Notes to the Consolidated Statement of Financial Position
26 Equity (page 1/3)
Capital stock umber of shares outstanding reasury stock
The shares are bearer shares and grant a pro rata amount of € 2.56 in the fully paid-in share capital of Heidelberger Druckmaschinen Aktiengesellschaft.
In the 2010/2011 financial year, Heidelberger Druckmaschinen Aktiengesellschaft implemented a capital increase on the basis of the resolutions of the Annual General Meeting of July 29, 2010. On this date, the Annual General Meeting resolved to increase the share capital of Heidelberger Druckmaschinen Aktiengesellschaft against cash contributions by up to € 399,582,382.08 by issuing up to € 156,086,868 new, no-par-value bearer shares. The Management Board was authorized, with the approval of the Supervisory Board, to determine the further details of the capital increase and its performance, including in particular the conditions for issuing the new shares and the subscription price. The capital increase resolution was entered in the commercial register on September 10, 2010. With the approval of the Supervisory Board, the Management Board exercised the above authorization and stipulated that 155,286,868 new, no-par-value bearer shares would be issued. Since the performance of the capital increases was entered in the commercial register on September 24, 2010, the share capital has been increased accordingly. The proceeds from the issue of € 419,442 thousand were reduced by issuing costs after taxes of € 15,498 thousand (tax: € 6,157 thousand). The share capital of Heidelberger Druckmaschinen Aktiengesellschaft therefore amounts to € 597,325,573.12 (previous year: € 199,791,191.04) and is divided into 233,330,302 shares (previous year: 78,043,434).
As of March 31, 2011, the Company holds 400,000 shares, as in the previous year. The shares were acquired in March 2007. The amount allocated to share capital is € 1,024 thousand, with a notional share of share capital of 0.17 percent as of March 31, 2011 (previous year: 0.51 percent). The cost of the acquisition was € 13,246 thousand. Additional transaction fees amounted to € 12 thousand. The total cost of the acquisition was therefore € 13,258 thousand.
As part of the agreement reached at the start of the year under review between the management and employee representatives on the coordination of interests for German locations (see note 14) it was agreed to set up an employee share participation program. The issuance of shares is therefore free of charge for employees. At the beginning of financial year 2011/2012 approximately 260,000 of the 400,000 bearer shares held by the Company were used for this employee share participation program.
Employee shares were measured on the basis of IFRS 2: Share-based Payment. The total cost of the employee program was € 3,025 thousand in the year under review. Capital reserves amounted to € 2,260 thousand as of March 31, 2011.
The capital reserves essentially include amounts from the capital increase according to Section 272 (2) 1 HGB (Commercial Code), from the simplified capital reduction in line with Section 237 (5) AktG (Stock Corporation Act) and expenses from the issuance of option rights to employees in line with IFRS 2: Share-based Payment.