117
116
Annual Financial Statements
4.13 Total Equity
4.13.1 Share capital
The 2nd Repeat General Meeting of the Company’s Shareholders that was held on 3 June 2011 deliberated and re-
solved to: A) The decrease of the Company’s share capital by
€
6,030,410.86 through the cancellation of 5,635,898
own shares, with corresponding amendment of article 5 par. 1 of the Company’s Articles of Association. As a result of
the aforementioned decrease, the Company’s share capital shall amount to
€
119,142,830.80, divided into 111,348,440
registered shares with a nominal value of
€
1.07 each. B) The increase of the Company’s share capital by the amount of
€
5,957,141.54 through capitalisation of reserves against the issue of 5,567,422 new shares, with corresponding amend-
ment of article 5 of the Company’s Articles of Association. As a result of the aforementioned increase, the Company’s
share capital shall amount to
€
125,099.972.34, divided into 116,915,862 registered shares with a nominal value of
€
1.07
each.
4.13.2 Reserves
Reserves in the financial statements are analysed as follows:
MYTILINEOS GROUP
(Amounts in thousands
€
)
Regular
Reserve
Special &
Extraordinary
Reserves
Tax-free and
Specially taxed
Reserves
Revaluation
reserves
Financial
instruments
valuation reserve
Stock Option
Plan Reserve
Actuarial
Gain/Losses
Reserve
Total
Opening Balance 1st
January 2013, according
to IFRS -as published-
20,522
36,307
91,128
221
(388)
1,225
7,239 156,253
Transfer To Reserves
294
(216)
-
-
-
-
-
79
Impact From Merge
Through Acquisition Of
Subsidiary
-
-
69,151
-
-
-
- 69,151
Cash Flow Hedging
Reserve
-
-
(79)
-
103
-
-
24
Income Tax Relating To
Companies Of Other
Comprehensive Income
-
-
-
-
-
-
(3)
(3)
Actuarial Gain/(Losses)
-
-
-
-
-
-
(5,890)
(5,890)
Gain/(Loss) From Sale f
Treasury Stock
-
-
(79,073)
-
-
-
- (79,073)
Closing Balance
31/12/2013
20,816
36,091
81,127
221
(285)
1,225
1,349 140,542
Opening Balance 1st
January 2014, according
to IFRS -as published-
20,816
36,091
81,127
221
(285)
1,225
1,348 140,542
Transfer To Reserves
(249)
(25,771)
(3,651)
-
(2,707)
-
6 (32,371)
Impact From Acquisition Of
Share In Subsidiaries
-
-
-
-
-
-
-
-
Impact From Transfer Of
Subsidiary
(1,027)
(1,796)
-
-
-
-
(13)
(2,836)
Cash Flow Hedging
Reserve
-
19
(1,356)
-
417
-
(78)
(998)
Deferred Tax From
Actuarial Gain/(Losses)
-
-
-
-
-
-
90
90
Actuarial Gain/(Losses)
-
-
-
-
-
-
(2,442)
(2,442)
Closing Balance
31/12/2014
19,541
8,542
76,120
221
(2,575)
1,225
(1,089) 101,984
MYTILINEOS S.A.
(Amounts in thousands
€
)
Regular
Reserve
Special &
Extraordinary
Reserves
Tax-free and
Specially taxed
Reserves
Revaluation
reserves
Financial
instruments
valuation reserve
Stock Option
Plan Reserve
Actuarial
Gain/Losses
Reserve
Total
Opening Balance 1st
January 2013, according
to IFRS -as published-
55,572
25,112
13,052
172
-
1,225
(67) 95,066
Actuarial Gain/(Losses)
-
-
-
-
-
-
21
21
Gain / (Loss) From Sale Of
Treasury Stock
-
-
(79,058)
-
-
-
- (79,058)
Closing Balance
31/12/2013
55,572
25,112
(66,006)
172
-
1,225
(46) 16,029
Opening Balance 1st
January 2014, according
to IFRS -as published-
55,572
25,112
(66,006)
172
-
1,225
(46) 16,029
Transfer To Reserves
-
(25,183)
(4,440)
-
-
-
- (29,622)
Deferred Tax From
Actuarial Gain/(losses)
-
-
-
-
-
-
19
19
Actuarial Gain/(Losses)
-
-
-
-
-
-
(68)
(68)
Impact From Merge
Through Acquisition Of
Subsidiary
-
17,060
-
-
-
73
(4) 17,129
Closing Balance
31/12/2014
55,572
16,989
(70,446)
172
-
1,298
(99) 3,486
The majority of the above reserves relates to Parent Company
and Greek subsidiaries. Under Greek corporate law, corpora-
tions are required to transfer a minimum of 5% of their annual
net profit as reflected in their statutory books to a legal reserve,
until such reserve equals one-third of the outstanding share
capital. The above reserve cannot be distributed throughout the
life of the company.
Tax free reserves represent non distributed profits that are ex-
empt from income tax based on special provisions of develop-
ment laws (under the condition that adequate profits exist for
their allowance). These reserves mainly re-
late to investments and are not distributed.
Specially taxed reserves represent interest
income and income from disposal of listed
in the Stock Exchange and non listed com-
panies and are tax free or tax has been
withheld at source. Except for any tax pre-
payments, these reserves are exempted
from taxes, provided they are not distrib-
uted to shareholders.
