Nabaltec_E_GB2016

88 NOTES TO THE CONSOLIDATED BAL ANCE SHEET S T N E M E T A T S L A I C N A N I F D E T A D I L O S N O C Conditional capital The capital stock was conditionally raised by up to EUR 4,000 thousand by resolution of the shareholders of 30 June 2016 (Conditional Capital 2016/I). The conditional capital serves exclusively to provide shares to holders of warrants and convertible bonds issued by the company based on the authorization of the shareholders of 30 June 2016. Capital reserve As of 31 December 2016, the capital reserve amounted to EUR 29,764 thousand (year be- fore: EUR 29,764 thousand). The capital reserve resulted largely from the issuance of 2,000,000 shares at a price of EUR 15.50 per share, with each share representing EUR 1.00 of the capital stock, so that a premium of EUR 14.50 was charged per share, for a total of EUR 29,000 thousand. The Management Board, with the Supervisory Board’s approval, is authorized by resolution of the shareholders of 30 June 2016 to issue convertible bonds and/or warrants made out to the bearer with a total value of up to EUR 150,000 thousand and with a term of no more than 15 years (“Convertible Bonds and/or Warrants”) through 31 May 2021 once or multi- ple times and to provide holders of convertible bonds with conversion rights for up to 4,000,000 bearer shares in the company as specified in the Terms of Warrants and Convertible Bonds (Terms of Bonds) which are to be defined by the Management Board with the approval of the Supervisory Board. Earnings reserves As of 31 December 2016, earnings reserves amounted to EUR 9,711 thousand (year before: EUR 9,711 thousand). These earnings reserves represent the effect of first-time application of the IFRS. The Management Board will propose a dividend payout in the amount of EUR 0.15 per share for Financial Year 2016. We refer to the consolidated statement of changes in equity regarding changes in earnings carry-forwards. Other changes in equity with no effect on profit and loss Differences arising from currency translation, changes in the market value of derivative financial instruments for which hedge accounting is used, actuarial gains and losses from pen- sion reserves and from corresponding deferred taxes are recognized separately in shareholders’ equity under “other changes in equity with no effect on profit and loss.” As of 31 December 2016, other changes in equity with no effect on profit and loss amounted to EUR –13,471 thou- sand (year before: EUR –9,026 thousand). Non-controlling shareholders As of 31 December 2016, non-controlling shareholders held shares in the capital of Nashtec LLC in the amount of EUR 562 thousand (year before: EUR 598 thousand). |||| Nabaltec AG | Annual Report 2016

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