Download the 2009 annual report in PDF format - ANF

Note 8 Change in shareholder’s equity
The change in shareholder’s equity over the period is shown below:
(€ thousands)
Capital
stock
Other
paid-in
capital
Legal
reserve
Regulatory
reserves
Other
reserves
Retained
earnings
ANNUAL FINANCIAL STATEMENTS
Net
income
Notes to the fi nancial statements
Investment
grants Total
Brought forward 24,957 320,799 1,664 321,861 0 3,733 5,592 1,595 680,200
Capital increase 59 - - (59) - - - - -
Allocation of income 1,055 3,101 810 (2,145) - (3,586) (5,592) - (6,357)
Grants - - - - - - - 414 414
Net income for the year - - - - - - 16,000 - 16,000
TOTAL 26,071 323,900 2,473 319,657 - 146 16,000 2,010 690,258
The Shareholders’ Meeting of May 28, 2009 approved the payment
of a dividend of €1.3 per share, with the option of a stock dividend.
80.32% of shareholders opted for the stock dividend.
Note 9 Contingency and loss provisions
As of December 31, 2009, the Company held 109,835 treasury
shares acquired at an average of €38.79, representing a total of
€4.3 million.
At an average stock price of €31.04 during the fi nal trading month
of the fi scal year the value of these treasury shares was €3.4 million.
Amount as of
Amount as of
(€ thousands)
12/31/2008 Increase Decrease 12/31/2009
Provision for long-service awards 48 - - 48
Provision for pensions 10 - - 10
Other contingency provisions 43 - - 43
TOTAL 102 - - 102
Reversals of provisions relate to provisions used or that no longer
serve any purpose.
The contingency provision is for the risk of non-recovery of a
property tax refund following the sale of a property.
The most signifi cant ongoing disputes are as follows:
1) Chief Operating Offi cer and Real Estate Director:
Legal action is currently underway following the removal and
dismissal in April 2006 of ANF’s Chief Operating Offi cer and Real
Estate Director:
• the dismissed employees have fi led claims with the Paris
Employment Tribunal for €4.6 million in the case of the former
Chief Operating Offi cer (€3.4 million vis-à-vis ANF and €1.2 million
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vis-à-vis Eurazeo) and €1 million in the case of the former Real
Estate Director;
• similarly, a commercial suit against ANF has been lodged with the
Paris Commercial Court by the former Chief Operating Offi cer as
former offi cer;
• a suit has also been lodged with the same court by a former
supplier.
Prior to the bringing of these employment and commercial suits,
ANF had, in parallel with criminal proceedings, brought a civil action
for damages before the Marseilles examining magistrate regarding
alleged acts committed by the aforementioned former supplier and
by its two former Offi cers and others.
ANF • 2009 ANNUAL REPORT
165
OTHER GENERAL GENERAL INFORMATION PRO FORMA FINANCIAL INFORMATION ANNUAL FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL FINANCIAL STATEMENTS INFORMATION ABOUT ANF DESCRIPTION OF THE BUSINESS