Cordlife Ltd For personal use only · Cordlife Ltd and its controlled entities for the period from 1 July 2012 to 31 December 2012. Details of controlled entities are set out in note

Cordlife Ltd

ABN 48 108 051 529

Condensed Half-Year Financial Report

Period Ended 31 December 2012

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Cordlife Ltd

1

Half-year Financial Report for the period ended 31 December 2012

Page Number Directors’ Report 2 Auditor’s Independence Declaration 5 Independent Review Report 6 Directors’ Declaration 8 Consolidated Statement of Comprehensive Income 9 Consolidated Statement of Financial Position 10 Consolidated Statement of Cash Flows 11 Consolidated Statement of Changes in Equity 12 Notes to the Financial Statements 14

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Cordlife Ltd Directors’ Report

2

The directors of Cordlife Ltd submit herewith their report and the consolidated financial report of the Company for the

half-year ended 31 December 2012.

The names and particulars of the Company’s directors in office during the half-year and until the date of this report are as

below. Directors were in office for this entire period unless otherwise stated.

Name Particulars

Kam Yuen Chairman (non-executive)

Simon Hoo

Executive Director, Interim Chief Executive Officer (appointed 19 November 2012)

and Chief Financial Officer

Simon Lee

Executive Director

Samuel Kong

Non-executive Director

Mark Benedict Ryan

Non-executive Director

Voiron Chor Non-executive Director

Steven Fang Chief Executive Officer (resigned 3 October 2012), Non-executive Director (resigned

19 November 2012)

The Company Secretary is Andrew Lord (BSc, LLB).

Review and results of operations

The consolidated revenue and net profit for the period attributable to members represents the results of operations of

Cordlife Ltd and its controlled entities for the period from 1 July 2012 to 31 December 2012. Details of controlled entities

are set out in note 11 to the half-year financial statements for the period ended 31 December 2012.

Revenue from cord blood banking services was $5,327,000 for the half-year ended 31 December 2012 as compared

to $3,197,000 for the half-year ended 31 December 2011 (an increase of 66%). Increase is mainly due to higher sign-

up rate in India and Philippines.

Interest and other sundry income was $232,000 for the half-year ended 31 December 2012 as compared to $270,000

for the half-year ended 31 December 2011 (a decrease of 14%). This is largely due to decrease in interest income

generated from the placement of fixed deposit with favourable interest.

Marketing expenses were $1,532,000 for the half-year ended 31 December 2012 as compared to $1,351,000 for the

half-year ended 31 December 2011 (an increase of 13%).

Administration expenses were $2,843,000 for the half-year ended 31 December 2012 as compared to $3,132,000 for

the half-year ended 31 December 2011 (a decrease of 9%). The decrease is mainly due to several cost-cutting

measures implemented by the Company.

Borrowing costs were $209,000 for the half-year ended 31 December 2012 as compared to $1,561,000 for the half-

year ended 31 December 2011 (a decrease of 87%). The borrowing cost pertains to the interest expense incurred on

the convertible bond issued in prior year and interest expenses incurred on the loan facility.

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Net loss attributable to members for the half-year ended 31 December 2012 was $1,323,000, a decrease of 67% over the

net loss attributable to members of $4,029,000 for the half-year ended 31 December 2011.

Information on revenue and results of the different operating segments are set out in note 12 to the half-year financial

statements. Details of significant costs are set out in note 2.2.

Cash and cash equivalents, net of bank overdrafts, as at 31 December 2012 was $1,104,000.

Trade and other receivables at 31 December 2012 was $2,241,000 as compared to $2,180,000 at 30 June 2012. This

was mainly due to increase in other receivables. Increase in other receivables was due to increase in marketing

commission income earned during the period.

Plant and equipment at 31 December 2012 was $483,000 as compared to $548,000 at 30 June 2012. The decrease

was due to the depreciation of fixed asset, partially offset by new acquisitions of equipment.

