ANNUAL REPORT 2006 - DG Hyp
ANNUAL REPORT 2006 - DG Hyp
ANNUAL REPORT 2006 - DG Hyp
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(16) Subscribed capital<br />
70 Deutsche Genossenschafts-<strong>Hyp</strong>othekenbank AG | Annual Report <strong>2006</strong><br />
Notes to the Financial Statements<br />
31 Dec <strong>2006</strong> 31 Dec 2005<br />
€ 000’s € 000’s<br />
Issued share capital 90,000 90,000<br />
Silent partnership contributions 927,687 773,687<br />
Total 1,017,687 863,687<br />
The issued share capital amounts to € 90,000,000 and is divided into 3,500,000 notional no-par value shares (“unit shares”).<br />
VR-Immobilien GmbH, Frankfurt/Main (“VR IMMO”) holds 3,321,500 shares (94.9 per cent), of which 1,131,320 shares are held<br />
in trust by other entities. The remaining 178,500 shares (5.1 per cent) are held by DZ BANK AG Deutsche Zentral-Genossenschaftsbank,<br />
Frankfurt/Main.<br />
The silent partnership contributions are partial profit transfer agreements within the meaning of section 292 (1) no. 2 of the AktG.<br />
Of the silent contributions, € 334.0 million are unlimited, the remaining € 593.7 million are available through to the end of financial<br />
years 2007-2009. Of the silent contributions, € 773.9 million correspond to the provisions of Section 10 (4) of the KWG on<br />
the balance sheet date.<br />
(17) Breakdown of, and statement of changes in reserves<br />
Balance on Additions Disposals Balance on<br />
31 Dec 2005 31 Dec <strong>2006</strong><br />
€ 000’s € 000’s € 000’s € 000’s<br />
Capital reserve 524,113 30,000 – 554,113<br />
Retained earnings (93,145) (93,145)<br />
– Legal reserves 945 – – 945<br />
– Other retained earnings 92,200 – – 92,200<br />
Total 617,258 30,000 – 647,258<br />
The contribution to the capital reserve was shared between VR IMMO (94.9 per cent) and DZ BANK AG (5.1 per cent), in line with<br />
their respective shareholding.<br />
(18) Contingent liabilities<br />
This item includes predominantly € 563 million in loan guarantees extended to DZ BANK AG as cover for new commercial<br />
real estate finance exposures extended by DZ BANK AG and guaranteed by <strong>DG</strong> HYP.<br />
(19) Revaluation reserves<br />
No revaluation reserves pursuant to section 10 (2b) sentence 1 no. 6 of the KWG were included in liable capital.