AEG 21604 G Bedienungsanleitung PDF herunterladen (Seite 389)

100

101

F-148

25. Provisions (continued)

Restructuring

During the year ended December 31, 2009, charges of €2.5 million were taken in France to cover the costs asso-

ciated with restructuring part of the operations. The restructuring costs relate mainly to employee termination

benefits.

26. Warrants

The change in fair value of the warrants is recorded through the income statement as financial income or cost.

The movement of the outstanding warrants can be detailed as follows:

In thousands of warrants

Sponsor war-

rants

Public War-

rant Total

Issued at May 21, 2008 ........................................

...........

- - -

Issued 25,000,000 units (including warrants) .....

...........

25,000 25,000

Issued sponsor warrants .......................................

...........

6,000 6,000

Issued at January 1, 2009 .....................................

...........

6,000 25,000 31,000

Exercise of warrants.............................................

...........

- (25) (25)

Issued at December 31, 2009 ...............................

...........

6,000 24,975 30,975

Each warrant entitles the holder to purchase one ordinary public share at a price of €7.50. The warrants are

traded on Euronext Amsterdam under the symbol GAL1W. At the reporting date the market price of the warrant

was €1.00 per warrant (2008: €0.51 per warrants). The warrants expire on 21 July 2012.

During the year 25,500 warrants were exercised for cash. In aggregate the warrant holders paid the Company

€191,250 in exchange for 25,500 ordinary public shares. At the same time €25,500 was released from the war-

rant liability to share premium.

On 26 June 2008, the related party LCP1 Limited purchased 6,000,000 warrants at a price of €1 per warrant (the

"Sponsor Warrants").

27. Trade and other payables

In thousands of Euro 2009 2008

Accounts payable..................................................................

...........................

36,957 149

Accrued salaries and wages .................................................

...........................

13,318 -

Accrued taxes and vat payable..............................................

...........................

1,601 -

Accrued Social security charges ...........................................

...........................

1,656 -

Others ...................................................................................

...........................

6,327 -

59,859 149

The Group's exposure to currency and liquidity risk related to trade and other payables is disclosed in note 31.

28. Deferred income

Deferred income relates mainly to customer deposits and advances of €32.1 million in connection with projects

in progress.

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