REGISTRATION DOCUMENT - Bourbon

5NotesCOMPANY FINANCIAL STATEMENTSto the annual financial statementsFollowing the decision taken by the Extraordinary General Meeting onJune 3, 2009, the capital stock was increased by €3,522,922, from€35,229,221 to €38,752,143, through the capitalization of a portionof the “issue premiums” item. This capital increase was completedby the issuance of 5,546,130 new shares allotted to shareholders inthe ratio of one new share for ten existing shares.The raising of options exercised in 2009 resulted in the issuanceof 102,970 shares and a capital increase of €65,407. The excesssubscription price over the par value was recognized as a sharepremium in the amount of €1,728,930.On November 2, 2009, the issuance of bonus shares to benefi ciaryemployees meeting the criteria used by the Board of Directors ofAugust 27, 2007 led to a capital increase of €48,799 through thecapitalization of a portion of the “issue premiums” item. This capitalincrease was completed by the issuance of 76,824 new shares.The raising of options exercised in 2010 resulted in the issuanceof 343,856 shares and a capital increase of €218,417. The excesssubscription price over the par value was recognized as a sharepremium in the amount of €7,255,299.Following the decision taken by the Extraordinary General Meeting onJune 1, 2011, the capital stock was increased by €3,910,110, from€39,101,110 to €43,011,221, through the capitalization of a portionof the “issue premiums” item. This capital increase was completedby the issuance of 6,155,681 new shares allotted to shareholders inthe ratio of one new share for ten existing shares.The raising of options exercised in 2011 resulted in the issuanceof 47,025 shares and a capital increase of €29,870. The excesssubscription price over the par value was recognized as a sharepremium in the amount of €1,051,361.On November 2, 2011, the issuance of bonus shares to benefi ciaryemployees meeting the criteria used by the Board of Directors ofAugust 27, 2007 led to a capital increase of €29,400 through thecapitalization of a portion of the “issue premiums” item. This capitalincrease was completed by the issuance of 46,284 new shares.Number of securitiesIssued during the Reimbursed duringClass of securitiesAt year-endyearthe yearOrdinary shares 67,781,535 6,248,990 -3 NUMBER OF VOTING RIGHTS AT DECEMBER 31, 2011:Number of shares outstanding 67,781,535Of which number of treasury shares with no voting rights 2,710,946Number of shares with voting rights 65,070,5892.2 Changes in equity(in € thousands)CapitalstockSharepremiumsReservesand retainedearningsProfit (loss)for the yearBalance at December 31, 2010before appropriation of earnings 39,086 55,471 521,673 127,278 743,508Capital increase 3,969 (2,889) 1,080Appropriation of 2009 earnings 127,278 (127,278) -Dividends paid (53,170) (53,170)Profi t (loss) for the period 98,315 98,315Other changesBALANCE AT DECEMBER 31, 2011BEFORE APPROPRIATION OF EARNINGS 43,055 52,582 595,781 98,315 789,733Total130BOURBON - 2011 Registration Document