6 - Vicat

10CASH FLOWAND EQUITY10.1. EQUITY 8310.2. CASH FLOWS 8410.2.1. Net cash flows generated by operatingactivities 8410.2.2. Net cash flows related to investmentoperations 8510.2.3. Net cash flows relating to financing activities 8610.3. Indebtedness 8610.3.1. Group financial policy 8610.3.2. Gross indebtedness 8910.3.3. Cash surpluses 9010.3.4. Net indebtedness 9010.1. EQUITYAt the date of registration of this RegistrationDocument, the Company’s share capital was€ 179,600,000, divided into 44,900,000 shares, eachwith a nominal value of € 4, fully subscribed and paidup.Consolidated shareholders’ equity was € 2082 millionas at December 31, 2009 including a Group share of€ 1882 million and minority interests of € 199 million,which relate mainly to the cement manufacturingsubsidiaries in Turkey, in Egypt and in Kazakhstan.Shareholders’ equity – Group share – includes as atDecember 31, 2009 :• the Company’s share capital of € 180 million ;• premia linked to the capital of € 11 million ;• conversion reserves of -€ 93 million ;• consolidated reserves amounting to € 1593 millioneuros, net of treasury shares for € 90 million ;• the result—Group share—for 2009, of € 191 million.10.4. ANALYSIS OF CERTAIN OFF-BALANCESHEET LIABILITIES 91For a detailed description of shareholders’ equityin the Company, please refer to the statement ofchanges in consolidated shareholders equity and toNote 13 to the consolidated financial statements inSection 20.2.2. “Notes to the 2009 consolidated financialstatements” of this Registration Document.2009 registration document - VICAT 83