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CONSOLIDATED FINANCIAL STATEMENTS
Impairment losses in the year regarding other current assets are broken down as follows:
15. SHARE CAPITAL
On 31 December 2011, fully subscribed and paid up share capital was represented by 20,000,000
shares to the bearer with a par value of 1 euro each.
In the year 2011 the group did not acquired nor sold any own shares. This shares are subordinated
to the policy stipulated for own shares which specifies that the respective voting rights are suspended
whilst the shares are held by the group, although the group may sell these shares.
At the end of the year the company held 2,000,000 own shares acquired for 11,179,644 euros.
The group’s non-available reserves reached 15,179,645 euros and refer to mandatory reserves
(4,00,001 euros) and other reserves referring to own shares held by the group (11,179,644 euros).
In the years ending on 31 December 2011 and 2010, the minority interests were as follows:
Dec/11
Dec/10
Ibersande, S.A.
4,233,253
3,861,147
IBR Imobiliária, S.A.
216,738
1,009,625
4,449,991
4,870,772
* in the year 2011, a correction was made in which the debts and their adjustments were cancelled by both headings and overblown.
Starting
balance
Cancellation Reclassification Losses in
the Year
Impairment
reversion
Closing
balance
Clients c/ a
421,826
-
212,099 242,543 -14,450 862,019
Other debtors
256,203 -126,902
67,185
4,282
-
200,768
678,030 -126,902
279,284 246,825 -14,450 1,062,787
*
*