements of MIHC, which are publicly available
Consequently, the company has taken advantage of the exemption from preparing a cash flow statement
under the terms of FRS# The company is also exempt under the terms of FRS # from disclosing related
party transactions with entities that are part of the MIHC Group
Group accounts
The financial statements contain information about the company as an individual company and do not contain
consolidated financial malformation as the parent of a group The company is exempt under section ### of the
Companies Act #### from the requirement to prepare consolidated financial statements as its subsidiary
undertakings are included by the full consolidation in the financial statements of#HC, a company registered
#n Malta and whose accounts are public ally available Please refer to Note ## for a lest of the SUbSldl&#'y
undertakings and Note ## for electrons on how to obtain the financial statements of MIHC
Turnover
Revenue for on-line games represents the entry fees collected on the provision of games, net of Value Added
Tax, discounts, bonzes and other promotions paid out Entry fees are recognised at the conclusion of a game
Research and development
All research and development costs are written off as incurred
Partner distribution payments
Where payments are made to distribution spanners on a revenue share basis, based on customer activity, such
costs are included in cost of sales Where payments are fixed fees for advertising space with no van able
element, such fees are included in sales and administrative expenses
Sales and administrative expenses
Sales and administrative expenses primarily include seaplanes, intercommunicate charges relating to the
development of skill gaming and, product fulfilment costs such as co-location fees and customer service
costs
Foreign currency
The company has established its local currency as Euros to facilitate a better understanding of its results since
the majority of its tu mover and a significant proportion of its costs are in Euros The rate of exchange
between Euros and Sterling at ## December #### was €l ### (#### €# ####)
Monetary assets and liabilities in foreign currencies are translated into Euros at rates of exchange ruling at the
end of the year Transactions in foreign currencies are translated into Euros at the average rate of exchange
All foreign exchange differences have been taken into the profit and loss account in the year
Intangible fixed assets
Intangible fixed assets represent purchased domain names These assets are not amortised, but are reviewed
mutually for impairment by management Any losses on impairment are charged to the profit and loss account
in the period to which the compartment relates
Tangible fixed assets
The cost of tangible fixed assets is their historic purchase cost, together with any incidental expenses of
#

Midasplayer.com Limited -
Notes to the financial statements for the year ended ## December #### (continued)
#. Accounting Policies (continued)
acquisition Deprectatron is calculated so as to went off the cost of tangible fixed assets, less their estimated
residual values, on a straight hen basis over the expected useful economic lives of the assets conceded as
follows
- Plant and machinery over #-# years
- Computer hardware over #-# years
Leases
Leases in which a significant portion of the asks and rewards of ownership are retained by the lessor are
classified as operating leases Payments made under operating leases are charged to the profit and loss
account on a straight line basis over the period of the lease The company has not entered into any finance
leases where the risks and rewards of ownership are transferred to the lessee as of ## December ####
Investments
Investments in subsidiary undertakings are recorded at cost plus incidental expenses less any provision for
impairment Imparmient reviews are performed by t.he directors if events or changes in circumstances
indicate that the carrying value of the investment may not be recoverable
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date, where transactions or events that result in an obligation to pay more tax in the future or a
night to pay less tax in the fixture have occurred at the balance sheet date
A net deferred tax asset is recognised as recoverable and therefore recognised only when, on the basis of all
available evidence, it can be regarded as more likely than not that there will be suitable taxable profits against
which to recover maced forward tax losses and from which the future reversal of underlying timing
differences can be deducted
Deferred tax ls measured at the average tax rates that are expected to apply in the penology in which the timing
differences are expected to reverse based on tax rates and laws that have been enacted or substantively
enacted by the balance sheet date. Deferred tax is measured on an unaccounted bbasis
Share-based payments
The amount recharged by the parent undertaking for the cost of providing share options to the employees of
the company IS recognised in the profit and loss t the period in which rt IS charged, which is equal to the fair
value of the expense for the period The corresponding liability IS recognised within amounts owed to the
parent undertaking within creditors amounts falling due within one year
Financial risk management
The company’s activities expose it to a vanity of financial asks, market ask (currency ask), credit ask and
liquidity ask The company’s overall ask management progranune seeks to minimise potential adverse
effects on the company’s financial performance
(a) Market ask
(#) F Oregon exchange ask
The company operates mutationally aNd ta exposed to foreign exchange ask, answer from various currency
exposures, unmarried with respect to the Pound Sterling, US Dollar and Swedish Kroner in addition, the
company holds large cash balances in the above foreign currencies, exposing the company to gains and losses
when cash balances are translated to the functional currency of Euro Foreign cash balances are monitored
and controlled by the company to html exchange rate exposure on cash balances Steps have been taken to
align the currency that distribution payments are made m with the currency that revenues are generated in
#