During the period, Cordife Ltd has made a draw-down of S$2,000,000 (equivalent to A$1,582,000) from the loan

facility secured from City Challenge Global Limited for working capital purposes. The facility has a draw down limit

of $4,728,000.

Trade and other payables at 31 December 2012 was $4,413,000, as compared to $2,927,000 at 30 June 2012. The

increase is mainly due to increase in other payables. Increase in other payables was due to amount owing to Cordlife

Group Limited for payments made and collections received on behalf of the Company, interest payables on loans and

borrowings.

For further information on the activities and development of the Group, please refer to previously released market

announcements of the Company during the half-year ended 31 December 2012 and until the date of this report.

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Auditor’s independence declaration In accordance with section 307C of the Corporations Act 2001, we have obtained a declaration of independence from our

auditors Ernst and Young, a copy of which follows this Report.

Rounding of amounts to nearest thousand dollars The amounts contained in this report and in the financial report have been rounded to the nearest $1,000 (unless otherwise

stated) under the option available to the Company under ASIC Class Order 98/0100. The Company is an entity to which

the Class Order applies.

This report is made in accordance with a resolution of the directors.

On behalf of the Board

Simon Hoo

Singapore

28 February 2013

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Cordlife Ltd Directors’ Declaration

8

In accordance with a resolution of the directors of Cordlife Ltd, I state that:

In the opinion of the directors:

a) The financial statements and notes of the consolidated entity for the financial period ended 31 December 2012 are in

accordance with the Corporations Act 2001, including:

(i) giving a true and fair view of the financial position as at 31 December 2012 and the performance for the half-year

ended on that date of the consolidated entity; and

(ii) complying with Australian Accounting Standard AASB 134 “Interim Financial Reporting” and the Corporations

Regulations 2001

b) There are reasonable grounds to believe that the company will be able to pay its debts as and when they become due

and payable.

On behalf of the Board

Simon Hoo

Singapore

28 February 2013

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Cordlife Ltd Consolidated Statement of Comprehensive Income

for the half-year ended 31 December 2012

The above statement should be read in conjunction with the accompanying notes.

9

Half-year ended 31 December

2012

$’000

Half-year ended 31 December

2011

$’000

Note

Revenue 2.1(a) 5,462 3,460

Cost of sales (2,378) (1,533)

Gross profit 3,084 1,927

Other income

- Sundry income 2.1(b) 209 18

Marketing expenses (1,532) (1,351)

Administration expenses (2,843) (3,132)

Borrowing costs (209) (1,561)

Loss before income tax (1,291) (4,099)

Income tax expense (62) (9)

Loss after income tax (1,353) (4,108)

Net loss for the period (1,353) (4,108)

Other comprehensive income/(losses)

Items that may be reclassified subsequently to profit or loss

Foreign currency translation losses 43 (135)

Fair value adjustments 203 -

Total comprehensive losses for the period, net of

tax (1,107) (4,243)

Loss after income tax attributable to:

Non-controlling interests (30) (79)

Members of parent (1,323) (4,029)

(1,353) (4,108)

Total comprehensive losses attributable to:


Members of parent (1,034) (4,207)

(1,107) (4,243)

Loss per share attributable to the

ordinary share equity holders of the company:

Basic loss per share (cents per share) 7 (0.77) (2.67)

Diluted loss per share (cents per share) 7 (0.77) (2.67)For

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Cordlife Ltd Consolidated Statement of Financial Position

as at 31 December 2012


10

31 December 2012 $’000

30 June 2012 $’000

Note

Current assets

Cash and cash equivalents 1,104 1,441

Trade and other receivables 3 2,241 2,180

Prepayments 436 236

Assets classified as held for sale 9 8,340 -

Inventories 197 136

Total current assets 12,318 3,993

Non-current assets

Plant and equipment 483 548

Trade and other receivables 3 4,107 2,562

Available for sale financial asset 9 - 7,992

Deferred tax assets 5 6

Total non-current assets 4,595 11,108

Total assets 16,913 15,101

Current liabilities

Trade and other payables 4,413 2,927

Provisions 76 287

Deferred revenue 331 322

Loans and borrowings 10 1,582 -

Income tax payables 5 10

Total current liabilities 6,407 3,546

Non-current liabilities

Deferred revenue 1,182 1,145

Convertible bonds 8 1,161 1,140

Total non-current liabilities 2,343 2,285

Total liabilities 8,750 5,831

Net assets 8,163 9,270

Equity

Contributed equity 5 71,177 71,177

Foreign currency translation reserve (117) (203)

