Südzucker International Finance B. V. Südzucker AG ... - Xetra

Consolidated financial statements1.4 Securities and cashFebruary 28 2003 2002D millionOther securities 220.9 125.0Cash 206.6 303.9427.5 428.9Other securities consist of short-term bonds and debentures, equities and fund certificates and are readilymarketable.Amongst others, the balance of liquid funds is available to settle the liabilities of beet farmers due in March andApril 2003.1.5 Shareholders' equityThe subscribed capital of Südzucker AG is divided into 174,787,946 shares, each share having an imputed proportionof the share capital of D 1.00. At February 28, 2003 there was an authorised capital of D 9,220,374.00. Hence, theexecutive board is entitled, with the approval of the supervisory board, to increase the share capital and reserves ofthe company by up to D 18,644,488 until June 30, 2006 in one or more tranches, through the issue of new bearershares of no par value for cash.AGRANA Beteiligungs-AG sold its portfolio of 1,526,457 Südzucker AG shares for a price of D 15 per share.On February 28, 2003 this company still held 2,922,400 Südzucker AG shares for its own account.The net decrease in fair value reserve of D 6.7 million relates to an increase of D 2.0 million in the fair values ofinvestments and securities, and a decrease of D 8.7 million in the fair values of cash flow hedges. A statement ofmovements in shareholders’ equity is set out on page 61.F-20