Amadeus IT Holding, S.A. and Subsidiaries - Investor relations at ...

AMADEUS IT HOLDING, S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED ANNUAL ACCOUNTS FOR THE YEARS ENDED
DECEMBER 31, 2011, AND 2010
(EXPRESSED IN THOUSANDS OF EUROS - KEUR)
December 31, 2011, as a deduction from “Equity” and under the “Interim dividend
payable” caption in the statement of financial position and will be paid on January 30,
2012.
The balance on these accounts represents the accumulated retained losses of the
Group before the profit for the year, as well as reserves that are statutorily required.
According to the revised text of the Spanish Corporation Law (“Texto Refundido de la
Ley de Sociedades de Capital”), companies must transfer 10% of profit for the year
to a legal reserve until this reserve reaches 20% of share capital. The legal reserve
can be used to increase capital against the reserves by the amount exceeding 10%
of the increased capital amount. Except for this purpose, until the legal reserve
exceeds 20% of share capital, it can only be used to offset losses, if there are no
other reserves available.
As of December 31, 2010, the Company had duly set aside this reserve. As a result
of the capital increase carried out by the Company during 2011, the legal reserve is
not duly set. The proposed appropriation of results for the year of the Company (note
3) includes the transfer of KEUR 806 to this reserve.
69