Other reserve (1,878) (1,878)

Employee equity benefits reserve 3,206 3,206

Convertible bond reserve 3,326 3,326

Fair value adjustment reserve 203 -

Accumulated losses (67,371) (66,048)

Attributable to equity holders of the parent 8,546 9,580


Total equity 8,163 9,270

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Cordlife Ltd Consolidated Statement of Cash Flows



11

Half-year ended

31 December 2012

$’000

Half-year ended

31 December 2011

$’000

Cash flows from operating activities

Receipts from customers 4,177 3,360

Payments to suppliers and employees (5,667) (5,975)

Interest received 12 223

Interest paid (85) (15)

Tax paid (16) -

Net cash flows used in operating activities (1,579) (2,407)

Cash flows from investing activities

Purchase of plant and equipment (123) (124)

Proceeds from disposal of equity investment 75 -

Release of other financial assets (restricted cash) - 7,412

Payment for refundable deposit - (5,897)

Net cash flows (used in)/from investing activities (48) 1,391

Cash flows from financing activities

Proceeds from borrowings 1,581 -

Repayments of borrowings (332) (305)

Net cash flows from/(used in) financing activities 1,249 (305)

Net decrease in cash and cash equivalents held (378) (1,321)

Cash and cash equivalents at the beginning of the

financial period 4 1,441 5,322

Effects of exchange rate changes on the balance of

cash held in foreign currencies 41 (39)

Cash and cash equivalents at the end of the

financial period 4 1,104 3,962

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Cordlife Ltd Consolidated Statement of Changes in Equity



12

Attributable to equity holders of the parent

Non-

controlling

interests

Total

Equity

Contributed

equity

$’000

Foreign

currency

translation

reserve

$’000

Accumulated

losses

$’000

Employee

equity

benefits

reserve

$’000

Converti-

ble bond

reserves

$’000

Other

reserves

$’000

Fair value

reserves

S$’000

Total

$’000 $’000 $’000

At 1 July 2012

71,177

(203)

(66,048)

3,206

3,326

(1,878)

-

9,580

(310)

9,270

Loss for the period - - (1,323) - - - - (1,323) (30) (1,353)

Other comprehensive income - 86 - - - - 203 289 (43) 246

Total comprehensive losses for the half-

year, net of tax

- 86 (1,323) - - - 203 (1,034) (73) (1,107)

Transactions with owners in their

capacity as owners

- - - - - - - - - -

At 31 December 2012 71,177 (117) (67,371) 3,206 3,326 (1,878) 203 8,546 (383) 8,163

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Cordlife Ltd Consolidated Statement of Changes in Equity



13

Attributable to equity holders of the parent Non-

controlling

interests

Total Equity

Contributed

equity

$’000

Foreign

currency

translation

reserve

$’000

Accumulated

losses

$’000

Employee

equity

benefits

reserve

$’000

Converti-

ble bond

reserves

$’000

Other

reserves

$’000

Total

$’000 $’000 $’000

At 1 July 2011

64,707

(61)

(58,428)

3,206

2,651

(1,878)

10,197

(237)

9,960

Loss for the period - - (4,029) - - - (4,029) (79) (4,108)

Other comprehensive losses - (178) - - - - (178) 43 (135)

Total comprehensive losses for the half-year,

net of tax

- (178) (4,029) - - - (4,207) (36) (4,243)

Transactions with owners in their capacity

as owners

- - - - - - - - -

At 31 December 2011 64,707 (239) (62,457) 3,206 2,651 (1,878) 5,990 (273) 5,717

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Cordlife Ltd Notes to the Financial Statements


14

For the half-year ended 31 December 2012

1. Corporate information

The condensed half-year consolidated financial statements of the Company for the six months ended 31

December 2012 were authorised for issue in accordance with a resolutions of the directors on 28 February 2013.

