from a single source. Conergy AG Annual ... - Alle jaarverslagen

112Conergy AG I Annual Report 201015. Earnings per share2010 2009Result from continuing operations applicable to shareholders of Conergy AG EUR million – 41.8 – 80.5Result applicable to shareholders of Conergy AG in EUR million – 44.7 – 79.9Adjustment of results for finance costs for diluting instruments EUR million – –Adjusted result from continuing operations EUR million – 41.8 – 80.5Adjusted result applicable to shareholders of Conergy AG EUR million – 44.7 – 79.9Weighted average number of shares issued Shares 398,088,928 398,088,928Potential effect of diluting instruments (number) Shares – –Adjusted average number of no-par shares issued Shares 398,088,928 398,088,928Basic earnings per sharefrom continuing operations EUR – 0.11 – 0.20from discontinued operations EUR 0.00 0.00Earnings per share applicable to the shareholders of Conergy AG EUR – 0.11 – 0.20Diluted earnings per sharefrom continuing operations EUR – 0.11 – 0.20from discontinued operations EUR 0.00 0.00Earnings per share applicable to the shareholders of Conergy AG EUR – 0.11 – 0.20Under the German Stock Corporation Act (Aktiengesetz),dividends eligible for distribution are calculatedbased on the unappropriated surplus pursuantto the annual financial statements of Conergy AGthat were prepared in accordance with the GermanCommercial Code.Given Conergy AG’s net loss of EUR 493.5 million as at31 December 2009, the Annual General Meeting resolvedon 5 October 2010 not to distribute any dividendfor the 2009 financial year. The net loss pursuant to theannual financial statements of Conergy AG accordingto the German Commercial Code as at 31 December2010 was EUR 195.7 million.At the Extraordinary General Meeting on 25 February2011, the Company’s shareholders voted to reducethe capital stock of Conergy AG from EUR 398,088,928.00,denominated in 398,088,928 no-par bearer shares(no-par shares) having a pro rata interest in the capitalstock of EUR 1.00 per share, to EUR 49,761,116, denominatedin 49,761,116 no-par bearer shares, andthus for an 8:1 reverse stock split. Several shareholdersplaced their objections to the resolutions of the GeneralMeeting on the Notary Public’s record. Whether or notand to what extent these shareholders will file actionsto set aside shareholder resolutions pursuant to Section246 para. 1 German Stock Corporation Act was not yetknown at the time this report was published.Conergy’s Management Board and Supervisory Boardpropose to the Annual General Meeting not to pay anydividend for the 2010 financial year.Basic and diluted earnings per share were EUR – 0.90(2009: EUR – 1.61), given the consolidated loss ofEUR 44.7 million (previous year: loss of 79.9 million)and a total of 49,761,116 shares in future.