Eleco PLC Half Yearly Report -6-

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 Satisfied 
  by: 
 Cash                                                     46 
 Deferred purchase 
  consideration                                           37 
                                                          83 
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Goodwill recognised above contains certain intangible assets that cannot be individually, separately and reliably measured from the acquiree due to their nature. These items include the value of the management and workforce together with synergies that are expected to be gained from being part of the Group.

10. Related Party Disclosures

Transactions between Group undertakings, which are related parties, have been eliminated on consolidation and are not disclosed in this note.

With the exception of M L Turner, the Directors of the Company had no material transactions with the Company during the six months to 30 June 2012, other than a result of service agreements. An amount of GBP73,000 (2011: GBP51,000) was paid to Shoremountain Ltd of which M L Turner is a director. This was paid under the terms of a consultancy arrangement by the Group.

An amount of GBP12,500 (2011: GBP13,000) was paid to JHB Ketteley &Co Limited under a lease for occupation by the Group of 66 Clifton Street, London, EC2A 4HB.

11. Post balance sheet events

On 21 September 2012, Eleco plc discharged its obligation arising under Sections 75 and 75A of the Pensions Act 1995 by the payment of GBP595,000 to the Scheme and the Board has been advised that accordingly, by law, Eleco plc is no longer a Statutory Employer of the Scheme under Section 75 and 75A of the Pensions Act 1995 and Part 3 of the of the Pensions Act 2004.

This information is provided by RNS

The company news service from the London Stock Exchange

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