Annual Report 2009/10 Excellence in Retailing - Douglas Holding

152 Financial statements
Facts & figures
Consolidated income statement
Consolidated balance sheet
Statement of changes in Group equity
Segment reporting
Consolidated Cash Flow statement
Notes
Notes to the income statement
Notes to the balance sheet
Auditor’s report
The Shareholders’ Meeting on March 24, 2010 authorized the Executive Board pursuant
to Section 71 (1) No. 8 of the German Stock Corporation Act (AktG), with the approval
of the Supervisory Board, to acquire own shares of up to 10 percent of the share capital up
to September 23, 2011. This authorization has not been acted on.
Earnings per share are calculated by dividing net income by the average number
of shares outstanding in the year under review. These increased in fiscal year 2009/10
through the issue of 39,315,424 employee shares (previous year: 39,273,539).
Authorized capital I
By way of a shareholders’ resolution dated March 12, 2008, the Executive Board was
authorized, with the approval of the Supervisory Board, to increase the company’s share
capital by up to 25.0 million EUR in the period up to March 11, 2013 by issuing single or
multiple new, no-par value bearer shares against cash or non-cash contributions.
In so doing, the shareholders are to be granted subscription rights for cash capital increases.
However, the Executive Board is authorized, with the approval of the Supervisory
Board, to exclude fractions from the shareholders’ subscription rights. In the case of noncash
capital increases, the Executive Board is authorized, with the approval of the Supervisory
Board, to exclude shareholders’ subscription amounts up to a nominal amount of
12.5 million EUR in total for the purpose of acquiring companies or participating interests
in companies. The Executive Board is also authorized, with the approval of the Supervisory
Board, to define the conditions for issuing shares and the further details for implementing
capital increases from authorized capital. Authorized capital I has not been utilized to date.
Authorized capital II
By way of a resolution of the Shareholders´ Meeting dated March 12, 2008, the Executive
Board was authorized, with the approval of the Supervisory Board, to increase the company’s
share capital by up to 1.5 million EUR in the period up to March 11, 2013 by issuing new,
no-par value bearer shares against cash contributions on one or several occasions.
In so doing, the Executive Board can, with the approval of the Supervisory Board, exclude
shareholders’ subscription rights in order to issue the new no-par value shares to employees
of the company or of an associated company. The Executive Board, with the approval
of the Supervisory Board, decides on the issue of new no-par value shares and the
conditions of the issue. Including the 41,580 shares issued to employees during the year under
review (is equivalent to capital stock of 124,740.00 EUR), authorized capital II has to date been
utilized in the amount of 0.3 million EUR. A further 56,330 employee shares were issued in
November 2010 at a price of 20.00 EUR. These carry dividend rights for the year under review.
Additional paid-in capital
Additional paid-in capital comprises of the excess paid by shareholders over the par
value price of capital stock. Premiums from the capital increase for employee shares in the
amount of 1.1 million EUR were added to the additional paid-in capital.
As part of the employee shares option program, employees are permitted to purchase
a specific number of DOUGLAS HOLDING AG shares once a year at a subscription price.
Employees are permitted to order the shares on a predetermined date in the first quarter