Efectos de los agrotoxicos en la salud humana

Balance at the beginning of the year 21,919 21,919

Transfer to Stated Capital - ordinary shares (21,034 ) — Equity portion of preference shares disclosed separately - note 12.2 (885 ) —

Balance at the end of the year — 21,919

12.1 equity Application Account

Balance at the beginning of the year 207,858 207,858

Transfer to Stated Capital (207,858 ) —

Balance at the end of the year — 207,858

12.2 Preference Shares

2 301 000 - 8% redeemable cumulative preference shares of P1 each,

held by the Government of Botswana

Total nominal value 2,301 2,301

Equity portion of preference shares disclosed under non current liabilities (1,416 ) (1,416 ) Equity portion of preference shares disclosed separately - note 12 885 885

13 Stated Capital

Balance at the beginning of the year — —

Transfer from Notional Ordinary Share Capital - ordinary shares 21,034 — Transfer from Equity Application Account 207,858 —

Balance at the end of the year 228,892 —

Botswana Telecommunications Corporation, a statutory body, was converted to a public

company limited by shares on the 1st November 2012. The financial interest of the Botswana Government  in the Corporation were converted into shares in the capital of the company.

As at date of conversion the Government of Botswana remained the sole shareholder. Any act lawfully performed by the Corporation under the BTC act and before the conversion date, shall continue to be valid and shall be performed by the Company as per the BTC Transition Act.

14 REVALUATION RESERVE

Properties revaluation reserve

Balance at the beginning of the year 198,677 63,171

Depreciation transfer for land and buildings (12,976 ) (3,225 )

Increase for the year — 138,731

Balance at the end of the year 185,701 198,677

Total other reserves 185,701 198,677

BOTSWANA TELECOMMUNICATIONS CORPORATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

2013 2012 P’000 P’000

15 DIVIDENDS AND PREFERENCE SHARE INTEREST

Preference share interest

Preference share interest owing at the beginning of the year 184 184 8% redeemable cumulative preference shares-declared during the year 184 184

Amount paid during the year (184 ) (184 )

Amount payable at end of year 184 184

Equity dividends:

Dividend proposed for approval (not recognised as a liability) — 59,216

Total dividends 184 59,400

Dividend per share — 281.5

The current preference dividend amounting to P184,000 is payable as approved by the Board of the company. The preference shares are a part of a compound financial instrument comprising an equity portion and a liability portion. Consequently, the compound financial

instrument has been split into the equity and liability components (Note 12). The dividends on

preference shares have been classified as interest cost and are included as part of finance cost (Note 4.2). The dividend is payable at the beginning of the next financial year, bears no

interest and it is unsecured.

In prior years dividends amounting to 25% of the company profits were payable to the Government in line with the requirements of the Government directive CAB 40/2004. Since BTCL is now required to pay tax in terms of the Income Tax Act this obligation now falls

away. BTCL shall now declare dividends in compliance with the relevant provisions of the Companies Act. Notional ordinary share capital has been converted into Stated Capital of 1,000,000 shares during the year under review. The Government of Botswana is the sole shareholder in BTCL.

16 DEVELOPMENT GRANTS

Balance at the beginning of the year 280,259 205,970 Grants received during the year 21,818 114,777 Recognised as income during the year (38,669 ) (40,489 ) Balance at end of the year 263,408 280,259

Current portion of development grant 38,669 40,489 Non-current portion of development grant 224,740 239,770 263,408 280,259

The cumulative grants received to date are P509,325,983.70 (2012: P487,507,734). These grants are for the purpose of funding the Company’s expansion in rural districts in terms of National Development Plan 8 and called the Nteletsa projects. The portion of the

grants recognised as income during the year is based on the useful life of plant and equipment which was funded by the above grants. BOTSWANA TELECOMMUNICATIONS CORPORATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

2013 2012 P’000 P’000

17 DEFERRED REVENUE

Balance at beginning of the year 104,939 81,049 Deferred revenue received during the year — 42,000

Deferred revenue recognised as income

- fibres (123 ) (123 )

- mini links — (36 )

- Network Upgrade -Government of Botswana (GOB) (15,701 ) (15,845 ) - Transkalahari Upgrade (DWDM) (11,544 ) (2,106 )

Balance at end of the year 77,571 104,939

Current portion of deferred revenue - Note 18 27,368 18,111

Non-current portion of deferred revenue 50,203 86,828 77,571 104,939

The deferred revenue comprises an amount received from the Water Utilities Corporation of

P7,059,000 (2012:P7,059,000) for the usage of four fibres from Mmamashia to Letsibogo Dam for a period of 25 years, an amount received from other Licensed operators of P1,538,000 (2012: P1,538,000) for the use of mini links for a period of 10 years, and an amount received from other Licensed operators, Botswana Police of P257,000 (2012: P257,000) for the use

of Power sites for a period of 10 years and the Government of Botwana Ministry of Transport

and Communication for theTranskalahari National Backbone Network Upgrade project - Dense Waivelength Division Multiplexing (DWDM) P2,106,000 (2012: P2,106,000) for a period of 2years.

The ownership of the equipment utilised to provide these services vests with the Company. The deferred revenue is recognised in income over the useful life of the plant and equipment.

18 TRADE AND OTHER PAYABLES

Trade payables 77,829 84,570

Accrued expenses 2,468 1,725

Interconnection balances 24,552 21,932

Other payables 113,943 66,790

Current portion of deferred revenue - Note 17 27,368 18,111

246,160 193,128

Trade payables and accrued expenses are non interest bearing and are normally settled on 30-60 day terms and are not secured.

Other payables are non-interest bearing and have an average settlement date of three months and are not secured.

Traffic administration balances relates to terminating charges owing on BTC outgoing calls to international operators and for the

mobile networks. These are settled on a 30-90 day term and are not secured.

BOTSWANA TELECOMMUNICATIONS CORPORATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)