Annual Report - Miba

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acquired shares in exchange for the acquisition of companies, sites, partial sites or shares
of one or more companies in or outside of Austria other than by stock exchange or public
offer. The company must publicize the buy-back program as well as its duration. Furthermore,
the Management Board was authorized to withdraw shares without further approval
by the Annual General Shareholders’ Meeting.
Capital Reserves
Capital reserves relate to all committed additional paid-in capital in the share premium
account from the share issue at the company’s incorporation, the share premium account
of Emission B as well as from the issue of equity certificates according to Article 174 paragraph
3 of the Austrian Stock Corporation Law (AktG) and the issue of 6 1/4 % bonds with
warrants.
The equity certificates according to Article 174 paragraph 3 of the Austrian Stock Corporation
Law (AktG) (total nominal value: EUR 1,162,765.35) were cancelled by the
company giving three months’ notice, effective as of February 29, 2004 (effective
cancellation date). All equity certificates were cancelled; therefore, trading of this
instrument at the Vienna Stock Exchange was discontinued on February 27, 2004 at the
end of the day.
According to the equity certificate regulations, the repayment amount of EUR
14,769,600.00 is recorded under the balance sheet item “Equity certificates” according to
Article 174 paragraph 3 of the Austrian Stock Corporation Law (AktG). The difference to
the total nominal amount (EUR 13,606,834.65) appears in the consolidated income statement
of the previous fiscal year under “Extraordinary expenses”.
Untaxed Reserves
The breakdown of the untaxed reserves and their development in the year under review
is illustrated separately (see Appendix 2 to the Notes).
Other Provisions
Other provisions primarily include provisions for personnel expenses.
Liabilities
All liabilities due January 31, 2005 (and in the previous year) have a residual term of up to
one year.
The item “Other liabilities” includes expenditure amounting to EUR 77,390.17 (TEUR 68.3
in the previous year), which does not become due until after the balance sheet date.