Reebok 2009 Annual Report Download - page 196

192 CONSOLIDATED FINANCIAL STATEMENTS Notes
The Invesco Inc., Toronto, Canada, informed the company by letter on March 27, 2009, pursuant
to § 21 section 1 WpHG, that on September 30, 2008, their voting interest in adidas AG had fallen
below the threshold of 3% and amounted to 2.97% of the voting rights (5,894,813 shares) on this
date. All of these voting rights are attributable to Invesco Inc. in accordance with § 22 section 1
sentence 1 number 6 in conjunction with § 22 section 1 sentence 2 WpHG.
The Invesco Canada Holdings Inc. (formerly AIM Canada Holdings Inc.), Toronto, Canada,
informed the company by letter on March 27, 2009, pursuant to § 21 section 1 WpHG, that on
September 30, 2008, their voting interest in adidas AG had fallen below the threshold of 3% and
amounted to 2.97% of the voting rights (5,894,813 shares) on this date. All of these voting rights
are attributable to the Invesco Canada Holdings Inc. in accordance with § 22 section 1 sentence 1
number 6 in conjunction with § 22 section 1 sentence 2 WpHG.
The Invesco Trimark Ltd (formerly AIM Funds Management Inc.), Toronto, Canada, informed
the company by letter on March 27, 2009, pursuant to § 21 section 1 WpHG, that on September
30, 2008, their voting interest in adidas AG had fallen below the threshold of 3% and amounted to
2.97% of the voting rights (5,894,813 shares) on this date. All of these voting rights are attributable
to Invesco Trimark Ltd in accordance with § 22 section 1 sentence 1 number 6 WpHG.
The notifications of voting rights of March 27, 2009 as listed above are the revisions of the
notifications dated October 2, 2008, which had not been disclosed due to concerns of the Federal
Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) regard-
ing formal requirements.
The UBS AG, Zurich, Switzerland, informed the company by letter on April 21, 2009, pursuant
to § 21 section 1 WpHG, that on April 15, 2009, their voting interest in adidas AG had exceeded the
threshold of 3% and amounted to 3.23% of the voting rights (6,248,659 shares) on this date. 0.39%
of these voting rights (749,197 shares) are attributable to UBS AG in accordance with § 22 section 1
sentence 1 number 1 WpHG.
The UBS AG, Zurich, Switzerland, informed the company by letter on April 23, 2009, pursuant
to § 21 section 1 WpHG, that on April 20, 2009, their voting interest in adidas AG had fallen below
the threshold of 3% and amounted to 0.82% of the voting rights (1,580,086 shares) on this date.
0.39% of these voting rights (758,034 shares) are attributable to UBS AG in accordance with § 22
section 1 sentence 1 number 1 WpHG.
The Euro Pacific Growth Fund, Los Angeles, USA, informed the company by letter on June
11, 2009, pursuant to § 21 section 1 WpHG, that on June 8, 2009, their voting interest in adidas AG
exceeded the threshold of 5% and amounted to 5.01% of the voting rights (9,696,414 shares) on
this date.
BlackRock Investment Management (UK) Limited, London, United Kingdom, informed the com-
pany by letter on December 7, 2009 pursuant to § 21 section 1 as well as § 24 WpHG that:
1) On December 1, 2009, the voting interest of BlackRock Financial Management, Inc., New
York, USA, in adidas AG exceeded the threshold of 3% and amounted to 4.74% of the voting rights
(9,921,962 shares) on this date. All of these voting rights are attributable to BlackRock Financial
Management, Inc. in accordance with § 22 section 1 sentence 1 number 6 in conjunction with § 22
section 1 sentence 2 WpHG.
2) On December 1, 2009, the voting interest of BlackRock Holdco 2, Inc., New York, USA, in
adidas AG exceeded the threshold of 3% and amounted to 4.74% of the voting rights (9,921,962
shares) on this date. All of these voting rights are attributable to BlackRock Holdco 2, Inc. in
accordance with § 22 section 1 sentence 1 number 6 in conjunction with § 22 section 1 sentence 2
WpHG.
3) On December 1, 2009, the voting interest of BlackRock, Inc., New York, USA, in adidas AG
exceeded the threshold of 3% and amounted to 4.93% of the voting rights (10,308,916 shares) on
this date. All of these voting rights are attributable to BlackRock, Inc. in accordance with § 22 sec-
tion 1 sentence 1 number 6 in conjunction with § 22 section 1 sentence 2 WpHG.
BlackRock, Inc., New York, USA, informed the company by letter on January 5, 2010, pursu-
ant to § 21 section 1 WpHG, that on December 9, 2009, their voting interest in adidas AG exceeded
the threshold of 5% and amounted to 5.03% of the voting rights (10,521,736 shares) on this date.
All of these voting rights are attributable to BlackRock, Inc. in accordance with § 22 section 1 sen-
tence 1 number 6 in conjunction with § 22 section 1 sentence 2 WpHG.
The BlackRock Inc., New York, USA, informed the company by letter on January 28, 2010,
pursuant to § 21 section 1 WpHG, that on January 25, 2010, its voting interest in adidas AG had
fallen below the threshold of 5% and amounted to 4.99% of the voting rights (10,458,560 shares) on
this date. All of these voting rights are attributable to BlackRock, Inc. in accordance with § 22 sec-
tion 1 sentence 1 number 6 in conjunction with § 22 section 1 sentence 2 WpHG.
The Bank of New York Mellon Corporation, New York, USA, informed the company by letter
on February 5, 2010 in accordance with § 21 section 1 sentence 1 WpHG that on February 3, 2010,
their voting interest in adidas AG exceeded the threshold of 3% and amounted to 2.99% of the vot-
ing rights (6,260,660 shares) on this date. All of these voting rights are attributable to the Bank of
New York Mellon Corporation in accordance with § 22 section 1 sentence 1 number 6 in conjunc-
tion with § 22 section 1 sentence 2 WpHG.
The Bank of New York Mellon Corporation, New York, USA, informed the company by letter
on February 12, 2010 in accordance with § 21 section 1 sentence 1 WpHG that on February 9, 2010,
their voting interest in adidas AG exceeded the threshold of 3% and amounted to 3.004% of the vot-
ing rights (6,284,824 shares) on this date. All of these voting rights are attributable to the Bank of
New York Mellon Corporation in accordance with § 22 section 1 sentence 1 number 6 in conjunc-
tion with § 22 section 1 sentence 2 WpHG.
Capital management Capital management
The Group’s policy is to maintain a strong capital base so as to maintain investor, creditor and
market confidence and to sustain future development of the business.
The Group seeks to maintain a balance between a higher return on equity that might be pos-
sible with higher levels of borrowings and the advantages and security afforded by a sound capital
position. Following the achievement of the medium-term goal of financial leverage below 50% in
2009, the Group aims to maintain net debt below two times EBITDA. Financial leverage is derived
by dividing net borrowings (short- and long-term borrowings less cash and cash equivalents as
well as short-term financial assets) in an amount of € 917 million by shareholders’ equity in an
amount of € 3,771 million. Earnings before interest, taxes, depreciation and amortisation (EBITDA)
amounted to € 780 million for the fiscal year ending December 31, 2009. The ratio between net
borrowings and EBITDA amounted to 1.2 for the fiscal year ending December 31, 2009.