Notes to the Financial Statements
103
Notes to the Financial Statements
continued
u
The contractual cash flows presented above in respect of 30 June 2013 and the increase in the one year or less time category of $46,132,000 when 
compared to 30 June 2012 mainly relates to classification of the corporate loan facility of $20,000,000 and the convertible loan facility of $35,000,000 as 
current liability at 30 June 2013. These facilities were mainly included in the one to two years and two to five years’ time category at 30 June 2012. As indi-
cated in Note 16, these facilities have been classified as current liabilities at 30 June 2013 on the basis that at balance sheet date it was the Group’s intention 
to restructure and amalgamate these facilities in the next financial year.
Subsequent to the end of the financial year, the Group has received from its lenders a credit approved term sheet (subject to formal documentation) for the 
restructure of the corporate loan and convertible loan facilities. Following completion of the restructure the total amount outstanding will be reduced to 
$40,000,000. This loan will be provided through a single senior corporate facility which will consist of two tranches:
〉〉 Tranche one will be a $25,000,000 Akara Pre IPO Bond with a maturity date of 31 July 2015. The current intention is for this tranche to be repaid as part 
of the Akara IPO although at Kingsgate’s election repayment can be made by either cash or in Kingsgate’s shares.
〉〉 Tranche two is an amortising facility with $5,000,000 to be repaid during the 2014 financial year and the balance of $10,000,000 repaid during the 2015 
financial year.
The Group also has a three year $25,000,000 Convertible Revolving Credit Facility available. At the date of this report the facility is undrawn. Under the 
terms of this facility, Kingsgate has the option of repaying any funds drawn down under the facility through either cash or by issuing ordinary shares. It is 
intended that this facility will be utilised during the 2014 financial year for corporate and working capital purposes. It is the current intention of the Company 
to repay any cash drawdown under the facility by issuance of fully paid ordinary shares which would rank parri pasu with all existing ordinary shares, although 
this position will be reviewed at the appropriate time. The number of shares has not yet been determined and they will be issued at a 2.5% discount to VWAP 
over a period by reference to the draw down date. Shareholder approval is not required.
As indicated in Note 16, Kingsgate’s Thai operating subsidiary, Akara, established a six year amortising multi-currency loan facility equivalent to 
US$125,000,000 (fully drawn as at year end) and an additional Thai Baht denominated working capital facility equivalent to US$15,000,000 (undrawn as at 
year end) during the period. The proceeds from these borrowings were used to fully repay the outstanding balance on the US$100,000,000 Baht denomi-
nated syndicated loan facility in existence at the beginning of the period as well as to repay part of the corporate loan facility noted above.
(d) Fair value measurements
The carrying values of financial assets and liabilities of the Group approximate their fair values. Fair values of financial assets and liabilities have been deter-
mined for measurement and / or disclosure purposes.
Fair value hierarchy
The Group classifies assets and liabilities carried at fair value using a fair value hierarchy that reflects the significance of the inputs used in determining that 
value. The table following analyses financial instruments carried at fair value, by the valuation method. The different levels in the hierarchy have been defined 
as follows:
〉〉 Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities;