64
TIH Limited
23 Basic and diluted earnings per share
(a)
Basic earnings per share
For the year ended 31 December 2014, basic earnings per share is calculated by dividing the
consolidated net profit attributable to owners of the Company of $591,000 (2013: $42,717,000) by
the weighted average number of ordinary shares in issue of 237,462,344 (2013: 234,314,106).
Weighted average number of ordinary shares
Group
2014
2013
’000
’000
Issued ordinary shares at beginning of the year
234,314
234,314
Effect of shares issued on exercise of bonus warrants
2,218
–
Effect of conversion of convertible bonds
930
–
Weighted average number of ordinary shares at end of year
237,462
234,314
(b)
Diluted earnings per share
Diluted earnings per share is the same as basic earnings per share. Outstanding warrants and
convertible bonds have not been included in the calculation of diluted earnings per share because
they were anti-dilutive, as the exercise price of the warrants and the stipulated automatic conversion
price of the convertible bonds are higher than the average market price as at reporting date.
24 Operating leases
Leases as lessee
Non-cancellable operating lease rentals are payable as follows:
Group
2014
2013
$’000
$’000
Within one year
170
–
Between one and five years
51
–
221
–
The Group has leasing arrangements that run for an initial period of 2 years. None of the leases have any
contingent leasing arrangements.