Cordlife Ltd is a company limited by shares, incorporated in Australia and currently trading in Australia and

Asia. The shares of the Company are publicly traded on the Australian Securities Exchange.

The Company and its controlled entities’ (“consolidated entity”) principal activities were the provision of human

umbilical cord blood banking and cord tissue banking services, which involves the processing and storage of

stem cells.

2. Basis of preparation and changes to the Group’s accounting policies

Basis of preparation

This financial report for the half-year ended 31 December 2012 is a general purpose condensed financial report

prepared in accordance with AASB 134 Interim Financial Reporting and the Corporations Act 2001.

The half-year financial report does not include all notes of the type normally included within the annual financial

report and therefore cannot be expected to provide as full an understanding of the financial performance,

financial position and financing and investing activities of the consolidated entity as the full financial report.

It is recommended that the half-year financial report should be read in conjunction with the annual report for the

year ended 30 June 2012 and considered together with any public announcements made by Cordlife Ltd and its

controlled entities during the half-year ended 31 December 2012 in accordance with the continuous disclosure

obligations of the ASX listing rules.

Accounting policies

The accounting policies adopted in the preparations of the interim condensed consolidated financial statements

are consistent with those followed in the preparation of the Company’s annual financial statements for the year

ended 30 June 2012

From 1 July 2012, the Group has adopted all Australian Accounting Standards and Interpretations, mandatory for

annual periods beginning on or after 1 July 2012.

AASB 2010-8 Amendments to Australian Accounting Standards - Deferred Tax: Recovery of Underlying

Assets [AASB 112]

AASB 2011-9 Amendments to Australian Accounting Standards -Presentation of Other Comprehensive

Income [AASB 1, 5, 7, 101, 112, 120, 121, 132, 133, 134, 1039 & 1049]

Adoption of these standards and interpretations did not have an effect on the financial position or performance of

the Group.

The Group has elected not to early adopt any new standards or amendments that are issued but not yet effective.

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Half-year ended

31 December 2012

$’000

Half-year ended

31 December 2011

$’000

2.1 Revenue

(a) Revenue

Revenue from the rendering of services 5,327 3,197

5,327 3,197

Other revenue

Interest income 5 199

Interest income on long-term trade receivables 130 64

135 263

Total revenue 5,462 3,460

(b) Other income

Sundry income 21 7

Gain on disposal of fixed assets 1 -

Gain on disposal of other investment 75 -

Foreign exchange gain 112 11

209 18

Total revenue and other income 5,671 3,478

2.2 Losses before income tax

Losses before income tax includes the following items of expense:

Half-year ended

31 December 2012

$’000

Half-year ended

31 December 2011

$’000

Depreciation of property, plant and equipment 164 164

Operating lease expenses – rental expenses 191 186

Staff costs 1,951 1,859

Other expenses:

Legal and professional fees 248 304

Business travel 353 552

Consultancy 50 425

Advertising and promotion 420 311

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31 December 2012 $’000

30 June 2012 $’000

3 Trade and other receivables

Current

Trade receivables

1,351 1,574

Goods and services tax recoverable 104 70

Interest and other receivables 678 536

Deposits 108 -

2,241 2,180

Non-current trade receivables 4,107 2,562

4,107 2,562

Total trade and other receivables 6,348 4,742

4 Notes to statement of cash flows

For the purpose of the statement of

cash flows, cash includes cash on hand

and in banks. Cash at the end of the

financial period as shown in the

statement of cash flows is reconciled to

the related items in the balance sheet as

follows:

Cash at bank and in hand 1,133 1,371

Bank overdraft (29) -

Term deposits with banks - 70

1,104 1,441

31 December 2012

$’000

30 June 2012

$’000

5 Contributed equity

Balance at beginning of the period 71,177 64,707

Issue of shares during the period - 6,470

Balance at end of the period 71,177 71,177

6 Non-controlling interests

Non-controlling interests represent the interests in Cordlife Sciences (India) Pvt Ltd and PT Cordlife Indonesia

not held by the Group.

