OFFERING MEMORANDUM Global Offering of up to ... - Nordex

ANNUAL ACCOUNTS FOR THE ABBREVIATED FISCAL YEAR
FROM AUGUST 25 TO SEPTEMBER 30, 2000
NOTES TO THE FINANCIAL STATEMENTS
(I) General
At the balance sheet date, the Company presented the size criteria of a small stock corporation under
the terms of Art. 267(1) German Commercial Code (‘‘HGB’’) but has applied voluntarily the principles
governing large corporations in accordance with Art. 267(3) HGB.
The annual financial statements of TAIFUN AG for the short fiscal year from August 25 to September
30, 2000, have been prepared according to the applicable HGB provisions.
The figures stated in the balance sheet at 8-25-2000 correspond to the opening balance sheet.
(II) Accounting and valuation methods
The provision for the sundry accrued liabilities has been measured to adequately account for all
identifiable risks and uncertain obligations.
(III) Comments on the balance sheet
Capital stock
The Company’s capital stock amounts to approx. DM 98,000 (E50,000) and is divided into 50,000 bearer
shares of no-par stock at E1.00 each.
Sundry accrued liabilities
These cover accrued annual closing fees and expenses.
(IV) Comments on the income statement
Sundry operating expenses
This line basically includes the annual closing fees and expenses.
(V) Additional disclosures
Workforce
In the short period under review, the Company had no employees of its own.
Boards
Appointed as Supervisory Board members:
Dr.-Ing. Hans Fechner, Düsseldorf,
Dipl.-Ökonom Ludger Kramer, Kempen,
Dr. Siegfried Michelfelder, Gummersbach.
Appointed as Executive Board members:
Dipl.-Oec. Michael von Cappeln, Krefeld
Dr.-Ing. Dietmar Kestner, Essen
Ownership
All of the Company’s stock (100%) is held by Borsig Energy GmbH, Oberhausen.
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