22. Capital and reserves
air value reserve
ther legal reserves
aserve for own shares
millions of EUR 2009 2008
On issue as at 1 January
Issued for cash
On issue as at 31 December
As at 31 December 2009 the issued share capital comprised 489,974,594 ordinary shares (2008:489,974,594). The
ordinary shares have a par value of EUR 1.60. All issued shares are fully paid.
The Company's authorised capital amounts to EUR2.5 billion, comprising of 1,562,500,000 shares.
The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to
one vote per share at meetings of the Company. In respect of the Company's shares that are held by Heineken N.V.
(see next page), rights are suspended.
ae translation reserve comprises foreign currency differences arising from the translation of the financial
atements of foreign operations of the Group (excluding amounts attributable to minority interests) as well as
due changes of the hedging instruments in the net investment hedges. Heineken considers this a legal reserve.
ais reserve comprises the effective portion of the cumulative net change in the fair value of cash flow hedging
struments where the hedged transaction has not yet occurred. Heineken considers this a legal reserve.
lis reserve comprises the cumulative net change in the fair value of available-for-sale investments until the
vestment is derecognised or impaired. Heineken considers this a legal reserve.
aese reserves relate to the share of profit of joint ventures and associates over the distribution of which
eineken does not have control. The movement in these reserves reflects retained earnings of joint ventures
id associates minus dividends received. In case of a legal or other restriction which causes that retained
irnings of subsidiaries cannot be freely distributed, a legal reserve is recognised for the restricted part.
ie reserve for the Company's own shares comprises the cost of the Company's shares held by Heineken. As at
1 December 2009 Heineken held 1,251,201 of the Company's shares (2008:1,044,233).
Annual Report 2009 - Heineken N.V.