2010 annual report - touax group

Annual report 2010
note 20. Other current assets
(€ thousands) 2010 2009 2008
Sale of fixed assets 55 10 10
Prepaid expenses 3,248 3,245 3,318
Taxes and duties 10,105 7,902 9,806
Others 5,503 5,810 4,358
TOTAL 18,911 16,967 17,492
Taxes and Duties mainly consist of input VAT paid on acquisitions
of goods at the end of period.
As of December 31, 2010, the “Others” category includes receivables
concerning pending insurance reimbursements in the
River Barges division amounting to around €0.5 million and
€0.7 million in the Modular Buildings division and €1.6 million
in payments received from customers pending refund to investors
in the Shipping Containers division. Moreover, this category
also recorded the share of financial receivables from lease
financing due in less than one year (i.e. €1.9 million as of
December, 31 2010. See the appendix to the consolidated financial
statements, note 1.18.1). On December 31, 2009, in the
“Other” item, the share of pending reimbursements for incurred
losses in the River Barges business amounted to €1.8 million.
Other current assets are all recoverable within one year.
note 21. Shareholders’ Equity
Details of shareholders’ equity are given in the appendix of
changes in shareholders’ equity.
It may be noted here that:
• In January 2010, TOUAX SCA paid an interim dividend of €2.8
million.
• TOUAX recorded the buy-back of 69 573 share subscription
warrants for €162,000 and the buy-back of 177,500 share
subscription warrants for €213,000.
• 2,444 redeemable warrants (BSARs) were exercised in 2010,
leading to the issue of 625 new shares. As of December 31,
2010, 1,399,200 of the 1,427,328 redeemable warrants issued
in 2007 remained to be exercised, for a potential of 363,092
shares (4 redeemable warrants for 1,034 shares).
• 7,200 subscription options were exercised in 2010, leading to
the issue of 7,200 new shares. The share subscription options
or purchase options granted by TOUAX SCA are detailed in the
table below:
Share subscription or purchase options granted by TOUAX SCA:
2002 Stock 2006 Stock
Option Plan
Option Plan
Date of General Meeting 06.24.02 06.28.2006
Date of Board of Directors meeting 07.31.02 08.07.2006
Nombre d’options consenties à l’origine 11,001 52,874
– of which to members of the Executive Committee 2,500 15,770
Number of current beneficiaries 13 9
– of which, members of the current Executive Committee 2 2
Date of allotment 07.31.02 08.07.06
Exercise date 07.30.06 08.07.08
Expiration date 07.31.10 08.07.12
Exercise price 13.59 € 20.34 €
Options exercised since allotment 9,900
– by members of the Executive Committee 2,500
Number of members of the Executive Committee who exercised options in 2009 1
Options null and void since allotment 1,101 6,957
Number of outstanding options at 31/12/2010 45,917
– of which held by members of the current Executive Committee 15,770
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