SMART PARKING LIMITED — Interim / Quarterly Report 2014

Jan 30, 2014

Manager of Company Announcements ASX Limited Level 8 Exchange Plaza 2 The Esplanade PERTH WA 6000

31 January 2014

By E-Lodgement

Appendix 4C

Smart Parking Ltd (ASX: SPZ) (Company) makes the following comments in relation to Appendix 4C for the quarter ended 31 December 2013.

• Net operating cash outflows for the quarter were $1.1m.
• Cash flows in any quarter may be affected by the timing of distributions of client cash which can be material. Receipts from Customers for the quarter include net inflows of cash held on behalf of clients of $0.7m.
• The company had operating cash outflows of $0.6m relating to the prior quarter.
• The company sold a property in the UK which settled for $1.2m.
• The company realised $2.3m through the sale of its shares previously held in trust pursuant to the exercise of remedies available to it under the documentation relating to the purchase of Town and City Parking Limited.
• The company incurred costs during the quarter related to the installation of sensors in Rotorua (NZ) and Waverley (Australia). The company expects to have cash inflows in Q3 of $0.6m related to those installations.

The company advises that it has commenced installation of 3,000 sensors as part of Phase 1 for Westminster City Council.

Yours faithfully

Jeremy King Company Secretary

The World's Smartest Parking Tools

Australia 177 Salmon Street Port Melbourne Victoria 3207 Australia

New Zealand 2 Oliver Street PO Box 939 Cambridge 3450 New Zealand Tel: +64 7823 2090 Fax: +64 7823 2094

www.smartparking.com

info@smartparking.com

ASX: SPZ

Rule 4.7B

Appendix 4C

Quarterly report for entities admitted on the basis of commitments

Name of entity Smart Parking Limited

ABN Quarter ended ("current quarter")

45 119 327 169 31 December 2013

Consolidated statement of cash flows

		Current quarter	Year to date
Cash flows related to operating activities		$A'000	$A'000
1.1(a)	Receipts from customers	4,884	10,483
1.1(b)	Movement in Client cash balances	707	2,950
1.2	Payments for (a) staff costs	(2,850)	(5,488)
	(b) advertising and marketing	(152)	(152)
	(c) support and development	(5)	(15)
	(d) inventory	(247)	(301)
	(e) other working capital	(3,363)	(5,941)
	(f) costs of acquisition	-	-
	(g) restructuring costs	(47)	(47)
	(h) partial settlement of legacy tax	-	(1,129)
1.3	Dividends received	-	-
1.4	Interest and other items of a similar nature	7	40
received
1.5	Interest and other costs of finance paid	(27)	(47)
1.6	Income taxes paid	-	-
1.7Other income		-	-
	Net operating cash flows	(1,093)	353

		Current quarter$A'000	Year to date$A'000
1.8	Net operating cash flows (carried forward)	(1,093)	353
	Cash flows related to investing activities
1.9	Payment for acquisition of:
	(a) businesses (item 5)	-	-
	(b) equity investments	-	-
	(c) intellectual property	-	-
	(d) physical non-current assets	(652)	(1,393)
	(e) other non-current assets	-	-
1.10	Proceeds from disposal of:
	(a) businesses (item 5)	-	-
	(b) equity investments	-	-
	(c) intellectual property	-	-
	(d) physical non-current assets	1,184	1,184
	(e) other non-current assets	146	146
1.11	Loans to other entities	-	-
1.12	Loans repayments made	-	-
1.13	Other (Other Income)	-	-
	Net investing cash flows	678	(63)
1.14	Total operating and investing cash flows	(415)	290
1.15	Cash flows related to financing activitiesProceeds from issue of shares	-	-
1.16	Proceeds from sale of forfeited shares	2,267	2,267
1.17	Proceeds from borrowings	-	1,000
1.18	Repayment of borrowings	(73)	(114)
1.19	Dividends paid	-	-
1.20	Other- exercise of options	-	-
	Net financing cash flows	2,194	3,153
	Net increase (decrease) in cash held	1,779	3,443
1.21	Cash at beginning of quarter/year to date	6,355	4,600
1.22	Exchange rate adjustments	102	193
1.23	Cash at end of quarter	8,236	8,236

* Cash at end of quarter includes cash of $5.0m that Smart Parking UK has collected on behalf of customers which is consistent with the treatment in the 2013 Annual Report.

Payments to directors of the entity and associates of the directors

Payments to related entities of the entity and associates of the related entities

		Current quarter$A'000
1.24	Aggregate amount of payments to the parties included in item 1.2	(121)
1.25	Aggregate amount of loans to the parties included in item 1.11	-
1.26	Explanation necessary for an understanding of the transactions
	Director Fees $40,000Share Registry Fees $10,224Company Secretarial Fees $15,000Bulk print and Mail $50,245Rent $5,574

Non-cash financing and investing activities

• 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
• 2.2 Details of outlays made by other entities to establish or increase their share in businesses in which the reporting entity has an interest

Financing facilities available

Add notes as necessary for an understanding of the position.

		Amount available$A'000	Amount used$A'000
3.1	Loan facilities **	4,382	1,594
3.2	Credit standby arrangements	-	-

** This relates to an overdraft facility for Smart Parking UK secured against deposits held in Australia and a $3m loan facility from entities associated with 2 Directors.

Reconciliation of cash

Reconciliation of cash at the end of the quarter (asshown in the consolidated statement of cash flows) tothe related items in the accounts is as follows.		Current quarter$A'000	Previous quarter$A'000
4.1	Cash on hand and at bank *	5,497	4,687
4.2	Deposits at call	3,333	1,668
4.3	Bank overdraft	(594)	-
4.4	Other	-	-
	Total: cash at end of quarter (item 1.23)	8,236	6,355

* Cash at bank includes cash of $5.0m that Smart Parking UK has collected on behalf of customers which is consistent with the treatment in the 2013 Annual Report.

Acquisitions and disposals of business entities

		Acquisitions(Item 1.9(a))	Disposals(Item 1.10(a))
5.1	Name of entity	-	-
5.2	Place of incorporationor registration	-	-
5.3	Consideration foracquisition or disposal	-	-
5.4	Total net assets	-	-
5.5	Nature of business	-	-

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act (except to the extent that information is not required because of note 2) or other standards acceptable to ASX.
• 2 This statement does give a true and fair view of the matters disclosed.

Sign here:

Print name: Jeremy King – Company Secretary Date: 31 January 2014

Notes

• 1. The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
• 1. The definitions in, and provisions of, AASB 107: Statement of Cash Flows apply to this report except for the paragraphs of the Standard set out below.
  • 6.2 reconciliation of cash flows arising from operating activities to operating profit or loss
  • 9.2 itemised disclosure relating to acquisitions
  • 9.4 itemised disclosure relating to disposals
  • 12.1(a) policy for classification of cash items
  • 12.3 disclosure of restrictions on use of cash
  • 13.1 comparative information
• 1. Accounting Standards. ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.