DHL 2014 Annual Report Download - page 180
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Please find page 180 of the 2014 DHL annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.. Authorisation to acquire treasury shares
In nancial year , use was made of the authorisation to acquire
treasury shares granted until April by the Annual General
Meeting on April and extended on May . e
Annual General Meeting on May resolved to revoke the
authorisation as of the eective date of the new authorisation. By
way of a resolution adopted by the Annual General Meeting on
May , the company continues to be authorised to acquire
treasury shares in the period to May of up to of
the share capital existing when the resolution was adopted. e
author isation permits the Board of Management to exercise it for
every purpose permitted by law, and in particular to pursue the
goals mentioned in the resolution by the Annual General Meeting.
Treasury shares acquired on the basis of the authorisation,
with shareholders’ subscription rights disapplied, may continue
to be used for the purposes of listing on a stock exchange outside
Germany. In addition, the Board of Management remains author-
ised toacquire treasury shares using derivatives.
As part of the Share Matching Scheme, Deutsche Post
issued a total of ,, shares to executives in the current nan-
cial year. To this end, , shares were acquired on the market
for a total of million in the rst quarter of . e average
purchase price per share was .. A further , shares were
acquired for a total of million and an average purchase price
per share of . in the second and third quarter. Furthermore,
, shares that were required in addition, were bought for a pur-
chase price per share of . in the fourth quarter.
e treasury shares acquired to settle the tranche of the
Share Matching Scheme for executives due in (shares allo-
cated to participating executives) were purchased for a total price
of million. e average purchase price per share was ..
As at December , Deutsche Post held ,,
treasury shares.
. Disclosures on corporate capital
e equity ratio was . in nancial year (previous year:
. ). e company’s capital is monitored using the net gearing
ratio, which is dened as net debt divided by the total of equity and
net debt.
Corporate capital
m
2013 2014
Total financial liabilities 5,896 5,080
Less cash and cash equivalents –3,414 –2,978
Less current financial assets –821 –351
Less long-term deposits – 55 – 60
Less non-current derivative financial instruments –107 –192
Net debt 1,499 1,499
Plus total equity 10,034 9,580
Total capital 11,533 11,079
Net gearing ratio () 13.0 13.5
Capital reserves
An amount of million was transferred to the capital reserves
in the period up to December . Of this amount, mil-
lion was attributable to the Share Matching Scheme ( Decem-
ber : million), million to the Performance Share Plan
and million and million to the capital increases; Note .
Capital reserves
m
2013 2014
At January 2,254 2,269
Addition / issue of rights under Share Matching
Scheme
tranche 1 1
tranche 3 4
tranche 4 4
tranche 17 4
tranche 10 21
tranche 0 10
Total additions 35 44
Exercise of rights under Share Matching Scheme
tranche – matching shares 0–8
tranche – investment and incentive shares –20 0
tranche – investment and incentive shares 0 –23
Total exercised –20 –31
Total for Share Matching Scheme 15 13
Addition / issue of rights under Performance Share
Plan
tranche 0 3
Capital increases 0 54
Capital reserves at December 2,269 2,339
e exercise of the rights to shares under the and
tranches reduced the capital reserves by million (previous year:
million for the tranche) due to the issuance of treasury
shares in this amount to the executives.
On issue of the convertible bond on Deutsche Post shares,
the conversion right in the amount of million was recognised
in capital reserves; Note .
Other reserves
m 1 Jan. 2013
adjusted 1
2013
adjusted 1
2014
revaluation reserve 3 2 0
revaluation reserve –1 68 170
hedging reserve –7 37 –28
Currency translation reserve – 469 – 924 – 483
Other reserves – 474 – 817 –341
1 Note .
Deutsche Post Group — Annual Report
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