PDF (7.3 MB) - GILDEMEISTER Interim Report 3rd Quarter 2012

172Consolidated Financial Statements of gildemeister Aktiengesellschaft: Notes to the Consolidated Financial StatementsTax loss carry forwards not taken into account expire in an amount of € 3,012 k in 2014.Non-Deferred taxes are calculated on the basis of income tax rates that at the time of realisationapply or are expected in the individual countries in accordance with the legal statusat the time. Taking into account trade earnings tax and the solidarity surcharge, thisresults in a tax rate of 28.8% (previous year: 28.8%) for domestic companies. Internationaltax rates are between 18% and 41%.Income tax on other comprehensive income in an amount of € –413 k (previous year:€ 627 k) relate – as in the previous year – exclusively to changes in fair value of derivativefinancial instruments included in other earnings.28 equityThe movement of individual components in group equity for the financial years 2010 and2009 is illustrated in the Development of Group Equity on page 127 et seq. Businesstransactions are presented under “Transactions with owners” in which the owners haveacted in their capacity as owners.consolidated financialstatementsSubscribed capitalThe share capital of gildemeister Aktiengesellschaft amounts to € 118,513,207.80 andis fully paid up.The share capital is unchanged and divided into 45,582,003 bearer shares with anaccounting par value of € 2.60 per share.The following statements have essentially been taken from the articles of associationof gildemeister Aktiengesellschaft (version as of May 2010).The Executive Board is authorised, with the approval of the Supervisory Board, toincrease the share capital by up to € 59,256,600.00 in nominal terms during the perioduntil 13 May 2015 by issuing up to 22,791,000 new no-par value bearer shares for contributionsin cash and / or in kind (authorised capital). This authority can be exercised onone occasion or, in partial amounts, on more occasions.The shares may be taken over by one or more banks designated by the ExecutiveBoard, with the obligation to offer them to the shareholders for subscription (directsubscription right).The Executive Board is authorised to issue shares to company employees andbusiness persons affiliated with the company with respect to a partial amount of€ 5,000,000.00. In this respect the shareholders’ statutory subscription rights areexcluded with the approval of the Supervisory Board.In addition, the Executive Board is authorised, with the approval of the SupervisoryBoard, to exclude the shareholders' statutory rights in the case of:a) a non-cash capital increase through non-cash capital contribution so as to acquire,in applicable cases, companies, parts of companies or equity interests in companiesor other assets in return for the transfer of shares,b) to the extent required for dilution protection purposes, in order to grant the holdersof warrants or the creditors of convertible bonds issued by the company or its associatedcompanies as part of an authorisation of the Board by the general meeting of