IHB Shipping CO EAD Bulgaria 100.00 Indirect control Emona LTD Marshal Islands 100.00 Indirect control Karvuna LTD Marshal Islands 100.00 Indirect control Marciana LTD Marshal Islands 100.00 Indirect control Skitia LTD Marshal Islands 100.00 Indirect control Odria LTD Marshal Islands 100.00 Indirect control Tirista LTD Marshal Islands 100.00 Indirect control Rekolta 2011 Bulgaria 100.00 Subsidiary ЕАD Augusta LTD Marshal Islands 100.00 Indirect control Serdika LTD Marshal Islands 100.00 Indirect control Dunav Tours AD Bulgaria 48,44 Associate Odesos PBM Bulgaria 30% Associate АD Istrum Travel Cyprus 50% Associate Related parties transactions are carried out under fair market conditions. Transactions with shareholders with significant influence (not eliminated) March In BGN thousand 31 2012 2011 BULLS AD loan interest expenses 11 1 – Loans granted to Bulls AD 5,001 453 Loans repaid by Bulls AD 14 - Transactions with companies related with key management personnel (not eliminated) 31 March 2011 In BGN thousand 2012 Stadis AD loan interest expenses 52 186 – granted to Stadis AD 1,770 18,446 Loans repaid by Stadis AD - 15,040 Transactions with associates 31 March 2011 2012 In BGN thousand Dunav Tours AD interest income 6 58 –loan Liquidation proceeds from Ship Design AD in liquidation 26 – Dividend income by Odesos PBM AD 99 Loans granted to Dunav Tours AD 561 391 Loans repaid by Dunav Tours AD 86 2,347 Open balances with related parties as at the end of the reporting and previous period are as follows: Payables on loans granted with interest.
IHB Shipping CO EAD Bulgaria 100.00 Indirect control Emona LTD Marshal Islands 100.00 Indirect control Karvuna LTD Marshal Islands 100.00 Indirect control Marciana LTD Marshal Islands 100.00 Indirect control Skitia LTD Marshal Islands 100.00 Indirect control Odria LTD Marshal Islands 100.00 Indirect control Tirista LTD Marshal Islands 100.00 Indirect control Rekolta 2011 ЕАD Bulgaria 100.00 Subsidiary Augusta LTD Marshal Islands 100.00 Indirect control Serdika LTD Marshal Islands 100.00 Indirect control Dunav Tours AD Bulgaria 48,44 Associate Odesos PBM АD Bulgaria 30% Associate Istrum Travel Cyprus 50% Associate Related parties transactions are carried out under fair market conditions. Transactions with shareholders with significant influence (not eliminated) In BGN thousand 31 March 2012 2011 BULLS AD – loan interest expenses 11 1 Loans granted to Bulls AD 5,001 453 Loans repaid by Bulls AD 14 - Transactions with companies related with key management personnel (not eliminated) In BGN thousand 31 March 2012 2011 Stadis AD – loan interest expenses 52 186 granted to Stadis AD 1,770 18,446 Loans repaid by Stadis AD - 15,040 Transactions with associates 31 March 2012 2011 In BGN thousand Dunav Tours AD –loan interest income 6 58 Liquidation proceeds from Ship Design AD – in liquidation 26 Dividend income by Odesos PBM AD 99 Loans granted to Dunav Tours AD 561 391 Loans repaid by Dunav Tours AD 86 2,347 Open balances with related parties as at the end of the reporting and previous period are as follows: Payables on loans granted with interest.
1Q21012_FS_consolidated_eng.docx