Subject to the liabilities described in
2 4(A)(a) above and RTV's convertible loan
ck being disregarded RHK warrants that the assets
nd liabilities of RTV as at 31st December, 1980
were substantially as follows and,
follows and, as such, the
following is a substantially accurate statement of the assets and liabilities of RTV as at that date:
Fixed assets
Pre-operating costs
Current assets
Stock at cost less provision
for obsolence
3.0
Programme and film stocks at
cost less amortisation
36.1
Airtime debtors less provision
for doubtful debts
16.0
Other debtors less provision
3.1
Utility and other deposits
0.2
Cash and bank balances
0.3
58.7
Current liabilities
Sundry creditors and accrued
expenses
Unsecured loan
Net Assets
HK$M
25.5
0.85
22.4
1.485
34.815
61.165
8.
RHK further warrants that RTV's unaudited trading figures for the year ending 31st December,
1980 show:
7.
}