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adidas-Salomon ANNUAL REPORT 2000
79
Notes to Consolidated Financial Statements
16. Other Non Current Liabilities
Other non current liabilities include mainly obligations under
finance leases (see also note 19). Liabilities falling due after
more than five years total c 5 million and c 5 million as at
December 31, 2000 and 1999, respectively.
17. Minority Interests
Minority interests are attributable to 12 subsidiaries and 11
subsidiaries as at December 31, 2000 and 1999, respectively
(see Attachment II to these notes).
These subsidiaries had been mainly set up together with former
independent distributors and licensees for the adidas brand.
Salomon & Taylor Made Co., Ltd., Tokyo (Japan), is a public
company, which is listed on the Tokyo Stock Exchange since
1995.
Minority interests evolved as follows in the years ended Decem-
ber 31, 2000 and 1999, respectively:
(euros in thousands) 2000 1999
Minority interests as at Jan. 1 63,425 38,374
Currency effect (1,505) 4,157
Changes in companies consolidated 500 –
Capital injections 344 3,796
Acquisition of minority interests 225 125
Shares sold to third parties 4,126 –
Share in net profit 25,327 17,524
Dividends (2,692) (551)
Minority interests as at Dec. 31 89,750 63,425
18. Shareholders’ Equity
The nominal capital amounts to c 116,093,952 and is divided
into 45,349,200 no-par-value shares.
By resolution of the Shareholders’ Meeting held on May 11,
2000, the shareholders of adidas-Salomon AG approved the
cancellation of the authorized capital pursuant to § 4 section 2
and § 4 section 3 of the Articles of Association as well as the
creation of the new authorized capital according to § 4 section 2
and § 4 section 3.
The corresponding changes to the Articles of Association were
entered into the Commercial Register on July 27, 2000.
By resolution of the Shareholders’ Meeting held on May 28,
1997 the shareholders approved the amendment of the autho-
rized capital pursuant to § 4 section 4 (authorized capital III).
An action of rescission was filed against this resolution.
The conversion into euros of the authorized capital pursuant to
§ 4 section 4, being still subject of the action of rescission,
was approved by the shareholders by resolution of the Share-
holders’ Meeting held on May 20, 1999.
The corresponding changes to the Articles of Association were
entered into the Commercial Register on October 10, 2000
after the court rejected the action of rescission.