Reply SpA

Statutory financial statements at December 31, 2010
Note 24 - Current financial assets
This item amounted to 36,182,079 Euros (Euros 37.699.565 Euros at December 31, 2009) and is related to the
cash pooling accounts of the subsidiary companies involved in the centralized pooling system with pool leader Reply
S.p.A. The interest yield on these accounts is in line with current market conditions.
Note 25 - Cash and cash equivalents
This item amounted to 24,687,731 Euros, with an increase of 13,929,463 Euros compared to December 31, 2009
and is referred to cash at banks and on hand at year-end.
Note 26 - Shareholders’ equity
Share capital
As at December 31, 2010 il the fully subscribed paid-in share capital of Reply S.p.A., amounted to 4,795,886 Euros
and is made up of no 9,222,857 ordinary shares, par value 0.52 Euros per share.
Treasury shares
Treasury shares on hand amounting to 2.522.596 Euros is related to shares held by Reply S.p.A., that as at December
31, 2010 were equal in number to 178,526. During 2010 Reply S.p.A. acquired no. 123,674 ordinary share
while 76,650 ordinary share were disposed.
The disposals refer to:
no . 46.046 ordinary shares related to the transfer of shares for the acquisition of the minority shares in subsidiaries
no. 30.604 ordinary shares were assigned to personnel as a form of remuneration for services provided.
The accounting effects of these operations were entirely recorded in equity.
Capital reserve
At December 31, 2010 capital reserve amounted to 49,708,418 Euros and is summarized as follows:
Share premium reserve amounted to 20,165,019 Euros.
Reserve for treasury shares on hand amounting to 2,522,596 Euros is related to shares held by Reply, which at December
31, 2010 amounted to no. 178,526.
Reserve for purchase of treasury shares, amounting to 27,477,404 Euros, was constituted through withdrawal from
the Reserve for treasury shares on hand, following the resolution made by the General Shareholders Meeting of Reply
S.p.A. on 29 April 2009 which authorized, pursuant to art. 2357 of the Italian Civil Code, the purchase of a maximum
of 30 million Euros of ordinary shares, corresponding to 10% of the share capital, in a lump sum solution or in
several solutions within 18 months of the resolution.
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