Volvo 1999 Annual Report Download - page 92

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Total
Restricted equity Unrestricted shareholders’
Share capital Premium fund Legal reserve equity equity
December 31, 1996 2,318 – 7,241 18,125 27,684
Cash dividend – – – (1,993) (1,993)
New issue of shares 3 113 – – 116
Redemption of AB Volvo shares (113) – – (5,694) (5,807)
Bonus issue of shares 441 (113) – (328) –
Net income 1997 – – – 18,049 18,049
December 31, 1997 2,649 – 7,241 28,159 38,049
Cash dividend – – – (2,208) (2,208)
Net income 1998 – – – 24,044 24,044
December 31, 1998 2,649 – 7,241 49,995 59,885
Cash dividend – – – (2,649) (2,649)
Net income 1999 – – – 18,547 18,547
December 31, 1999 2,649 – 7,241 65,893 75,783
The distribution of share capital by class of shares is shown in Note 21 to the consolidated financial statements, on
pages 69-70.
Shareholders' equity Note 13
90
Parent Com pany AB Volvo
Shares and participations in non-Group
companies
Shares in Scania AB were acquired during the year for a
total of 23,023, which corresponds to 43.5% of share
capital and 28.6% of voting rights.
5% of the share capital and voting rights in Mitsubishi
Motors Corporation was purchased for 2,343.
Newly issued shares in Henlys Group Plc were sub-
scribed for a value of 149.
Participations in the Blue Chip Jet HB were written
down by 53, which correspond to the share of the year’s
income.
Share capital was increased by 5 in the newly formed
company Volvo Trademark Holding AB.
Holdings in NLK Näringslivskredit AB were divested.
1998: Shares in Henlys Group Plc were acquired for
376 and in Deutz AG for 670. Participations in Blue Chip
Jet HB were purchased from Pharmacia & Upjohn for 3
and 76 in capital contributions that increased book value
were made. The participations were written down by 45.
The shares in OM Stockholm Exchange were sold.
1997: Bilia AB shares with a book value of 3 were
sold in connection with the exercise of call options.
Shares of Renault SA carried on the books at 6,080
were sold.
Participations in the newly formed partnership, Blue
Chip Jet HB, were subscribed for 138 (of which 58, in
the form of an aircraft) and written down by 7.
The holding in Euroventures BV was reduced by 4 in
connection with the reduction in the company’s share
capital. Within the Group, shares were sold with a total
book value of 32.
Shares of Ultralux AB were purchased for 2.
Participations in two tenant-owners associations were
acquired for 12.
1997 1998 1999
Tax receivables 13 – 41
Accounts receivable 14 5 62
Prepaid expenses and accrued income 27 54 176
Other receivables 3 9 8
Total 57 68 287
The reserve for doubtful receivables amounted to 5 (6: -) at the end of the year.
Other short-term receivables Note 12