Consolidated Financial Statements of the F.I.L.A. Group
Separate Financial Statements of F.I.L.A. S.p.A.
203
Reference should be made to the “Directors’ Report - Financial Overview” for comments on the Net
Financial Position of F.I.L.A. S.p.A.
We report the absence of balances concerning related parties both for 2016 and 2015.
Note 11 - Other Current Assets
The account, totalling Euro 117 thousand, includes the receivable from the subsidiary FILA Hellas
S.A. (Greece) against dividends approved and not received at December 31, 2016.
Note 12 - Share Capital and Equity
Share Capital
The share capital, fully-paid in, amounts to Euro 37,170,830.00 and comprises 41,232,296 shares:
-
34,665,788 ordinary shares, without nominal value;
-
6,566,508 class B shares, without nominal value, which attribute 3 votes exercisable at the
Shareholders’ Meeting (ordinary and extraordinary) of F.I.L.A. S.p.A.;
The breakdown of the share capital of F.I.L.A. S.p.A. is illustrated below.
No. of Shares
% of Share Capital
Listing
Ordinary shares
34,665,788
84.07%
MTA - STAR Segment
Class B Shares (multiple votes)
6,566,508
15.93%
Non-listed
The availability and distributability of shareholders’ equity is outlined in the following table:
Euro thousands
Equity
Accounts
Balance at
December 31, 2016
Possibility of
Utilisation
Quota
Available
cover losses
other reasons
Share capital
37,171
-
-
-
Capital Reserves:
Legal Reserve
7,434
B
7,434
-
-
Share Premium Reserve
65,348
A, B, C
50,296
(41,599)
(7,434)
IAS 19 Reserve
(311)
-
-
-
Other Reserves
22,832
A, B, C
22,832
-
(3,711)
Retained Earnings
17,940
A, B, C
17,940
-
-
Total
150,414
98,502
(41,599)
(11,145)
Key:
A
- for share capital increase
B
- to cover losses
C
- for distribution to shareholders
Note 12.A ORIGIN, POSSIBILITY FOR UTILISATION AND DISTRIBUTION OF EQUITY
Summary of Utilisations in Last 3 Years
(2013-2015)
Consolidated Financial Statements of the F.I.L.A. Group
Separate Financial Statements of F.I.L.A. S.p.A.
204
The “Quota Available” presents the distributable equity reserves and the related restrictions,
including
the restriction on the distribution of the share premium reserve related to the revaluation of the
investment held in the company Writefine Products PVT Ltd (Euro 15,052 thousand), in accordance
with Article 6, paragraph 1, letter a) of Legislative Decree No. 38 of February 28, 2015, following the
purchase of the majority shareholding and recorded under financial income in 2015.
In relation to utilisations, in addition, we report the presence in the “Other Reserves” of reserves in
suspension of taxes for Euro 3,885 thousand at December 31, 2016 not released.
Share Premium Reserve
The account at December 31, 2016 amounts to Euro 65,348 thousand (Euro 109,879 thousand at
December 31, 2015), decreasing Euro 44,530 thousand.
The change related to the application of the Shareholders’ Meeting of April 29, 2016 motion
concerning:
the allocation of a portion of the share premium reserve for Euro 49,033 thousand in coverage
of the 2015 loss for Euro 41,086 thousand, in coverage of residual prior year losses to
December 31, 2015 for Euro 513 thousand and the full reconstitution of the legal reserve for
Euro 7,434 thousand;
on January 4, 2016, the period for the exercise of the “F.I.L.A. S.p.A. Market Warrants”
concluded. Overall, 8,153,609 Market Warrants were exercised between December 1, 2015
and January 4, 2016 (“Deadline” as communicated by the Issuer on December 1, 2015)
against the subscription of 2,201,454 ordinary shares. Against the above subscription, the
liability at December 31, 2015 was released with a positive effect on the Equity reserves of
Euro 4,502 thousand.
Other Reserves
The account at December 31, 2016 amounts to Euro 22,832 thousand (Euro 26,081 thousand at
December 31, 2015), decreasing Euro 5,247 thousand.
This related to the application of the Shareholders’ Meeting of April 29, 2016 motion governing the
distribution of part of the other reserves of the company, other than those in suspension of taxes, for a
total of Euro 3,711
thousand for dividends, in addition to the allocation of part of the same reserve for
the accounting treatment related to derivative hedging instruments for Euro 462 thousand (“cash flow
hedge”). For further information, reference should be made to “Note 3 - Financial Assets”.