Hornbach-Baumarkt-AG Group

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Notes on the Consolidated Balance Sheet 127
(19) Non-current assets held for sale and disposal groups
This item includes assets which are highly likely to be sold in the coming financial year.
In the 2012/2013 financial year, three pieces of land were reclassified at an amount of € 1,319k out of property,
plant and equipment. Of these, one property was already sold in the current financial year.
The gain generated from the piece of land sold in the financial year under report has been recognized under
other income from non-operating activities. As in the previous year, no impairment losses were recognized on
non-current assets held for sale in the year under report.
(20) Shareholders’ equity
The development in the shareholders’ equity of the HORNBACH-Baumarkt-AG Group is shown in the statement
of changes in group equity for the 2012/2013 and 2011/2012 financial years.
Share capital
In the 2011/2012 financial year, the Annual General Meeting of HORNBACH-Baumarkt-AG on held on July
7, 2011 decided, among other items, to increase the company's share capital by issuing bonus shares from
company funds. As a result of the issue of bonus shares at a ratio of 1:1, the number of shares in HORNBACH-
Baumarkt-AG doubled. By converting a partial amount of € 47,710,500 of the revenue reserves reported in the
company's annual balance sheet as of February 28, 2011 into share capital, the share capital doubled to
€ 95,421,000. It is divided into 31,807,000 individual shares with a prorated nominal amount € 3.00 per share.
The bonus shares enjoy dividend entitlement from March 1, 2011.
The Annual General Meeting held on July 7, 2011 resolved the creation of Authorized Capital I and Authorized
Capital II in line with the following provisions:
• The Board of Management is authorized until July 7, 2016, subject to approval by the company’s Supervisory
Board, to increase the company’s share capital by up to € 15,000,000 by means of a single or repeated
issue of new shares – ordinary shares with voting rights or non-voting preference shares – in exchange
for cash contributions (Authorized Capital I). Shareholders’ subscription rights may be excluded in
specified circumstances.
• The Board of Management is authorized until July 7, 2016, subject to approval by the company’s Supervisory
Board, to increase the company’s share capital by up to € 30,000,000 by means of a single or repeated
issue of new shares – ordinary shares with voting rights or non-voting preference shares – in exchange
for cash or non-cash contributions (Authorized Capital II). Shareholders’ subscription rights may
be excluded in specified circumstances.
Total authorized capital therefore amounts to € 45,000,000, equivalent to 47.16% of the current share capital
(2011/2012: 47.16%).
On the basis of a resolution adopted by the Board of Management on August 13, 2012, the employees of
HORNBACH-Baumarkt-AG and its foreign subsidiaries were offered employee shares at a preferential price of
€ 13.00 per share. A total of 37,360 shares were acquired via the stock exchange at an average price of
€ 24.67 and subsequently assigned to employees. An amount of € 18k was recognized in equity to account for
the difference (€ 0.47) between the acquisition price and the stock market price upon the date on which the