Navigation aid

DES - Online Annual Report 2008

My Annual Report

Store page
My Annual Report

Disclosures on the consolidated balance sheet – Equity and liabilities

11. Equity and reserves

Changes in equity are presented in the statement of changes in equity.

On 6 August 2007, Deutsche EuroShop AG implemented a capital increase from own funds with a subsequent two-for-one share split. The share capital is thus divided into 34,374,998 no-par value registered shares and amounts to 134,374,998 following the changeover.

The share capital amounts to €34,374,998 and is composed of €34,374,998 no-par value registered shares. The notional value of each share is €1.00.

According to section 5 of the Articles of Association, the Executive Board is authorised, with the approval of the Supervisory Board, to increase the Company’s share capital by up to a total of 117,187,499 on one or several occasions until 20 June 2012 by issuing up to 17,187,499 no-par value registered shares against cash or non-cash contributions.

The Executive Board is authorised, with the approval of the Supervisory Board, until 21 June 2011 to issue convertible bonds with a nominal value of up to a total of €150,000,000 and maturities of up to 7 years and to grant bond holders or creditors conversion rights to up to 7,500,000 new no-par value registered shares in the Company with a proportionate amount of share capital of up to €7,500,000 as detailed in the terms and conditions for convertible bonds to be published by the Executive Board, with the approval of the Supervisory Board.

As the parent company of the Group, Deutsche EuroShop AG has reported an unappropriated surplus of €36,094 thousand.The Executive Board and Supervisory Board will propose to distribute this amount as a dividend of €1.05 per share at the Annual General Meeting on 30 June 2009. The previous year’s unappropriated surplus was distributed in full to the shareholders.

The Retained earnings item essentially contains the remeasurement reserves and currency items recognised at the time of transition to IFRSs.

Continue reading: Bank loans and overdrafts

Back to: Cash and cash equivalents