Midasplayer.com Limited
Notes to the financial statements for the year ended ## December #### (continued)
#. Accounting Policies (continued)
Sensitivity analysis
The strengthening (or weakening) of the functional currency by #% against Pound Sterlmg with all other
variables held constant would result in an impact on pre-tax profit for the year of ###,### The company’s
sensitivity to other currencies the company trades #n#S not material
(b) Credit ask
Credit ask assen from cash and cash equivalents, deposits with banks, as well as credit exposures to
customers including outstanding receivables
The below table shows credit ask arising from the above credit exposures as follows
#### ####
€’### €’###
Non-current financial assets ## ##
Debtors #,### #,###
Cash and cash equivalents ##,### ##,###
Total receivables ##,### ##,###
The maximum exposure to credit risk at the reporting date in respect of the financial assets mentioned above
is equivalent to their carrying amount
The company banks only with financial institutions with high quality standing or rating
Management does not consider credit risk in respect of debtors to be significant and does not expect any
maternal losses from non-performance of trade debtors
(c) Liquidity ask
The company is exposed to liquidity ask in relation to meeting fixture obligations associated with financial
liabilities, which comprise amounts owed to creditors Pnrdent liquidity ask management includes
maintaining sufficient cash and cash committed credit lines Liquidity ask is monitored at a Group level by
ensuring that sufficient funds are available to each subsidiary wtthtn the Mrdasplayer Group
#) Farr v/ues
The carrying amounts of non-current financial assets, debtors, cash equivalents and trade and other creditors
are assumed to approximate their fair values
(##) Capital risk management
The company’s objectives when managing capital are to safeguard the company’s ability to continue as a
going concept in order to provide rectums for shareholders and benefits for other stakeholders and to maintain
an optimal capital structure to reduce the cost of capital
In order to maintain or adjust the capital structure, the company may adjust the amount of dividends paid to
shareholders, issue new shares or sell assets to reduce debt
Total capital is calculated as equity as shovel in the balance sheet
##

Midasplayer.com Limited
Notes to the financial statements for the year ended ## December #### (continued)
#. Turnover by geographical location
#### ####
€’### €’###
Turnover
Europe ##,### ##,###
US #,### #,###
Other ### ###
##,### ##,###
#. Operating profit
#### ####
€’### €’###
Operating profit is stated after charging
Wages and seaplanes #,### #,###
Social security costs ### ###
Staff Costs #,### #,###
Depreciation of tangible fixed assets
- owned assets ## ##
Operating lease charges
- other ## ##
Foreign exchange losses ## ###
Services provided by the company's auditor
Fees payable for the audit ## ##
Fees Eyable for other services -tax advice and compliance ## ##
#. Directors’emoluments
#### ####
€’### €’###
Aggregate emoluments ### ###
Highest paid director
#### ####
€’### €’###
Total amount of emoluments and amounts (excluding shares) ### ###
receivable under long-term incentive schemes
The two (#### two) other directors are paid by another group company and the amount attributable to
services to the company is not available

Midasplayencom Limited
Notes to the financial statements for the year ended ## December #### (continued)
# Employee information
The average monthly number of persons (including executive directors) employed during the year was
By activity
#### ####
Sales, general and administration # #
#. Interest payable and similar charges
#### ####
€’### €`###
Interest payable on bank and overdrafts # #
Foreign exchange losses - #,# ##
Total interest payable and similar charges # #,# ##
#. Interest receivable and similar income
#### ####
€’### €’###
Interest receivable on bank and other deposits ## ###
Foreign exchange gains ### -
Total interest receivable and stellar income #,### ###
#. Tax on profit for the year
a) Analysis of charge for the year
#### ####
€’### €‘##O
Current tax:
UK corporation tax on profit for the period #,### ###
Adjustments in respect of previous penology (#) (###)
Total current tax #,### ###
Deferred tax:
Adjustments m respect of previous years - ###
Ongtnatton and reversal of timing differences (#) #
Total deferred tax (Note ##) (#) ###
Total tax on profit on ordinary activities #,### ###