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Half-year ended

31 December 2012

Half-year ended

31 December 2011

7 Loss per share

Net loss for the period attributable to members $(1,323,000) $(4,029,000)

Weighted average number of ordinary shares for

basic and diluted loss per share

172,687,354 150,887,354

Basic and diluted loss per share (cents) (0.77) (2.67)

Total options considered anti-dilutive, which could be dilutive in the future, amounts to Nil as 31 December 2012

(June 2012: Nil). This does not include the estimated 869,000 shares potentially issuable by the subsidiary company,

CS Cell Technologies Pte Ltd, on conversion of the 2012 convertible bond disclosed in note 8.

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8 Convertible bonds

2011 Bond Agreement

On 14 May 2011, Cordlife Ltd issued Bonds to City Challenge Global Limited (“the bond holder”) to

secure additional funding of A$7,412,000 under a Bond Agreement, which was used for the continued

development of the developing businesses of the Group. Under the terms of the Bond Agreement, Cordlife

Ltd granted the bond holder options to subscribe to 21,800,000 shares with an exercise price of A$0.40 per

share.

During the 2012 financial year, pursuant to the Bond Agreement, a trigger event, being the admission of

Cordlife Singapore Pte Ltd to the Singapore Stock Exchange, occurred resulting in the exercise of the share

options by the bond holder.

Under the Bond Agreement, the exercise of the options by the bond holder was deemed to be a redemption

notice by the bond holder. As a result, the Bonds were redeemed at the issue price of A$7,412,000 plus a

yield of 15% per annum up to the redemption notice date.

In accordance with the Bond Agreement, this was applied against the exercise price of the options

($8,720,000), resulting in a net receipt of A$474,150 by Cordlife Ltd during the year ended 30 June 2012.

2012 CS Cell Technologies Pte Ltd Convertible Bond

In March 2012, Cordlife Ltd’s wholly owned subsidiary, CS Cell Technologies Pte Ltd issued convertible

bonds of S$1,500,000 (equivalent to A$1,161,000) to Cordlife Group Limited, an unrelated entity listed on

the Singapore Stock Exchange, to fund the Group’s expansion of the Indian operations.

The bond has a redemption value of S$2,160,000 (equivalent to A$1,671,840), an actual and implied yield

of 20% per annum with a maturity period of 2 years. The bond holder has the option to convert the bond

into ordinary shares of CS Cell Technologies Pte Ltd at any time on or after falling 6 months from 7 March

2012 (the "issue date”).

Upon conversion of the option by the bond holder or on maturity date (“conversion date”), the aggregate of

the principal amount of the convertible bond and the interest accreted thereon from the issue date to the

conversion date will be divided by the contracted conversion price to derive the number of shares which the

bond holder is entitled to receive. By mutual agreement, the number of shares on issue has been fixed over

the term of the bond.

At conversion date, the bond holder will acquire an equity stake in CS Cell Technologies Pte Ltd not

exceeding 30%.

The fair value of the liability portion of the convertible bond on initial recognition was estimated using an

equivalent interest rate for the issuer for an instrument with similar terms but without the conversion option.

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9 Financial assets

On 31 March 2012, Cordlife Ltd’s wholly owned subsidiary, Cordlife Services (S) Pte Ltd acquired 17% stake in

Favorable Fort Limited, which owns a 24% equity stake in Shandong Qilu. This gives Cordlife an effective 4.08%

interest in Shandong Qilu. The purchase consideration was US$8,160,000 (equivalent to A$7,992,000 at the time).

Shandong Qilu is the only cord blood banking operator authorised to conduct business in Shandong province by

China’s Ministry of Health.

