TomTom 2006 Annual Report Download - page 68

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66 TomTom Annual Report 2006
5. Legal reserves
2006 2005
(in thousands)
Legal reserves at 1 January 1,813 961
Internally generated intangible assets 612 794
Cumulative translation adjustment 379 58
Legal reserves at 31 December 2,804 1,813
Internally generated intangible assets 2,352 1,740
Cumulative translation adjustment 452 73
Total legal reserves 2,804 1,813
6. Stock compensation reserve
For details of the stock compensation reserve please
refer to note 18 in the consolidated annual accounts.
7. Off balance sheet commitments
The Company has issued several declarations of joint and
several liability for various Group companies in compliance
with Section 403, book 2 of the Dutch Civil Code.
Declarations were issued during the year for TomTom
International BV and TomTom Sales BV.
8. Statutory provision with respect
to appropriation of results
According to the Company’s Articles of Association,
the Company’s result is freely at the disposal of the
shareholders, provided that total shareholders’ equity
exceeds the called-up and paid-up capital of the Company,
increased by legal and statutory reserves.
9. Proposed appropriation of result
The Management Board proposes to add the net profit
in full to the retained earnings.
10.Auditor’s report
Reference is made to the auditor’s report on page 67.
Management Board
Harold Goddijn
Alexander Ribbink
Marina Wyatt
Supervisory Board
Andrew Browne
Guy Demuynck
Doug Dunn
Amsterdam,
22 February 2007
TomTom NV
Statutory Seat Amsterdam
Notes to the Company Financial Statements
Notes to the Company Financial Statements
Continued