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86Conergy AG I Annual Report 2010| IAS 32 (Amendment), Classification of RightsIssues (1 February 2010)This amendment concerns the accounting for subscriptionrights as well as options and warrants denominatedin a foreign currency at the issuer. Suchrights must now be recognised as equity and nolonger as liabilities if both the number of the instrumentsto be obtained and the foreign currencyamount were fixed in advance and all previous ownersof equity securities of the same class are grantedthis right on a pro rata basis. The Conergy Groupcurrently does not expect these amendments to havean effect on its consolidated financial statements.– the option of presenting the other comprehensiveincome as required under IAS 1 either in the statementof changes in equity or in the notes.The majority of the amendments must be applied forthe first time to financial years beginning on or after1 January 2011. The Conergy Group is cur rently reviewingwhat effects individual amend ments could have onits assets, liabilities, cash flows and profit or loss andon their presentation.| IFRIC 14 (Amendment), IAS 19 – The Limit on aDefined Benefit Asset, Minimum Funding Requirementsand Their Interaction (1 January 2011)| Various Standards, Improvements to IFRSs 2010(1 July 2010 and 1 January 2011)In May 2010, the IASB published the document relatedto the third cycle of the improvements to IFRSsthat contains a total of 11 amendments to sevenstandards. The most important of these concern:– the clarification that the option to measure noncontrollinginterests either at the acquisition-datefair value or at the proportionate share of the acquiree’sidentifiable assets relates only to noncontrollinginterests that are present ownershipinstruments (generally shares). Derivatives classi fiedas equity are not affected by this option. They mustalways be measured at the acquisition-date fairvalue subject to different requirements in otherIFRSs (IFRS 3);– the clarification that share-based transactions ofan acquiree that are not replaced by the sharebasedpayment transactions of the acquirer shallalso be measured in accordance with the marketbasedvalue at the acquisition date as defined inIFRS 2. The fair value is allocated to the considerationfor the acquisition of control and futureservices irrespective of whether or not the acquireris obligated to replace the share-based paymentaward or replaces it voluntarily (IFRS 3);– the clarification that the rules for financial instrumentsdo not apply to contingent consideration relatedto transactions that occurred before theapplication date of IFRS 3 (as revised in 2008). Thisamendment is not expected to have any effect onthe assets, liabilities, cash flows and profit or lossof the Conergy Group because Conergy does notrecognise contingent consideration in accordancewith the rules applicable to financial instruments;This amendment of IFRIC 14 is relevant in those caseswhere an entity is subject to minimum funding requirementsand makes prepayments in order to fulfil theseminimum funding requirements. It allows entitiesin such cases to recognise the benefit from such anadvance payment as an asset. The Conergy Groupcurrently does not expect these amendments to havean effect on its consolidated financial state ments.| IFRIC 19, Extinguishing Financial Liabilities withEquity Instruments (1 July 2010)According to the interpretation, equity instrumentsissued by a debtor to a creditor to extinguish all orpart of the financial liability shall be treated as considerationpaid in accordance with IAS 39.41. Thedebtor thus shall remove the financial liability (orpart of the financial liability) from its statement of financialposition. Subsequently, the equity instrumentsshall be measured at the fair value of theex tinguished liability. If only part of the financial liabilityis extinguished, the entity shall assess whethersome of the consideration paid relates to a modificationof the terms of the liability that remains outstanding.The difference between the carrying amountof the financial liability extinguished and the initialmeasurement amount of the equity instruments issuedshall be recognised in profit or loss. The ConergyGroup is currently reviewing what effects in di vidualamendments could have on its assets, liabilities,cash flows and profit or loss and on their presentation.With the exception of IFRS 7, IFRS 9, IAS 12 and IFRS 1,Severe Hyperinflation and Removal of Fixed Dates forFirst-Time Adopters, these revised and new standardsand interpretations had been adopted by the EU by thetime the Company’s consolidated financial statementswere completed. No voluntary early application of thestandards and interpretations already adopted was made.