- Part 2: For the preceeding part double click [ID:nRSY6443Ha] 6 months to 31 December 2009 6 months to 31 December 2008 12 months to 30 June 2009 £m £m £m Non-current assets held for sale 16.9 16.6 34.8 Non-current liabilities held for sale (5.3) - (7.4) Seed capital classified as being held for sale 11.6 16.6 27.4 In the six months ended 31 December 2009, two funds in which the Group held seed capital investments at the start of the year ceased to be classified as non-current assets held for sale as they no longer met the conditions within IFRS 5 regarding such classifications. Investments cease to be classified as held for sale when they are no longer controlled by the Group or have been held for more than one year. A loss of control may happen either through sale of the investment and/or dilution of the Group's holding. When investments cease to be classified as held for sale they are reclassified to available-for-sale financial assets in accordance with IAS 39 (note 7). The effect of reclassifying the two funds to available-for-sale financial assets on the results of the Group is to increase profit before tax by £4.6 million in the six months ended 31 December 2009 (2008: nil). This is included in finance income (note 4). The Group's maximum exposure to credit, liquidity, interest rate, foreign exchange and price risk in respect of these assets and liabilities is represented by their carrying value. 9) Treasury shares In line with authorities granted at the AGM in October 2008 the Company purchased shares which are held in treasury. An analysis of treasury shares is as follows: Treasury shares held by Ashmore Group plc As at 31 December 2009 As at 31 December 2008 As at 30 June 2009 Cost of treasury shares: £m £m £m Ashmore Group plc ordinary shares 6.9 6.5 6.9 Number Number Number Ashmore Group plc ordinary shares 5,368,331 4,966,587 5,368,331 Reconciliation of treasury shares Number Number Number At beginning of year 5,368,331 - - Purchase of own shares - 4,966,587 5,368,331 At end of year 5,368,331 4,966,587 5,368,331 Market value of treasury shares: £m £m £m Ashmore Group plc 14.6 6.6 10.2 10) Group risks The Group's principal risks remain as detailed within the Business review and Corporate governance report in the Group's Annual Report and are categorised as strategic and business, investment, and operational. 11) Related party transactions There were no material changes to the related party transactions during the six months to 31 December 2009. 12) Post balance sheet events There are no post balance sheet events for the six months to 31 December 2009. Responsibility Statement of the Directors' in respect of the half-yearly financial report We confirm that to the best of our knowledge: # the condensed set of financial statements has been prepared in accordance with IAS 34 Interim Financial Reporting as adopted by the EU; # the interim management report includes a fair review of the information required by: (a) DTR 4.2.7R of the Disclosure and Transparency Rules, being an indication of important events that have occurred during the first six months of the financial year and their impact on the condensed set of financial statements ; and a description of the principal risks and uncertainties for the remaining six months of the year; and (b) DTR 4.2.8R of the Disclosure and Transparency Rules, being related party transactions that have taken place in the first six months of the current financial year and that have materially affected the financial position or performance of the entity during that period; and any changes in the related party transactions described in the last annual report that could do so Mark Coombs Chief Executive Officer 25 February 2010 Independent Review Report to Ashmore Group plc Introduction We have been engaged by the company to review the condensed set of financial statements in the half-yearly financial report for the six months ended 31 December 2009 which comprises the consolidated statement of comprehensive income, consolidated balance sheet, consolidated statement of changes in equity, consolidated cash flow statement and the related explanatory notes. We have read the other information contained in the half-yearly financial report and considered whether it contains any apparent misstatements or material inconsistencies with the information in the condensed set of financial statements. This report is made solely to the company in accordance with the terms of our engagement to assist the company in meeting the requirements of the Disclosure and Transparency Rules ("the DTR") of the UK's Financial Services Authority ("the UK FSA"). Our review has been undertaken so that we might state to the company those matters we are required to state to it in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company for our review work, for this report, or for the conclusions we have reached. Directors' responsibilities The half-yearly financial report is the responsibility of, and has been approved by, the directors. The directors are responsible for preparing the half-yearly financial report in accordance with the DTR of the UK FSA. The annual financial statements of the group are prepared in accordance with IFRSs as adopted by the EU. The condensed set of financial statements included in this half-yearly financial report has been prepared in accordance with IAS 34 Interim Financial Reporting as adopted by the EU. Our responsibility Our responsibility is to express to the company a conclusion on the condensed set of financial statements in the half-yearly financial report based on our review. Scope of review We conducted our review in accordance with International Standard on Review Engagements (UK and Ireland) 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity issued by the Auditing Practices Board for use in the UK. A review of interim financial information consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing (UK and Ireland) and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the condensed set of financial statements in the half-yearly financial report for the six months ended 31 December 2009 is not prepared, in all material respects, in accordance with IAS 34 as adopted by the EU and the DTR of the UK FSA. Paul Furneaux for and on behalf of KPMG Audit Plc Chartered Accountants One Canada Square London E14 5AG 25 February 2010 This information is provided by RNS The company news service from the London Stock Exchange