ANNUAL REPORT 2008/09 - Sonova

3.6 Summary of changes in shareholders’ equity
1,000 CHF
128 FINANCIAL STATEMENTS OF SONOVA HOLDING AG
Share
capital
General
legal
reserve
Free
reserve
Treasury
share
reserve
Retained
earnings
Total shareholders’
equity
Balance April 1, 2008 3,373 107,859 98,000 130,931 221,485 561,648
Dividend paid (65,812) (65,812)
Capital increases (incl. share premium)
from conditional capital 9 7,313 7,322
Capital decrease (70) (142,787) (142,857)
Increase in reserve for treasury shares (33,544) 86,391 (52,847)
Release of free reserves (98,000) 98,000
Net profi t for the year 228,731 228,731
Balance March 31, 2009 3,312 81,628 0 74,535 429,557 589,032
During the fi nancial year 2008/09, an additional 174,078 registered shares with a par value of CHF 0.05
each, or a total par value of CHF 8,704 were issued from the conditional capital (which was created
for the purpose of an equity participation for key employees of the Sonova Group) for a total net consideration
of CHF 6,733,922. In the fi nancial year 2008/09, the conditional share capital with a par value of
CHF 357,871 (7,157,414 shares) decreased by CHF 8,704 or 174,078 shares (previous year CHF 16,318 or
326,362 shares), thereby leaving CHF 349,167 (6,983,336 shares) for distribution. Based on the remaining
conditional capital, a total of 2,437,299 (previous year 2,007,162) employee stock options were
outstanding as of March 31, 2009, which can be exercised until February 2020 .
The treasury share reserve diff ers to the treasury shares in the consolidated fi nancial statements due to
Warrant Appreciation Rights (WARs). Derivative instruments such as WARs are not recorded in the fi nancial
statements of Sonova Holding AG (off balance sheet transaction).
4. Notes to the income statement
4.1 Investment income
This comprises dividends received from Group Companies and other investments.
4.2 Taxes
The tax expense consists of Swiss federal taxes on non-investment income (the company is exempt from
income taxes in the canton of Zurich).