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DES - Online Annual Report 2009

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Notes to the consolidated balance sheet – equity and liabilities:
11. Equity and reserves

Changes in equity are presented in the statement of changes in equity.

The share capital is €37,812,496 and is composed of 37,812,496 no-par-value registered shares (as at 31 December 2009).

Of these, 3,437,498 no-par-value registered shares with a notional value of €3,437 thousand were added to the share capital by way of a capital increase on 7 July 2009. The corresponding entry in the commercial register was made on 8 July 2009. The shares qualify in full for a dividend for financial year 2009.

The notional value of each share is €1.00.

According to Article 5 of the Articles of Association, the Executive Board is authorised, subject to the approval of the Supervisory Board, to increase the Company’s share capital by up to a total of €13,750,001 on one or multiple occasions until 20 June 2012 by issuing up to 13,750,001 no-par-value registered shares against cash or non-cash contributions.

The Executive Board is authorised, subject to the approval of the Supervisory Board and until 21 June 2011, to issue convertible bonds with a total notional value of up to €150,000,000 and maturities of up to seven years and to grant bondholders or creditors conversion rights to up to 7,500,000 new no-par-value registered shares in the Company with a proportionate amount of share capital of up to €7,500,000 as detailed in the terms and conditions for convertible bonds to be published by the Executive Board, with the approval of the Supervisory Board.

The parent company of the Group, Deutsche EuroShop AG, is reporting an unappropriated surplus of €46,320 thousand. The Executive Board and Supervisory Board will propose to distribute this amount as a dividend of €1.05 per share at the Annual General Meeting on 17 June 2010. The previous year’s unappropriated surplus was distributed in full to the shareholders. The dividend paid was €1.05 per share.

The capital reserves contain amounts in accordance with section 272 (2) nos. 1 and 4 of the Handelsgesetzbuch (HGB – German Commercial Code).

Retained earnings consists primarily of the remeasurement reserves and currency items recognised at the time of transition to IFRS.

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