On 6 December 2012, Cordlife Ltd has entered into a conditional Share Purchase Agreement to sell its interest in

Favorable Fort Limited for US$ 8,650,000 (A$8,340,000) (“the Shandong sale”). Based on this transaction, the

carrying value of the investment has been revised upwards by $203,000 through Other Reserves to $8,340,000.

The sale would be effected by way of a share repurchase by Favorable Fort, pursuant to which Cordlife Ltd will

effectively be selling its entire interest in Favorable Fort ( and as a result, its interest in the Shandong Cord Blood

Bank). In January 2013, the Shandong sale was approved by shareholders at an Extraordinary General Meeting

and completed on 7 February 2013. The disposal will be reflected in the second half of the 2013 financial year.

10 Loans and borrowings

During the period, Cordife Ltd has made draw down of S$2,000,000 (equivalent to A$1,582,000) from the loan

facility secured from City Challenge Global Limited for working capital purposes.

The loan is repayable within two years after the date of loan agreement. Interest is payable on quarterly basis at

12% p.a. The facility is secured by 1,700 shares representing 17% of the issued share capital of Favorable Fort

Limited. It has been classified as short-term because the Company may be required to repay this loan upon

disposal of 17% shareholdings in Favorable Fort Limited within 12 months.

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11 Controlled entities

The consolidated financial statements include the financial statements of Cordlife Ltd and the

subsidiaries listed in the following table.

Name of entity Country of

incorporation

Ownership interest

Ownership interest

31/12/2012 %

30/6/2012 %

Parent entity

Cordlife Ltd Australia

Controlled entities

Cordlife International Pte Ltd Singapore 100 100

Cordlife Services (S) Pte Ltd Singapore 100 100

Cordlife Pty Ltd Australia 100 100

Cordlife Stem Cell Technology

Limited

Hong Kong 100 100

Cordlife Sciences Ltd Thailand 100 100

Cygenics (Thailand) Ltd* Thailand 49 49

Cordlife Sciences (India) Pvt Ltd India 85 85

PT Cordlife Indonesia Indonesia 65 65

Cordlife Medical Phils Inc Philippines 100 100

CLS Services B.V.@ Netherlands 100 100

CS Cell Technologies Pte Ltd+ Singapore 100 100

* Cygenics (Thailand) Ltd is considered a controlled entity as Cordlife Ltd has 99% of the voting

rights and share of profits

@ Under liquidation

+ Investment held by Cordlife Services (S) Pte Ltd

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12 Segment information

The Group has identified its operating segments based on the internal reports that are reviewed and used by

the executive management team (the chief operating decision makers) in assessing performance and in

determining the allocation of resources.

The operating segments are identified by management based on the manner in which the product is sold, the

nature and similarity of services provided, the method of service delivery, gross margin, types of customers

and risks associated with the geographical market, as these are the sources of the Group’s major risks and

has the most effect on the rates of return. Discrete financial information of each of these operating segments

is reported to the executive management team on at least a monthly basis.

Based on the above, management has identified Indonesia, India and Philippines as reportable segments.

All segments are in the business of providing cord blood banking services, which involves the processing

and storage of stem cells to their respective locations.

The following items and associated assets and liabilities are not allocated to operating segments as they are

not considered part of the core operations of any segment:

Corporate costs

Share of losses and impairment losses of associates

Interest income excluding interest income on long-term trade receivables

Net gains and losses on disposal of subsidiary

Interest expense

Share-based payments

Income tax expense

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Half-year ended 31 December 2012

Half- year ended 31 December 2011

Indonesia

$'000

India

$'000

Philippines

$'000

Others

$'000

Total

$'000

Revenue from external customers 551 1,442 680 264 2,937

Commission revenue 251 - 9 - 260

Interest income on long-term trade

receivables 36 24 4 - 64 Subtotal 838 1,466 693 264 3,261

Unallocated revenue:

Interest income^ 199

Total consolidated revenue 3,460

^$35,000 of interest income was derived in the Group’s country of domicile, Australia.