Midasplayer.com Limited
Notes to the financial statements for the year ended ## December #### (continued)
#. Tax on profit for the year (continued)
b) Factors affecting the tax charge for the year:
The tax credit assessed for the period ta lower (#### lower) than the standard rate of corporation tax t the
UK of ##%, (#### ## #%) The differences are explained below
#### ####
€’### €’###
Profit on ordinary activities before tax #,### #,###
Profit on ordinary activities multiplied by standard rate of corporation #,### ###
tax in UK of##% (#### ## #%)
Effects of:
Expenses not deductible for tax purposes (#) (#)
Depreciation in excess of capital allowances # #
Deferred tax - origination and reversal of timing differences (#) #
Adjustment for previous years (#) (###L
Total current tax charge #,### ###
Factors that effect future tax charges
Based on current capital investment plans, the company expects to continue to be able to claim capital
allowances in excess of depreciation m future years at a similar level to the current year
#. Lease commitments
At ## December #### the company has lease arrangements in respect of property, for which the payments
extend over a number of years
#### ####
€’### €’###
Annual commitments under non»cancellate ooperating leases
expunge
- Within one year ## -
- Within two to five years # ##
# ##

Midasplayer.com Limited
Notes to the financial statements for the year ended ## December #### (continued)
##. Intangible fixed assets
Domain
names
€’###
Cost
At # January #### ###
Additions ##
At ## December #### ###
Accumulated amortisation
At # January #### -
Charge for the year (#)
At ## December #### (#)
Net book amount
At ## December #### ###
At ## December #### ###
Domain names are required for the company to trade as the revenue is entirely generated from web based
activity The value of the capitalised domain names is constantly maintained by investment in the business
through marketing and the development of new games and fonn the recognisable gateway through which
customers are attracted to the business Management consider in light of the continued growth of the business
that at ## December #### that there is no requirement to recognise a diminution t vslue of the assets
##. Tangible assets
Plant and
machinery
€’###
Cost
At # January #### ##
Additions ##
Disposals (##)
At ## December #### ##
Accumulated amortisation
At # January #### ##
Charge for the year ##
Disposals (##)
At ## December #### ##
Net Book Value
At ## December #### ##
At ## December #### #
##. Investments
The company has the following subsidiaries
% ownership of
Name ordinary share
Mrdasplayer GmbH ###
King com Inc ###
King com Italia Srl ###
Country of
incorporation
Germany
USA
Italy
Principal activity
Sales and Marketing
Sales and Marketing
Online Games
##

Midasplayer.com Limited
Notes to the financial statements for the year ended ## December #### (continued)
##. Trade debtors
The directors believe that the carrying value of the investments is supported by their underlying net assets
#### ####
€’### €’###
Trade debtors #,### #,###
Amounts owed by group undertakings and fellow subsidiarity #,### #,###
Prepayrnents and accrued income ### ###
#,### #,###
Amounts owed by group undertakings are unsecured, interest free and have no fixed date of repayment
Long term deposits
#### ####
€’### €’###
Long term deposits ## ##
These deposits are unsecured and ram nil interest There is currently no expected repayment date
l ##. Creditors amounts falling due within one year
#### ####
€’### €’###
Trade creditors #,### #,###
Taxation and social security #,### #,###
Accruals, other creditors and deferred income #,### #,###
Client funds #,### #,###
p #,### #,###
\ Client funds represent cash held on behalf of customers The corresponding amount ta separately disclosed
within cash at bank and in hand

l ##. Deferred tax
i #### zoos
€’### €’###
Deferred tax assets
# January # ###
Credited to the profit and loss account # <
Utlhsed dung the year - (###)
Total deferred tax assets at ## December ## #
Deferred tax arability
# January (##) (##)
Charged to the profit and loss account (#) (#)
Utrhsed during the year - -
# Total deferred tax liability at ## December (##) (##)
##

