SEC Form 17-A: Annual Report - the solid group inc website

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24. EQUITY
24.1 Capital Stock
The Group has a total authorized capital stock of P5.0 billion divided into 5,000,000,000
shares with P1 par value.
On June 18, 1996, the SEC issued an Order approving the Registration Statement covering
the securities which comprised the Parent Company’s entire authorized capital stock. On
September 4, 1996, the Parent Company’s shares were listed in the PSE and the trading of
offer shares commenced. The Parent Company offered to the public 665,000,000 shares at
an offer price of P5.85 per share. The offer shares are composed of 524,475,000 primary
shares (new shares) and 140,525,000 secondary shares (existing shares).
As of December 31, 2012, the Company has issued shares of 2,030,975,000 (with P1 par
value), of which, 392,472,704 shares are held by the public. There are 4,482 holders of the
listed shares which closed at P1.98 per share on December 31, 2012.
24.2 Retained Earnings
On October 12, 2012, the BOD approved the declaration of cash dividends of P0.06 per
share or totaling to P109.3 million, payable to stockholders of record as of
October 31, 2012. The cash dividends were paid on November 28, 2012.
Retained earnings is restricted in the amount of P115.6 million in 2012 and 2011, equivalent
to the 209,433,000 shares held in treasury.
24.3 Revaluation Reserves
The components of this account and its movements are as follows:
Notes 2012 2011 2010
Cumulative translation adjustments:
Balance at beginning of year P 77,477,390 P 64,979,425 P 70,778,455
Currency differences on
translating financial
statements of foreign
operations 2 ( 28,103,335) 12,497,965 ( 5,799,030 )
49,374,055 77,477,390 64,979,425
Fair value losses on AFS
financial assets:
Balance at beginning of year ( 106,719,760) ( 108,459,976) ( 172,432,191 )
Reclassification adjustments for
losses recognized in
profit or loss 12,145,053 12,804,822 49,498,034
Fair value gains (losses) – net 9 ( 853,830) ( 9,606,606) 15,584,181
Deferred tax income on
changes in fair value of
AFS financial assets 23.2 ( 300,000) ( 1,458,000) ( 1,110,000 )
( 95,728,537) ( 106,719,760) ( 108,459,976 )
Other comprehensive income
attributable to
non-controlling interest 35,000 - -
Balance at end of the year (P 46,319,482) (P 29,242,370 ) (P 43,480,551 )