Annual Report 1997/1998 - Munich Re

Munich Reinsurance Company Notes on the accounts
(5) Deferred items 30.6.1998 Previous year
TDM TDM
Accrued interest and rent 171,927 258,963
Other deferred items 38,751 25,457
Total 210,678 284,420
This item includes differences totalling TDM 551 (251) arising from
the posting of loans in the balance sheet at nominal values.
Notes on the balance sheet – liabilities
(6) Shareholders’ funds In the year under review the company’s share capital was increased
from TDM 814,752 to TDM 834,598 through the exercise of warrants
issued in 1994, utilizing part of the contingent capital as per Article 3 a
of the Articles of Association.
At the balance sheet date the increased share capital comprised
3,000,000 bearer shares with a par value of DM 5 each and 81,959,840
(previously 79,975,200) registered shares with a par value of DM 10
each, DM 5 being paid up and entitled to dividend and one vote.
113
Amount
Number Par value paid up Votes
TDM TDM
Bearer 3,000,000 15,000 15,000 3,000,000
Registered 81,959,840 819,598 409,799 81,959,840
Total 834,598 424,799 84,959,840
By resolution of the AGM on 8th December 1995 the Board of
Management was authorized to increase the company’s share capital
by a nominal amount of up to TDM 250,000 in one or more stages at
any time up to 8th December 2000 by issuing new shares against cash
contribution.
The contingent capital of TDM 30,000 created by resolution of the
Annual General Meeting on 3rd December 1993 has been reduced to
TDM 8,752 as a result of its utilization through the exercise of the
warrants issued in 1994. TDM 8,750 of this serves to safeguard the
warrants issued in 1998.
TDM 150,000 of the profit for the year 1997/98 has been transferred
to the revenue reserves.