Notes to the company accounts 2017
5 Shareholder’s equity
The authorised capital consists of 2,250,000 ordinary €100 shares, of which 453,780 have been issued and are fully paid up. The share premium reserve created on payment for the shares is not distributable free of tax. The composition of shareholder’s equity and movements in it were as follows:
|Issued capital||Share premium reserve||Statutory reserves||Other reserves||Unappropriated result||Total|
|As at 1 January 2016||45,378||7,683||2,440||190,239||1,268||247,008|
|Addition to reserves||-||-||-||888||-888||-|
|Result for 2016||-||-||-||-||-16,717||-16,717|
|Exchange differences and other movements||-||-||-206||-47||-||-253|
|As at 31 December 2016||45,378||7,683||2,234||191,080||-16,717||229,658|
|Addition to reserves||-||-||-||-16,717||16,717||-|
|Result for 2017||-||-||-||-||10,616||10,616|
|Exchange differences and other movements||-||-||-17||-166||-||-183|
|As at 31 December 2017||45,378||7,683||2,217||174,197||10,616||240,091|
Of the statutory reserves, an amount of €0.1 million negative relates to exchange differences at participating interests and an amount of €2.3 million to the cost of developing non-current intangible assets. Under article 389 (8) and article 365 (2) of Part 9, Book 2 of the Dutch Civil Code (statutory reserves), these amounts are not freely distributable.
In April 2017, the Annual General Meeting acting on a recommendation by the Supervisory Board decided to adopt the annual accounts for 2016 without change. In accordance with the company’s Articles of Association it was agreed to charge the result for 2016 to other reserves.