TomTom 2015 Annual Report Download - page 99

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CONSOLIDATED FINANCIAL STATEMENTS
TOMTOM / ANNUAL REPORT AND ACCOUNTS 2015 / 98
SECTION 5: FINANCING, FINANCIAL
RISK MANAGEMENT AND FINANCIAL
INSTRUMENTS
This section includes notes related to financing items such as equity and borrowings as well as financial risk
management and financial instruments. Related items such as earnings per share calculation as well as financial
income and expenses, are included in this section.
24. SHAREHOLDER'S EQUITY
2015 2014
No. (€ in thousands) No. (€ in thousands)
AUTHORISED:
Ordinary shares 600,000,000 120,000 600,000,000 120,000
Preferred shares 300,000,000 60,000 300,000,000 60,000
TOTAL 900,000,000 180,000 900,000,000 180,000
ISSUED AND FULLY PAID:
Ordinary shares 230,495,981 46,099 223,569,822 44,714
In 2015, 6,926,159 shares were issued following the exercise of stock options (6,864,159) and the restricted stock units (62,000) by
employees (2014: 1,393,610).
Reserves are freely distributable except for €210.9 million of legal reserves (2014: €172.9 million). Note F. Other reserves in the
company financial statements provides an overview of the non-distributable reserves.
All shares have a par value of €0.20 per share (2014: €0.20 per share). Further information on the rights, restrictions and other
conditions attached to ordinary and preferred shares is provided in the Corporate Governance section in the annual report.
The Corporate Governance section of this annual report provides a detailed description regarding the use of Foundation Continuity
TomTom as a protective measure. Management is of the opinion that the call option as described in the Corporate Governance section
does not represent a significant value as meant in IAS 1, paragraph 31, due to the fact that the likelihood that the call option will be
exercised is remote. In the remote event that the call option is exercised, the preferred shares that are issued are intended to be
cancelled shortly after issuance (within 1 year period). The option is therefore not accounted for in the annual accounts, nor is any
additional information as meant in IAS 32 and 39 provided.
ACCOUNTING POLICY
SHARE CAPITAL
Ordinary shares are classified as share capital.
SHARE PREMIUM
The share premium represents the amount by which the fair value of the consideration received exceeds the nominal value of shares issued.
Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds.