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Annual Report & Accounts 2014 - NOTES TO THE COMPANY FINANCIAL STATEMENTS
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7. CReDitoRS: amoUntS FallinG DUe aFteR moRe than one yeaR continued The facility is repayable in three instalments (with the first instalment paid in December 2014) and these as well as the impact of the discount are shown below: amount in euro's nonbase Current current Currency total liabilities liabilities 000's €000's €000's €000's Loan balance at 1 January 2014 6,862 8,256 Repayment of first instalment (2,271) (2,856) Revaluation at 31 December 2014 exchange rate - 467 4,591 5,867 (i) the second instalment by no later than 31 December 2015; and 2,295 2,933 2,933 - (ii) by no later than 30 June 2016, the balance of the facility 2,296 2,934 - 2,934 loan balance before discount 4,591 5,867 2,933 2,934 Discount on recognition of the loan - (780) (623) (157) Unwinding of discount at 31 December 2014 - 424 424 - loan balance at 31 December 2014 - 5,511 2,734 2,777 Future discount - 356 237 119 4,591 5,867 2,971 2,896 8. CalleD Up eQUity ShaRe Capital On 21 May 2010 shareholders of Gaming VC Holdings S.A., approved a redomiciliation to Luxembourg which resulted, pari passu, in shareholders holding shares with a nominal value of €0.01 in GVC Holdings PLC. As a result of this transaction, GVC Holdings PLC acquired all the assets and liabilities of Gaming VC Holdings S.A. Arising from this transaction was the creation of a Merger Reserve, which is distributable. The authorised and issued share capital is: 2014 2013 €000's €000's authorised Ordinary shares of €0.01 each At 31 December - 80,000,000 shares (2013: 80,000,000 shares)* 800 800 issued, Called Up and Fully paid At 31 December - 61,276,480 shares (2013: 60,906,760 shares) 613 609 * The authorised share capital was increase as part of the Group's acquisition of Sportingbet PLC The issued share capital history is shown below: 2004 to 2011 2012 2013 2014 Balance at 1 January - 31,469,095 31,592,172 60,906,760 Shares issued on initial listing in 2004 31,135,762 - - - Share options exercised - at 1.00 233,333 - - 26,667 - at 1.26 100,000 - 165,000 - - at 1.29 - 123,077 31,513 - - at 2.36 - - - 343,053 - at €0.01 - - 100,000 - Issue of shares for acquisition - - 29,018,075 - Balance at 31 December 31,469,095 31,592,172 60,906,760 61,276,480 The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the Company. However, should the Company not be satisfied as to the true identity of the shareholders it can suspend the entitlement of those shareholders to receive dividends. ANNUAL REPORT 2014 74 noteS to the Company FinanCial StatementS continued for the year ended 31 December 2014