12 Segment information (continued)

(a) Segment revenue

Indonesia

$'000

India

$'000

Philippines

$'000

Others

$'000

Total

$'000

Revenue from external customers 687 2,204 1,295 819 5,005

Commission revenue 307 - 15 - 322

Interest income on long-term trade

receivables 50 67 13 - 130 Subtotal 1,044 2,271 1,323 819 5,457

Unallocated revenue:

Interest income 5

Total consolidated revenue 5,462

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12 Segment information (continued)

(b) Segment results

Half-year ended

31 December

2012

Half-year ended

31 December

2011

$'000 $'000

Segment profits/(losses):

- India (182) (524)

- Philippines 259 (170)

- Indonesia (58) (396)

- Other 436 (199) 455 (1,289)

Unallocated income/ (expense):

Interest income 5 6

Interest expense (209) (1,561)

Corporate costs (1,481) (1,435)

Unallocated (61) (180) Loss from continuing operations before income tax expense (1,291) (4,099)

Income tax expense – current tax (62) (9) Loss from continuing operations after income tax expense (1,353) (4,108)

Assets Liabilities

$'000 $'000

Segment assets and liabilities

31 December 2012

Segment assets and liabilities:

- India 3,326 4,419

- Philippines 2,117 3,660

- Indonesia 2,321 6,330

- Other 1,343 1,236 Eliminations (1,391) (12,297)

Corporate assets/ liabilities 8,510 2,814

Unallocated 687 2,588 Consolidated 16,913 8,750 Segment assets and liabilities

30 June 2012

Segment assets and liabilities:

- India 2,513 3,563

- Philippines 1,616 3,278

- Indonesia 2,180 5,834

- Other 784 1,120 Eliminations (268) (10,180)

Corporate assets/ liabilities 8,375 1,166

Unallocated (99) 1,050 Consolidated 15,101 5,831

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13 Subsequent events

Other than the approval and completion of the Shandong sale (refer note 9), there has not been any matter or

circumstance that has arisen since the end of the half-year period that has significantly affected, or may

significantly affect, the operations of the consolidated entity, the results of those operations, or the state of

affairs of the consolidated entity in future financial periods.

14

Contingent liabilities and contingent assets

Since the last annual reporting date, there have been no material changes in contingent assets or liabilities.

15 Options and Performance Rights Plan

During the financial period no options were granted.

16 Dividends

The company did not pay any dividends during the half-year period. The Directors do not recommend the

payment of a dividend in respect of the half-year period.

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Appendix 4D

Half Year Report

25

Appendix 4D

Half Year Report

1. Company details

Name of entity

Cordlife Ltd

ABN Half year ended

48 108 051 529 31 December 2012

The previous corresponding period refers to the comparative amounts for the half-year period

ended 31 December 2011.

2. Results for announcement to the market A$’000

2.1 Total revenues : up 58% to 5,462

2.2 Net loss for the period attributable

to members : down 67% to (1,323)

2.3 Dividends : Nil

Refer to the Review and results of operations in the Directors Report

3. Net tangible assets backing per ordinary security

As at 31 December 2012 : 4.7 cents

As at 31 December 2011 : 3.8 cents

4. Control gained or lost over entities

Please refer to note 11 of the Condensed Half-Year Financial Report

5. Dividends

No dividend was paid during the half-year period. The Directors do not recommend the

payment of a dividend in respect of the half-year period.

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Appendix 4D

Half Year Report

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6. Dividend reinvestment plans

Not applicable

7. Details of associates and joint venture entities

Not applicable

8. Foreign entities

Please refer to note 11 of the Condensed Half-Year Financial Report.

9. Review of the half year financial report

This report is based on accounts which have been reviewed.

Sign here:

Simon Hoo

Singapore

28 February 2013

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Documents

Cordlife Ltd For personal use only · Cordlife Ltd and its controlled entities for the period from 1 July 2012 to 31 December 2012. Details of controlled entities are set out in note