Pallet-Management-Services - AFM

ordinary shares of IFCO SYSTEMS N.V. started on January 9, 2006 and ended on February 7,
2006.
The warrant exchange resulted in an issuance of 8,121,517 ordinary shares of IFCO SYSTEMS
N.V..
Earnings per share
The following reflects the income and share data used in the basic and diluted earnings per
share computations:
EUR in thousands As of December 31,
2006 2005
Net loss attributable to ordinary equity holders (9,525) (15,356)
As of December 31,
2006 2005
Weighted average number of ordinary shares for basic earnings per share
53,198,989 45,508,810
Effect of dilution:
Stock options 949,911 1,230,623
Warrant shares
Weighted average number of ordinary shares adjusted for the effect of dilution
_ 8,121,517
54,148,900 54,860,950
The potential issuance of new shares resulting from the exercise of stock options and in prior
year the exchange of warrants are considered in the above calculation of dilutive shares.
There have been no other transactions involving ordinary shares or potential ordinary shares
between the reporting date and the authorization date of our consolidated financial statements.
5. Debt
Senior Secured Notes
On October 10, 2003, the Company issued 10 3/8% Guaranteed Senior Secured Notes in the
principal amount of EUR 110.0 million in a private placement. The Senior Secured Notes mature
on October 15, 2010, and are senior secured obligations of IFCO SYSTEMS ranking equally
with other existing or future senior secured indebtedness in right of payment. Interest at the rate
of 10 3/8% per year from the date of issuance is payable semi annually in arrears on each June
30 and December 31. No principal payments are due under the Senior Secured Notes until
maturity on October 15, 2010. The Senior Secured Notes are secured by a first priority lien on
substantially all of the Company’s and all direct and indirect subsidiaries’ assets, except the
assets of IFCO SYSTEMS GmbH and its subsidiaries. The Senior Secured Notes are
guaranteed by most of the Company’s direct and indirect subsidiaries. All of the subsidiary
guarantees of the Senior Secured Notes (other than that of IFCO SYSTEMS GmbH, the
guarantee of which is unsecured) are secured by substantially all of the assets of such
subsidiary guarantors, including pledges of the stock of most of the Company’s subsidiaries.
The Senior Secured Notes became redeemable on October 15, 2006 with a redemption price
equal to the principal amount thereof plus accrued and unpaid interest and a redemption
premium (initially 110.4%) and certain additional amounts. The redemption price will decline to
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