Fortis Funds (Nederland) N.V. - BNP Paribas Investment Partners
Fortis Funds (Nederland) N.V. - BNP Paribas Investment Partners
Fortis Funds (Nederland) N.V. - BNP Paribas Investment Partners
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<strong>Fortis</strong> <strong>Funds</strong> (<strong>Nederland</strong>) N.V. Condensed Interim Report 2009<br />
30 June 2009 UNAUDITED<br />
2.2 Accounting policies<br />
The same principles are used for the valuation of the assets and liabilities and determination of<br />
results as in the financial statements for the year ended 31 December 2008.<br />
3. Share capital and share premium<br />
Number of shares Ordinary Share Total<br />
shares premium<br />
x € 1,000 x € 1,000 x € 1,000<br />
At 1 January 2008 500 227 828 1,055<br />
Business combination 11,274 11,274<br />
At 31 December 2008 500 227 12,102 12,329<br />
Issued and paid up capital<br />
On 1 November 2008, the Company’s articles of association were amended with regard to share<br />
capital for the conversion of NLG to EUR ex article 178b Part 5, book 2 of the Dutch Civil Code.<br />
Before this amendment NLG amounts were converted into EUR in accordance with article 178c of the<br />
Dutch Civil Code. After conversion the authorised share capital amounts to EUR 450,000 consisting<br />
of 1,000 shares with a face value of EUR 450 each.<br />
In accordance with article 178a Part 5, book2 of the Dutch Civil Code a legal reserve is recognised for<br />
the difference between the value of the issued capital by using the official European Union conversion<br />
rate and the amended value in the articles of association.<br />
At 30 June 2009, 500 shares have been issued and fully paid.<br />
Share premium<br />
Share premium increased in 2008 due to the acquisition of the amalgamated company by the<br />
Company on 1 November 2008. The amalgamated company’s issued capital has been reclassified<br />
into share premium.<br />
Distribution of profit<br />
Dividends are recognised as a liability in the period in which they are declared.<br />
4. Income tax expenses<br />
The standard and effective tax rate for the period from 1 January to 30 June 2009 was 25.5% (2008:<br />
25.5%).<br />
5. Dividends<br />
Dividend 2008 (EUR 11.587 thousand) was paid in June 2009.<br />
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