2009 - Jaarverslag

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS15 EARNINGS PER SHAREThe Group presents ordinary and diluted earnings per share for the ordinary share capital. The net income perordinary share is calculated on the basis of the net result attributable to shareholders divided by the weightedaverage number of ordinary shares in issue during the reporting period. In the calculation of the diluted earnings,the weighted average number of ordinary shares in issue during the reporting period is corrected to take accountof the potential dilutive effect on the ordinary shares arising from the share options granted to employees.16 NEW STANDARDS AND INTERPRETATIONS NOT YET APPLIEDA number of new standards, amendments to standards and interpretations were not in force in 2009 and havetherefore not been applied to these consolidated financial statements:◾ IFRS 3 Business Combinations will be applied prospectively to the consolidated financial statements from2010 and therefore has no impact on prior periods.◾ The revised IFRS 3 Business Combinations (2008) includes the following amendments, which willprobably be relevant to the Group’s activities:◽ the definition of business has been extended; it can therefore be expected that a larger number ofacquisitions will be treated as business combinations;◽ conditional remuneration is valued at fair value; changes after first-time inclusion are stated in thestatement of comprehensive income;◽ except in the case of share and debt issue costs, transaction costs are charged to the result in theperiod in which they are incurred;◽ any interest already held in the acquired party is valued at fair value; the profit or loss is stated in thestatement of comprehensive income;◽ the acquirer can elect, on a transaction-by-transaction basis, to value a minority interest either at fairvalue or at the minority interest’s share of the identifiable assets and liabilities of the acquiree.◾ The amended IAS 27 Consolidated and Separate Financial Statements (2008) states that changes in thegroup’s ownership interest in a subsidiary, where control is retained, must be stated as a share transaction.If the group ceases to have control of a subsidiary, any residual interest in the former subsidiary must bemeasured at fair value, with the resulting profit or loss being stated in the statement of comprehensiveincome. Application of the amendments to IAS 27 will be compulsory in respect of the Group’s consolidatedfinancial statements for 2010.The other new or amended standards are not expected to have any material impact on the Group’s consolidatedfinancial statements.96Royal Ten Cate Annual Report 2009