16. Restricted cash
|
Year ended 31 December, |
|
(thousands of €) |
2014 |
2013 |
Non-current restricted cash |
306 |
3,306 |
Current restricted cash |
10,422 |
|
Total restricted cash |
10,728 |
3,306 |
Restricted cash of €3.3 million on 31 December 2013 was related to a €3 million bank guarantee issued in 2013 for the rental of the new premises in France which will expire on 30 June 2015, and €0.3 million rent deposit for premises in Mechelen, Belgium.
Restricted cash increased to €10.7 million for the year ended 31 December 2014. This increase is related to an escrow account containing part of the proceeds from the sale of the service division in 2014. The amounts on the escrow account will be released on 30 June 2015 if no claim is introduced by the buyer, Charles River Laboratories International, Inc. As at 31 December 2014, two claims have been introduced by Charles River Laboratories International, Inc and were fully accrued for on the balance sheet for a total amount of €0.1 million.