The Separation took place by way of a special distribution in kind by Altice NV of its 67.2% interest in Altice USA to Altice NV shareholders out of Altice NV's share premium
In addition to using reserves of capital and retaining earnings, company's share premium
reserve will be used to plug the cash hole.
Shareholders Equity: Shareholders equity is the paid-up capital of the company, retained earnings, and statutory and all other reserves as well as share premium
The recent decision by Indian Overseas Bank (IOB) to set off operational losses against share premium
reserves - part of its capital reserves - instead of revenue reserves illustrates the difficulties faced by some undercapitalised banks as they try to avoid skipping coupon payments on loss-absorbing instruments.
The rights share will be issued at a price of 127 baisas, which include a share premium
of 25 baisas and an issue expense of 2 baisas, according to a disclosure posted on MSM website.
Furthermore, the extraordinary general meeting resolved to reduce the share premium
reserve pursuant to the balance sheet of the company as on 30 June 2017, of EUR 8,085,842, in its entirety.
Sources said Jain had helped Kumar obtain accommodation entries through long term capital gains, share capital, share premium
and unsecured loans.
The AGM resolved that out of the loss of EUR336,419,172.22 related to the financial periods ended on or before 31 December 2016 (the loss of the financial period ended on 31 December 2016 being EUR236,496,663.78), as shown in the financial statements of the company as per 31 December 2016, a total amount of EUR233,487,815.06 be covered by reducing the unrestricted equity reserve, the share premium
reserve, the reserve fund and the company's share capital.
The bank said that it has raised AED500m against issuance of 500 million new ordinary shares and AED175m representing share premium
. The proceeds of the rights issue will be used to strengthen the capital base and to comply with the capital adequacy requirements, to meet the business needs of the bank's customers and to generate cash flows, the statement added.
While the board found the USD 3.00 per share premium
offered in the Origin Proposal, taken by itself, to be attractive, after engaging with Origin, the board found the risks to initiating and consummating a potential transaction with Origin outweighed the potential benefit of a higher offer from Origin.
CMS should also find a way to share premium
tax credit payment data with the IRS throughout the year, to help the IRS verify what consumers say about the subsidy payments on their 1095-A forms, officials said.
The meeting was called after the bank's board of directors in August proposed to write off accumulated losses of BD27,397,310 as of June 30, by adjusting BD11,807,778 against statutory reserve, BD1,000,000 against general reserve, BD29,754 against share premium
and BD14,559,778 against paid-up share capital, thereby reducing the bank's paid-up share capital by 15.34 per cent (reduction of two shares for each 13 shares approximately) from BD94,907,023 to BD80,347,245.