Annual Report 2008 Sustainable design & engineering - Grontmij

Notes to the company financial statements
Share capital
On 10 May 2007, the Annual General Meeting of Shareholders of Grontmij decided to split the shares in the proportion of 1:4. The relating
amendment of the Articles of Association necessary took place on 1 June 2007.
As a consequence of this split, the share with a nominal value of € 1 was split into four shares with a nominal value of € 0.25.
The authorised share capital of 60 million shares is divided into 30 million ordinary shares each with a nominal value of € 0.25, and 30 million
preference shares each with a nominal value of € 0.25.
The number of ordinary shares issued and fully paid-up as at 31 December 2008 was 17,764,920 (31 December 2007: 17,764,920).
Grontmij did not purchase any own shares. No preference shares were issued.
The Executive Board proposes to make a dividend payable out of the unappropriated profit for 2008 in the amount of € 1.15 (2007: € 1.10) per
(depositary receipt of a) share issued.
Share premium
The share premium is comprised of capital contributions from shareholders above nominal value, and is regarded as paid up capital.
Share premium is tax-free distributable.
Legal reserve
The legal reserve relates to the retained profits from equity accounted investees to the extent that the Group is not able to manage the
distribution thereof independently.
Translation reserve
This reserve comprises of currency translation differences relating to the translation of the financial statements of Group entities having a
functional currency other than the euro. This reserve qualifies as a legal reserve under Dutch law.
Hedging reserve
The hedging reserve comprises the effective portion of the cumulative net change in the fair value of cash flow hedging instruments related to
hedged transactions that have not yet occurred.
Other reserves
The reserve contains retained earnings of previous years and also includes changes in the legal reserve relating to retained earnings of equity
accounted investees.
Other movements in 2008 include the changes in fair value of available-for-sale financial assets during the year under review.
6. Loans and borrowings
This item concerns a straight-line redeemable subordinated loan, the balance of which by year-end 2008 is € 1,500,000 (2007: € 4,500,000).
The residual maturity is less than one year. The rate of interest is fixed at 7.875%. The factored repayment of the principal amount has been
subordinated to all other claims of existing and future creditors.
7. Related parties
A summary of Grontmij´s related parties is provided in note 33 to the consolidated financial statements.
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