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