Asus 2011 Annual Report Download - page 178

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E. The Company estimates the amount of employees’ bonuses and directors’ and supervisors’
remuneration according to the Company Act. and the Company’s articles of incorporation.
The employees’ bonuses and directors’ and supervisors’ remuneration were estimated and
recognized based on a specific percentage approved by the management in accordance with
the Company’s articles of incorporation. The Company recognized employees’ bonuses of
$708,379 and $710,625, and directors’ and supervisors’ remuneration of $141,676 and
$142,125 for the years ended December 31, 2011 and 2010, respectively. The number of
shares of the dividend distribution is based on the closing price of the day before the
stockholders’ meeting date and considering the effect of ex-rights and ex-dividends.
Differences between the amounts approved in the stockholders’ meeting and those
recognized in the financial statements, if any, are accounted for as changes in accounting
estimates and recognized as profit or loss in the year of distribution.
(20) Treasury stock
A. In order to maintain the Company’s credit worthiness and stockholders’ interest, the
Company purchased its outstanding shares as treasury stock under the Securities and
Exchange Act No. 28(2) during the years ended December 31, 2011 and 2010, respectively.
Movements of treasury stock are as follows:
B. Pursuant to the Company Act, the Company purchased 54,000 shares, amounting to $3,105,
from shareholders who disagreed with the transfer of the Company’s OEM business.
However, the Company subsequently disposed those shares in the open market after they
were purchased.
C. Pursuant to the Securities and Exchange Act, the number of shares bought back as treasury
stock should not exceed 10% of the number of the Company’s issued and outstanding shares
and the amount bought back should not exceed the sum of retained earnings, paid-in capital
in excess of par value and realized capital reserve.
D. Pursuant to the Securities and Exchange Act, treasury stock should not be pledged as
collateral and is not entitled to dividends before it is reissued.
E. Pursuant to the Securities and Exchange Act, treasury stock for the purpose of enhancing the
Company’s credit worthiness and stockholders’ right should be retired within six months
after acquisition.
Shares Shares
(in thousands) Amount (in thousands) Amount
Beginning of the year - -$ - -$
Addition 10,000 2,609,422 10,000 2,321,248
Retirement and transfer 10,000)( 2,609,422)( 10,000)( 2,321,248)(
Ending of the year --$ -$ -$
2011/1/1~12/31 2010/1/1~12/31