Cellmid 2017 Annual Report
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:
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.