PDF, 1.2 MB - Pfleiderer AG

134 being focused: being better
Capital reserve
In order to balance the net loss for the year, 190,575,717.34 euros were taken from capital
reserve.
Revenue reserve
In order to balance the net loss for the year, 508,163.64 euros were taken from revenue
reserve. Revenue reserve for treasury stock amounting to 7,566.75 euros were formed for
treasury stock held as part of the stock option scheme.
Dividends
The Annual General Meeting on July 2, 2002 resolved to pay a dividend of 0.20 euro per share
for 2001 and to carry forward the remaining 6,679 thousand euros.
In order to avoid an accumulated deficit, the Executive Board proposed to the Supervisory
Board that withdrawals be made from additional paid-in capital and retained earnings,
and that no dividend be paid in accordance with Sec. 150 AktG (“Aktiengesetz”: German Stock
Corporation Act). Sec. 150 AktG prohibits payment of a dividend from retained earnings when
additional paid-in capital is used to compensate for an accumulated deficit. The Supervisory
Board voted in favor of the proposal made by the Executive Board.
Changes in stockholders’ equity
Dec. 31, 2002 Dec. 31, 2001
‘000 euros ‘000 euros
1. Statutory reserves 0 0
2. Reserves for treasury stock 8 0
3. Other retained earnings 50,613 51,129
50,621 51,129
Capital Additional Retained Unappropri- Total
stock paid-in capital earnings ated profits
‘000 euros ‘000 euros ‘000 euros ‘000 euros ‘000 euros
As of January 1, 2002 109,274 201,503 51,129 15,215 377,121
Dividend – 8,537 – 8,537
Net loss for the year
Use of additional paid-in capital and retained earnings
– 197,762 – 197,762
to balance accumulated deficit – 190,576 – 508 191,084 0
As of December 31, 2002 109,274 10,927 50,621 0 170,822