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NOTES TO THE FINANCIAL STATEMENTS CONTINUED

NOTE 38 — RELATED PARTIES CONTINUED

Interest in partnerships

Refer to Notes 11, 16, 31, 33 and 36.

Rent of premises

The Parent Entity occupies premises owned by a wholly-owned controlled entity, The Greater Union Organisation Pty Limited.
The Parent Entity was not charged rent for these premises.

Key management personnel

Disclosures relating to directors and named executives are set out in Note 37.

NOTE 39 — RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES

The Group Parent Entity

2007
$’000
2006
$’000
2007
$’000
2006
$’000
Reconciliation of profit after related income tax expense to
net cash provided/(used) by operating activities
Profit after income tax expense 82,171 59,508 14,133 12,323
Profit on sale of non-current assets (27,737) (4,651) (3,779) (5,759)
Depreciation and carrying value adjustments 23,897 30,774 40 48
Amortisation and carrying value adjustments 4,875 5,100 69 45
(Decrease)/increase in provisions (7,265) (9,057) 157 257
Decrease in income taxes payable (1,520) (1,570) (17,242) (13,210)
Fair value increment (4,879) (992) — —
Share-based payments 477 506 306 273
Equity accounted investment decreases 42,320 21,816 — —
Share of associates’ and partnerships’ net profit (44,738) (45,515) — —
Unrealised foreign exchange losses (61) (117) — —
Net cash provided/(used) by operating activities before change
in assets and liabilities
Change in assets and liabilities adjusted for effects of consolidation of
controlled entities acquired/disposed during the year:
Intercompany revenue
Intercompany expense
(Increase)/decrease in receivables
(Increase)/decrease in inventories
(Increase)/decrease in other current assets
Decrease/(increase) in creditors and accruals
Increase/(decrease) in deferred tax items
Increase in other liabilities
67,540
—
—
(8,806)
(407)
(1,758)
(2,795)
3,451
5,826
55,802
—
—
7,874
73
(1,869)
5,274
(1,162)
4,930
(6,316)
(30,181)
12,020
(20)
—
(4)
(5)
—
—
(6,023)
(29,941)
10,522
153
—
20
(46)
—
—
Net cash provided/(used) by operating activities 63,051 70,922 (24,506) (25,315)

NOTE 40 — EVENTS SUBSEQUENT TO REPORTING DATE

Sale of interest in Roadshow Distributors Pty Limited

On 15 August 2007, the Company announced the sale of the 50% shareholding in Roadshow Distributors Pty Limited, an
associate as at 30 June 2007. The sale price was $129,440,000 including the extinguishment of $34,440,000 in loans from a
Group entity and cash proceeds of $95,000,000.

The pre-tax profit on sale of the Group’s interest in Roadshow Distributors Pty Limited was $64,382,000.

Dividends

For final dividends declared after 30 June 2007, see Note 8.

DIRECTORS’ DECLARATION

1.
In the opinion of the directors of Amalgamated Holdings Limited:
(a) the financial statements and notes, set out on pages 46 to 108, and the remuneration disclosures that are contained in
the remuneration report in the directors’ report set out on pages 26 to 44, are in accordance with the Corporations Act
2001, including:
(i)
giving a true and fair view of the financial position of the Parent Entity and the Group’s financial position as at
30 June 2007 and of their performance for the financial year ended on that date; and
(ii)
complying with Australian Accounting Standards (including the Australian Accounting Interpretations) and the
Corporations Regulations 2001;
(b) there are reasonable grounds to believe that the Parent Entity will be able to pay its debts as and when they become due
and payable.
2.
There are reasonable grounds to believe that the Parent Entity and the subsidiaries identified in Note 32 will be able to meet
any obligations or liabilities to which they are or may become subject by virtue of the Deed of Cross Guarantee between the
Company and those subsidiaries pursuant to ASIC Class Order 98/1418.
3.
The directors have been given the declarations required by section 295A of the Corporations Act 2001 from the chief executive
officer and chief financial officer for the year ended 30 June 2007.
Dated at Sydney this 23rd day of August 2007.
Signed in accordance with a resolution of the directors:

AG Rydge
DC Seargeant

Director
Director