Cellmid 2017 Annual Report

NOTES TO THE

FINANCIAL STATEMENTS

CONTINUED

Interest rate risk

The Group’s main interest rate risk arises from deposits with banks and other ﬁnancial institutions.

Deposits made at variable rates expose the Group to interest rate risk. Management maintains approximately 100% of deposits

with banks at call on variable interest rates.

The Group has performed a sensitivity analysis relating to its exposure to interest rate risk at the end of the ﬁnancial year. The

sensitivity analysis demonstrates the effect on the current year results and equity which could result from a change in this risk.

At the end of the ﬁnancial year, the effect on proﬁt and equity as a result of changes in the interest rate with all other variables

remaining constant would be as follows:

25. INTERESTS IN SUBSIDIARIES

The consolidated ﬁnancial statements incorporate the assets, liabilities and results of the following wholly-owned subsidiaries

in accordance with the accounting policy described in Note 1:

Proﬁt Equity

$ $

Year ended 30 June 2017

+/- 1% in foreign exchange rates +/- 39,946 +/- 39,946

Year ended 30 June 2016

+/- 1% in foreign exchange rates +/- 26,863 +/- 26,863

Name Country of Percentage Owned (%) Percentage Owned (%)

Incorporation 2017 2016

Subsidiaries of Cellmid Limited:

Advangen Limited Australia 100 100

Kinera Limited Australia 100 100

Lyramid Limited Australia 100 100

Subsidiaries of Advangen Limited:

Advangen International Pty Ltd Australia 100 100

Advangen Incorporated Japan 100 100

Advangen LLC USA 100 -

Guarantees entered into by the parent entity in relation to the debts of its subsidiaries

On 30 June 2016, Cellmid Limited entered into a deed of cross guarantee to support the liabilities and obligations of four of its

wholly-owned subsidiaries, Advangen Limited, Kinera Limited, Lyramid Limited and Advangen International Pty Ltd. By entering

into the deed, the wholly-owned unlisted public entities have been relieved from the requirement to prepare a ﬁnancial report

and directors’ report under Class Order 98/1418 issued by the Australian Securities and Investments Commission.