ING Direct 2008 Annual Report Download - page 244

2.2 Parent company annual accounts
Notes to the parent company balance sheet of ING Group (continued)
Changes in issued share capital
Ordinary shares
(par value EUR 0.24)
Number
x1,000 Amount
Issued share capital as at 31 December 2006 2,205,093 530
Issue of shares 5,569 1
Exercise of B warrants 15,783 3
Issued share capital as at 31 December 2007 2,226,445 534
Issue of shares 1,848
Buy-back of shares –183,158 –44
Exercise of B warrants 18,013 5
Issued share capital as at 31 December 2008 2,063,148 495
Changes in other reserves and unappropriated result
Retained
earnings
Treasury
shares
Other
reserves
Total
Other
reserves
Unappro-
priated
result Total
2008
Opening balance 17,367 –3,740 –36 13,591 9,241 22,832
Result for the year –729 –729
Unrealised revaluations after taxation 324 324 324
Changes in treasury shares –2,030 –2,030 –2,030
Dividend –3,600 –3,600
Transfer to share of associates reserve 582 582 582
Transfer to retained earnings 5,641 5,641 –5,641
Employee stock option and share plans –76 –76 –76
Issuance costs incurred –20 –20 –20
Cancellation of shares 4,904 –4,860 44 44
Closing balance 23,838 –866 –4,916 18,056 –729 17,327
Changes in other reserves and unappropriated result
Retained
earnings
Treasury
shares
Other
reserves
Total Other
reserves
Unappro-
priated
result Total
2007
Opening balance 12,591 –1,436 –37 11,118 7,692 18,810
Result for the year 9,241 9,241
Unrealised revaluations after taxation 1 1 1
Changes in treasury shares –2,304 –2,304 –2,304
Dividend –2,999 –2,999
Transfer to share of associates reserve –174 –174 –174
Transfer to retained earnings 4,693 4,693 –4,693
Employee stock option and share plans 104 104 104
Other 153 153 153
Closing balance 17,367 –3,740 –36 13,591 9,241 22,832
As at 31 December 2008, the Share of associates reserve included an amount of EUR 566 million (2007: EUR 566 million) related to
Regio Bank N.V. (formerly Stichting Regio Bank) that cannot be freely distributed.
Positive components of the Share of associates reserve and Currency translation reserve cannot be freely distributed. The reserve for cash
flow hedges is included in the Share of associates reserve on a net basis. Retained earnings can be freely distributed, except for an
amount equal to the negative balance in each of the components of the Currency translation reserve and Share of associates reserve.
Unrealised gains and losses on derivatives, other than those used in cash flow hedges, are presented in the profit and loss account and
are therefore part of Retained earnings and are not included in Share of associates reserve.
ING Group Annual Report 2008
242