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Annual Report & Accounts 2014 - REPORT OF THE GROUP FINANCE DIRECTOR
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ANNUAL REPORT 2014 16 rEport oF thE GroUp FINaNcE DIrEctor continued the fair value has been discounted to reflect this. accordingly, the put valuation results in a modest non-cash impairment. the options are required to be revalued at each reporting date. cUrrENcY ExpoSUrES during the year, the charge to operating costs within the income statement from realised and unrealised foreign exchange was €0.3 million. in addition the william hill loan is denominated in sterling (4.6 million) and incurred an unrealised loss of €0.5 million included within financial expenses. many non-euro currencies are handled by the group's payment processing intermediaries up-front. additionally, the net current assets of the group are revalued each month at month-end exchange rates and this also results in exchange gains and losses. the principal revaluations are for customer liabilities, although these are now largely currency matched to produce a natural hedge. Future trading updates and financial calendar it is anticipated that gvc will make further announcements on or around the following dates: w/c 23 march 2015 - publication of report and accounts on the company's website, www.gvc-plc.com 7 april 2015 - posting of r&as and notice of agm 5 may 2015 - agm trading update, result of agm 6 may 2015 - payment of final dividend w/c 6 July 2015 - h1 trading update and announcement of dividend w/c 18 august 2014 - payment of quarterly dividend w/c 21 september 2015 - interim results richard cooper group finance director 20 march 2015