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Deutsche Post World Net Annual Report 2007
34 Non-current assets held for sale and liabilities
associated with non-current assets held for sale
e amounts reported under these items relate mainly to Deutsche
Postbank AG’s planned sale of the credit card and sales nancing busi-
ness of BHW Bank AG to Landesbank Berlin.
€m Assets Liabilities
2006 2007 2006 2007
Deutsche Postbank Group –
BHW Bank’s credit card and
sales fi nancing business 0 565 0 44
DHL Express (France) SAS –
land/buildings 0 26 0 0
Deutsche Post AG –
real estate 0 18 0 0
Other 0 6 0 0
Vfw AG, Germany 39 0 17 0
SCM Supply Chain Manage-
ment Inc., Canada – land 16 0 0 0
DHL Express Denmark A/S,
Denmark – buildings 1 0 0 0
Non-current assets held
for sale and liabilities
associated with non-
current assets held for sale 56 615 17 44
e sale of the credit card and sales nancing business of BHW Bank AG
relates to the items receivables and other securities from nancial serv ices
– of which loans and advances to customers accounted for million
and the allowance for losses on loans and advances for – million –
and liabilities from nancial services (amounts due to customers).
35 Issued capital
35.1 Share capital
On January , . of the exchangeable bond on Deutsche
Post AG shares issued by KfW in December was converted. e
bond was issued in the amount of . billion and with a maturity date
of January . e exchange placed approximately . million of
the shares held by KfW Bankengruppe (KfW) – formerly Kreditanstalt
für Wiederau au – onto the market. e conversion price per share
was .. e transaction reduced the number of Deutsche Post AG
shares held by KfW to approximately . million shares. is gure
equates to . of Deutsche Post AG’s share capital. e transaction also
increased the percentage of free- oating shares to ..
Number of shares 2006 2007
KfW 410,522,634 368,277,358
Free fl oat 791,797,226 839,193,240
Share capital as at 31 December 1,202,319,860 1,207,470,598
35.2 Issued capital
e issued capital increased by . million in nancial year from
,. million to ,. million. It is now composed of ,,,
no-par value registered shares (ordinary shares), with each individual
share having a notional interest of in the share capital. e increase
in issued capital is attributable to the servicing of stock options from the
Stock Option Plans and .
€2006 2007
As at 1 January 1,192,633,739,00 1,202,319,860,00
Exercise of options from 2002, 2003
and 2004 SOP tranches – contingent
capital 9,686,121,00 5,150,738,00
As at 31 December 1,202,319,860,00 1,207,470,598,00
Capital as at
31 December 2007 Amount (€) Purpose
2005 authorised capital 174,796,228.00 To increase share
capital against non-cash
contributions
(until 17 May 2010)
Contingent Capital II 13,184,482.00 Executive Stock Option Plan
2003 (until 31 July 2005)
Contingent Capital III 56,000,000.00 Exercise of option/
conversion rights
(until 5 May 2012)
In accordance with the resolution by the Annual General Meeting on
May , the company’s share capital has been contingently increased
by up to a further million through the issue of up to ,, new,
no-par value registered shares (Contingent Capital III). is resolution
supersedes the contingent capital resolution of May . Contingent
Capital III was entered in the commercial register on May (ad-
justed on May ). Its purpose is to service warrant or conversion
rights and obligations from bonds with warrants or convertible bonds
and income bonds or a combination of these instruments, which may
be issued or guaranteed by the company up to May . e aggregate
principal amount of the instruments is billion.
35.3 Authorisation to acquire own shares
By way of a resolution adopted by the Annual General Meeting on May
, the company is authorised to acquire, until October , own
shares amounting to up to a total of of the share capital existing at
the date the resolution is adopted. e authorisation permits the Board
of Management to exercise it for every purpose authorised by law, par-
ticularly to pursue the goals mentioned in the resolution of the Annual
General Meeting. Deutsche Post AG did not hold any own shares on
December .