AEG 21604 G Manual de usuario descargar pdf (Pagina 535)

100

101

F-294

Other Information

Provisions in the articles of association governing the appropriation of profit

According to article 25 of the Company’s articles of association, the profit is at the disposal of the General Meet-

ing of Stockholders, which can allocate the profit wholly or partly to the general or specific reserve funds.

The Company can only make payments to the stockholders and other parties entitled to the distributable profit

for the amount the stockholders’ equity is greater than the paid-up and called-up part of the capital plus the le-

gally required reserves.

Proposal for profit appropriation

The General Meeting of Stockholders will be asked to approve the following appropriation of the 2009 profit: an

amount of € 29,879,000 to be added to the other reserves. The result after taxes for 2009 is included under the

retained earnings item in the stockholder’s equity.

Subsequent events

On 28 February 2010, the Company acquired 75% of the shares in Skytron GmbH in Germany. In June 2010 the

board of directors decided not to sell Harmer & Simmons S.A.S. and to bring the discontinued operation back in

use.

On 31 July 2010 Mr Bruce Brock resigned as Director and was replaced by Dr. Horst J. Kayser.

On 27 August 2010 the following non-trading subsidiaries were liquidated: PSS Finance Company Ltd, RD

Power Ltd, Harmer & Simmons Holdings Ltd. and Harmer & Simmons Ltd. The Company incurred a non-cash

loss of €1.4m on the liquidations.

In July 2010 the Company issued guarantees of €10,000,000 related to bridging loans secured by the Company’s

subsidiaries in Italy for the purpose of financing the construction of solar power generation farms. There are two

such loans of €5,000,000 each, expiring in March 2011 and April 2011 respectively. In October 2010 the Com-

pany guaranteed a new bank bond facility of one of its subsidiaries. The maximum potential contingent liability

of the Company under such guarantees, including those in existence at 31 December 2009 (see note 14), was

€30,172,000. The actual amount drawn on these facilities and hence the actual contingent liability of the Com-

pany at the end of October 2010 was €16,473,000.

On 27 July 2010, the AEG trademark license was amended to expand the range of products covered and set

minimum royalty and sale targets through 2014. The term of the license was also extended until 2028.

On 3 November 2010 the parent company, 3W Power Holdings SA announced its plan for a bond offering. AEG

Power Solutions B.V. is expected to be a guarantor of the bond.

Auditor’s report

The auditor’s report is set forth on the following pages.

1 2 ... 530 531 532 533 534 535 536 537 538 539 540 ... 650 651

AEG 21604 G Manual de usuario Pagina 535

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