ITF

for the year ended 31 December 2019 Note 2019 2018 $000 $000 Cash flows from operating activities Surplus / (deficit) for the year before taxation 6,617 (5,380) Adjustments for: Depreciation and amortisation 23, 24, 26 2,561 1,351 (Increase) / decrease in value of investments (7,745) 3,211 Gain on sale of investments 20 (416) (1,330) Financial income 20, 21 (481) (537) Finance costs 65 - Foreign exchange (gain) / loss (630) 228 (29) (2,457) (Increase) / decrease in trade and other receivables (11,745) 3,877 Increase in restricted cash (25,219) - Decrease in inventories 190 75 Increase in trade and other payables 3,079 1,447 (Decrease) / increase in deferred income (18,957) 7,546 Increase in long-term security deposit 25,219 - (27,462) 10,488 Interest received 150 - Tax paid (728) (110) Net cash from operating activities (28,040) 10,378 Cash flows from investing activities Proceeds from sale of investments 11,515 21,335 Interest and dividends received 20, 21 331 537 Acquisition of intangible assets 23 (2,531) (1,879) Acquisition of property, plant and equipment 24 (331) (668) Disposal of short term investments (Olympics) 6,000 6,000 Acquisition of investments (7,335) (31,423) Net cash from investing activities 7,649 (6,098) Cash flows from financing activities Principal elements of lease payments 43 (714) - Net cash from financing activities (714) - Net (decrease) / increase in cash and cash equivalents (21,105) 4,280 Cash and cash equivalents at 1 January 28,818 24,726 Effects of exchange rate fluctuations on cash held 663 (188) Cash and cash equivalents at 31 December 8,376 28,818 Being: Cash and cash equivalents per the balance sheet 5,543 28,749 Other short term deposits 29 2,833 69 Cash and cash equivalents at 31 December 8,376 28,818 The notes on pages 14 to 33 are an integral part of these consolidated financial statements. CONSOLIDATED CASH FLOW STATEMENT 13

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