SOL MELIA ANNUAL REPORT 00 COMP
SOL MELIA ANNUAL REPORT 00 COMP SOL MELIA ANNUAL REPORT 00 COMP
17 Own Shares The breakdown and movement of the own shares are as follows: (Thousands of pesetas) AVERAGE AVERAGE SHARES PRICE PRICE AMOUNT AMOUNT PTAS. EUROS PTAS. EUROS Balance at 12/31/1999 600,000 2,044,89 12,29 1,226,936,462 7,374,037 Acquisitions of the year 630,362 1,699,70 10,22 1,071,428,509 6,439,415 Disposals of the year (195,425) (2,044,89) 12,29 (399,623,072) (2,401,783) TOTAL 1,034,937 1,834,64 11,03 1,898,741,899 11,411,669 Provisions (96,273,821) (578,617) TOTAL OWN SHARES 1,034,937 1,741,62 10,47 1,802,468,078 10,833,052 Disposals for the year arise from the non-monetary contribution for the acquisition of the shares of Azafata, S.A. The Options Programmes for executives, establishing their right to purchase up to 200,000 old shares of Sol Meliá, S.A., have been cancelled during the year. At December 31, 2000 the total own shares represent 0.56 per cent of share capital. S OL M ELIÁ A NNUAL R EPORT 2000 118
18 Equity The breakdown and movements of the items in this heading of the accompanying 2000, 1999 and 1998 balance sheets are shown below: (Thousands of pesetas) BALANCE BALANCE DISTRIBUTION OF ADDITIONS TRANSFERS DISPOSALS BALANCE 31/12/98 31/12/99 1999 RESULTS 31/12/00 Capital 3,100,000 5,708,859 439,995 6,148,854 Non-distributable reserves 1,101,089 1,837,935 426,942 688,992 2,953,870 Share premium 33,095,450 100,418,656 32,559,608 (679,363) 132,298,900 Reserves REV. R.D.I. 7/96 8,032,947 8,032,947 Reserve Inv. Canary I. 951,121 2,033,319 1,231,808 3,265,127 Voluntary reserves 18,270 725,580 7,351,279 448,674 (3,432,770) 5,092,764 Reserves Cies. full cons. 4,623,663 26,064,671 5,472,480 7,349,787 (457,313) (245,211) 38,184,435 Reserves Cies. Eq. Method 339,506 392,171 161,249 6,459 (990) (193,913) 364,978 Conv.dif. Cies. full cons. (290,189) 6,378,310 3,487,057 9,865,367 Conv. Dif. Cies. Eq. Method (610,117) (18,963) 15,487 (3,475) Interim dividend (1,240,000) Consolidated P/L. 6,986,150 15,667,956 (15,667,956) 19,738,432 19,738,432 Minority interest P/L. (70,375) (1,024,201) 1,024,201 (992,642) (992,642) TOTAL 48,004,568 166,217,239 62,604,155 0 (3,871,893) 224,949,526 18.1 Share capital The share capital of SOL MELIA, S.A. at December 31, 2000 comprises 184,776,777 bearer shares with a par value of Euros 0.2 each, fully subscribed and paid up. All the shares comprising share capital quote on the Stock Exchange and have the same rights, except for the own shares. At the Ordinary and Extraordinary General Shareholders’ Meeting held on May 29, 2000, the shareholders empowered the Board of Directors to increase share capital without their prior consent, up to a maximum of Euros 17,155,647 (Ptas. 2,854 million). The Board of Directors was also authorised to issue convertible bonds within a maximum period of 5 years and up to Euros 17,155,467, thereby nullifying, with regard to the pending execution period, the authorisation given by the shareholders at the General Shareholders’ Meeting held on July 16, 1999 for the application of Euros 3.9 million. The Board of Directors, empowered by the shareholders at the General Extraordinary Shareholders’ Meeting held on October 23, 2000, agreed in its meeting of November 20 to increase share capital by Euros 2,644,421.40 euros by issuing and putting into circulation a maximum of 13,222,107 new ordinary shares with a par value of Euros 0.2 each and with a S OL M ELIÁ A NNUAL R EPORT 2000 119
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18 Equity<br />
The breakdown and movements of the items in this heading of the accompanying 2<strong>00</strong>0, 1999 and 1998 balance sheets<br />
are shown below:<br />
(Thousands of pesetas)<br />
BALANCE BALANCE DISTRIBUTION OF ADDITIONS TRANSFERS DISPOSALS BALANCE<br />
31/12/98 31/12/99 1999 RESULTS 31/12/<strong>00</strong><br />
Capital 3,1<strong>00</strong>,<strong>00</strong>0 5,708,859 439,995 6,148,854<br />
Non-distributable reserves 1,101,089 1,837,935 426,942 688,992 2,953,870<br />
Share premium 33,095,450 1<strong>00</strong>,418,656 32,559,608 (679,363) 132,298,9<strong>00</strong><br />
Reserves REV. R.D.I. 7/96 8,032,947 8,032,947<br />
Reserve Inv. Canary I. 951,121 2,033,319 1,231,808 3,265,127<br />
Voluntary reserves 18,270 725,580 7,351,279 448,674 (3,432,770) 5,092,764<br />
Reserves Cies. full cons. 4,623,663 26,064,671 5,472,480 7,349,787 (457,313) (245,211) 38,184,435<br />
Reserves Cies. Eq. Method 339,506 392,171 161,249 6,459 (990) (193,913) 364,978<br />
Conv.dif. Cies. full cons. (290,189) 6,378,310 3,487,057 9,865,367<br />
Conv. Dif. Cies. Eq. Method (610,117) (18,963) 15,487 (3,475)<br />
Interim dividend (1,240,<strong>00</strong>0)<br />
Consolidated P/L. 6,986,150 15,667,956 (15,667,956) 19,738,432 19,738,432<br />
Minority interest P/L. (70,375) (1,024,201) 1,024,201 (992,642) (992,642)<br />
TOTAL 48,<strong>00</strong>4,568 166,217,239 62,604,155 0 (3,871,893) 224,949,526<br />
18.1 Share capital<br />
The share capital of <strong>SOL</strong> <strong>MELIA</strong>, S.A. at December 31, 2<strong>00</strong>0 comprises 184,776,777 bearer shares with a par value of<br />
Euros 0.2 each, fully subscribed and paid up.<br />
All the shares comprising share capital quote on the Stock Exchange and have the same rights, except for the own shares.<br />
At the Ordinary and Extraordinary General Shareholders’ Meeting held on May 29, 2<strong>00</strong>0, the shareholders empowered<br />
the Board of Directors to increase share capital without their prior consent, up to a maximum of Euros 17,155,647<br />
(Ptas. 2,854 million). The Board of Directors was also authorised to issue convertible bonds within a maximum period<br />
of 5 years and up to Euros 17,155,467, thereby nullifying, with regard to the pending execution period, the authorisation<br />
given by the shareholders at the General Shareholders’ Meeting held on July 16, 1999 for the application of Euros<br />
3.9 million.<br />
The Board of Directors, empowered by the shareholders at the General Extraordinary Shareholders’ Meeting held on<br />
October 23, 2<strong>00</strong>0, agreed in its meeting of November 20 to increase share capital by Euros 2,644,421.40 euros by issuing<br />
and putting into circulation a maximum of 13,222,107 new ordinary shares with a par value of Euros 0.2 each and with a<br />
S OL<br />
M ELIÁ<br />
A NNUAL R EPORT 2<strong>00</strong>0<br />
119
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