Parmalat Class, FYE 2002 Performance and strategies, , Milan – Slide thirteen

It independence commonly allow renegotiation towards lso are resource of the debt with the beneficial conditions. Cfr Cucinotta, Stand Bocchi G. G. out-of – E-mail delivered or acquired of the Dr. Ferraris, accessory zero.

42 560 information regarding the region away from opportunities are very different “with regards to the individual of guidance” as the cited below: “In order to auditors, regarding the harmony sheets, exchangeability are recorded as being from inside the”:

Auditors dining table Countless euros % Italy 372 10

4% European countries 368 10.3% North america * dos,735 76.5% Central America 69 1.9% South america 9 0.3% Africa eleven 0.3% China dos 0.1% Australia 7 0.2% Total 3,573 100% * United states has the fresh Cayman Is, “I informed Standard &. Poor’s that the exchangeability had been held about following regions”

Parfin consolidation domain Bonlat1 % Bonlat Quick assets 951 436 forty five.8% Securities printed to help you working-capital dos,413 dos,127 88.1% Complete € step three,364 dos,563 76.2% From the Predicated on recommendations Parfin sent the latest CONSOB towards the 21/7/03, the group’s liquidity (“cash”) at the end of 2002 plus in are recorded as being centered, other than at Bonlat, in the several Dutch however this is (Parmalat Loans Firm BV and you can Parmalat Netherlands BV) since revealed regarding the following desk:

Parmalat group – Conclusion because of the depositary providers from possessions balance from latest levels at banking institutions Providers within at Bonlat Financial support Agency 43(5 forty five.8% 645 68.3% Parmalat Finanziaria Health spa step three 0.3% 15 step one.6% Parmalat Salon 66 6.9% 68 7.2% Parmalat Funds Firm BV 191′ 20.1% 117 several.4% Parmalat Netherlands BV 112J eleven.8% ten step one.1% PDBI Exchangeability Administration Hungary 34 step three.6% 0 Parmalat Milk products & Bakery 18 step 1.9% 0 Parmalat Restaurants Inc, 0 -,- 23 2.4% Indulac step three 0.3% 13 1.4% Total On Principal DEPOSITARIES12 863 90.7% 891 94.4% Other programs 88 9.3% 53 5.6% Total Exchangeability 951 one hundred.0% 944 100.0% Overall Liquidity Excluding BONLAT 515 54.2% 299 29.7% Numbers inside millions of euros Dominating numbers; at which 189 from the San Paolo-IMI. from which 109 at San Paolo- IMI The latest CONSOB was therefore in a position to influence one to “a huge part of the Parmalat group’s exchangeability is actually centered within the latest Bonlat Funding Organization, head office towards Cayman Is actually., a part regulated ultimately from Parmalat Day spa sandwich-group”eleven. In more detail by detail trend, the fresh new “liquidity” of your Parmalat group traceable to Bonlat is actually submitted while the becoming marketed ergo: a dozen Consob – Declaration 3082946 out of ; re: Are accountable to bodies regarding you’ll be able to criminal activity – attachment 9 pp. 14-15; Detail//Article on this new depositaries of group’s exchangeability because an amount of your own prominent quantity. eleven Consob – Statement 3082285 off ; re: Parmalat Finanziaria Day spa – Report to government of suspicion out of criminal activity, p. step 3.

Quick assets published into the Bonlat equilibrium sheet during the Current membership at the Financial off The united states 320 Cheques 116 Total € 436

So it scale was suggested by the Grant Thornton and you will approved while in the consolidation of one’s balance piece (in fact 2,374 – 143 = dos,231 USD where dos,23step 1/1

Securities released to working capital during the Bonlat statement of finance on Securities transferred during the Bank of The united states 819 Epicurum Financing 504 Promissory cards 804 Overall € 2,127 The amount of “Bonlat liquidity” at the while the determined by the newest CONSOB is different from you to found regarding minutes of one’s Panel regarding Legal Auditors to your 10/4/03 plus its accessory. “Bonlat exchangeability” as mentioned regarding the Board away from Legal Auditors moments, is bound in order to “bonds at the office resource during the collection regarding subsidiary Bonlat” and that is respected in the euro dos,374,373,114. The brand new attachment suggests but not that the money unit are USD, maybe not euros. Also, aside from and that device of membership is employed, brand new figures throughout the Panel from Statutory Auditors times commonly verified of the that from the newest CONSOB. In fact, converted into euros, the level of brand new “bonds from inside the working-capital” was comparable to dos,264 mil, whilst in accordance to your CONSOB it would be dos,127. The new communication off viewpoints is unquestionably noticeable to the level of the main city authorized on the Epicurum Loans, particularly 504 mil euros (529/step one.0487 = 504). From the Panel away from Legal Auditors moments in fact the new reclassification out-of the brand new promissory notes off working-capital in order to repaired financial assets from inside the the level of USD 143 mil otherwise euro 120 billion is actually forgotten. 0487 = 2127).At meeting with the fresh new monetary analysts into 10/4/03 all the info towards liquidity appeared as if given generally as the a good example/statements of one’s numbers included in the following table: fourteen Specifically, p. 02 of the moments off ten/4/03 the brand new Panel out-of Statutory Auditors Parmalat Finanziaria health spa, Interviewing brand new auditing agencies Deloitte and you may Offer Thornton: Request information on Cards from the group’s liquidity. 15 Document “Lso are Bonlat Ties”, sent to your via fax off Give Thornton Spa by Dr. Verde in order to Dr. Brughera. sixteen The brand new CONSOB – Statement 3082285 off ; re: Parmalat Finanziaria health spa-Report to the authorities out-of uncertainty out-of crime, p.3; p. step three. 17 Financial support development towards the euro/USD exchange rate of just one.0487 from like in quotations utilized in conversion regarding harmony sheet sets into pp. 112-113 of the Parmalat Finanziaria Salon consolidated statement of finance – printed adaptation. 18 Capital growth to your euro/USD exchange rate of just one.0487 of such as quotations found in transformation regarding equilibrium sheet sets with the pp. 112-113 of Parmalat Finanziaria Day spa consolidated statement of finance – released type 19 The newest CONSOB Report 3082946 off , re: Report to the police of uncertainty out of criminal activity, p.step three – attachment 19, pp. 6-7: Bonlat – Memo. 20 Parmalat Category, FYE 2002 Results and methods, , Milan – Slide 12