=+vv6. Purchase of subsidiary undertaking During 2003, VOYAGE plc purchased CHRISTY Limited, acquiring the following net assets:

650 INTERNATIONAL FINANCIAL ACCOUNTING AND REPORTING

€'000 Property, plant and equipment 1,875 Inventory 456 Trade receivables 1,170 Cash at bank and in hand ; 42 Bank overdraft (73)

Trade payables (705)

Medium-term loans (967)

Deferred taxation (908) 890 Consideration was satisfied by:

Shares allotted 600 Cash . 4,400 5,000 The directors of VOYAGE plc are pleased with the positive effect CHRISTY Limited has had on turnover and operating profits.