Midasplayencom Limited
Notes to the financial statements for the year ended ## December #### (continued)
##. Share capital
Authorised #### ####
€’### €’###
###,### (#### ###,###) ‘A‘ ordinary shares of ##p each ### ###
##,### (#### ##,###) ‘B’ ordinary shares of ##p each # #
#,### (#### #,###) ‘C` ordinary shares of ##p each # #
##,### (#### ##,###) ‘A’ preferred shares of ##p each ## ##
#,### (#### #,###) ‘B’ preferred shares of ##p each # #
### ###
Allotted and fully paid #### ####
€’### €’###
##,### (#### ##,###) ‘A’ ordinary shares of ##p each # #
##,### (#### ##,###) ‘B’ ordinary shares of ##p each # #
#,### (#### #,###) ‘C’ ordinary shares of ##p each # l
##,### (#### ##,###) ‘A’ preferred shares of ##p each ## ##
#,### (#### #,###) ‘B’ preferred shares of ##p each # #
## ##
##. Share-based payments
Share options are granted to selected employees for ordinary “D” shares in the company‘s parent undertaking,
Mrdasplayer Intematronal Holding Company m rectum for services to the company Mtdasplayer Intematronal
Holding Company recharges the cost of these share options to Mrdasplayer com Limited, based on the fair
value of the options provided Up to ## December ####, the amount charged and fair value of the expense
was not significant and was therefore not separately disclosed in the financial statements of Mrdasplayer com
Limited Further details on the nature of the shares included in the scheme are provided in the financial
statements of Mtdasplayer Intematronal Holding Company, please refer to Note ## for details on how these
can be obtained
The exercise once of the options granted ta equal to €### ## per share Options are only exercisable in the
event of a change of control of the Group and will be settled by issuance of equity instruments Movements
in the number of share options outstanding to employees of the company and their related weighted average
exercise paces are as follows
Average Options
exercise price
(#
At # January #### ###.## #,###
Granted ###.## #,###
At ## December #### ###.## #,###
Forferted ###.## (#,###L
At ## December #### ###.## #,###
##

Midasplayencom Limited
Notes to the financial statements
##. Share-based payments (continued)
Out of the #,### outstanding options, none were exercisable at the balance sheet date (#### none)
There were no options granted dung the period (#### #,### options) Existing options are valued using the
stochastic (Monte-Carlo) valuation model The significant inputs into the model were the weighted average
share once on issue of €### ##, shovel above, volatility of ##% (#### ##%), an armful risk free interest rate
ranging from # ##% to # ##% and a likelihood of change of control of ##% each year from ### # onwards
Mrdasplayer com Limited recognised a total expense of €###,### related to equity settled share-based
payments in the year ended ## December ####
Share options outstanding at the end of the year have the following expiry date and exercise prices
Exercise Shares
Expiry date - ## December price in € #### ####
per share
#### ###.## #,### #,###
#### ###.## - -
#### ### ## #,### #,###
#,### #,###
##. Reserves
Share Profit and
premium loss reserve
account
€’### €’###
# January #### #,### #,###
Profit for the financial year - #,###
## December #### #,### #,###
##. Reconciliation of movements in shareholders’ funds
#### ####
€’### €’###
Profit for the financial year #,### #,###
Net addition to shareholders’ funds #,### #,###
Opening shareholders’ funds #,### #,###
Closing shareholders’ funds ##,### #,###
##. Ultimate parent undertaking
The company’s immediate parent company is Mtdasplayer Malta Holding Company Limited (“Malta #”),
address ###/## The Strand, Gzrra GZR ####, Malta, a company incorporated in Malta The ultimate holding
company and controlling party is Mrdasplayer Intematronal Holding Company Limited (“MIHC”), a
company also incorporated m Malta, which is the parent undertaking of the smallest and largest group to
consolidate these financial statements MIHC owns ###% of the issued share capital The consolidated
accounts are publicly available at The Registry of Companies, Malta Financial Services Authority, Notabrle
Road, Attard BKR ##, Malta
##