2012 2011
€k €k
Residual claim from settlement 799 799
Payables due to network operators 477 377
Security deposits 59 11
Other 2,124 1,230
3,459 2,417
The Other current assets include primarily receivables from intermediary transac-tions.
17. Equity
The Company's share capital in the amount of €58,507,916.50 before the repurchase of stock is distributed in 53,189,015 no-par shares issued to the bearer with a propor-tionate share in the share capital of €1.10.
The Annual General Meeting of 25 May 2012 adopted a resolution to distribute a dividend of €0.70 for each and every share entitled to receive a dividend. The num-ber of shares issued at the point in time of the Annual General Meeting totalled 51,662,232. The distribution consequently amounted to a total of €36,164k.
Management Board and Supervisory Board will propose a dividend of €1.30 for each share entitled to dividends to the Annual General Meeting of the current year.
Consolidated Notes
Treasury stock
The Annual General Meeting on 28 May 2010 adopted a resolution authorising the Drillisch AG Management Board to acquire treasury stock totalling up to 10% of the share capital at the time of the Annual General Meeting 2010 (5,318,901 shares) on or before 27 May 2015.
In fiscal year 2012, this repurchase right was exercised and 3,195,910 own shares were purchased on the stock exchange at an average price of €9.97, corresponding to about 6% of the Drillisch AG share capital. €1.10 of the purchase price per share was attributed to subscribed capital. The surplus amount was deducted from the capital surplus. Per 31 December 2012, Drillisch AG held 4,482,501 own shares repre-senting about 8.43% of the share capital.
The acquisition of treasury stock serves the purpose of using this stock for the finan-cing of possible acquisitions of companies or parts of companies, of holdings in com-panies or of other assets or of activities related to corporate mergers. Nor is a later redemption or resale of these shares to third parties against cash payment excluded.
Capital surplus
The capital surplus contains the premium over the nominal amount from the issue of shares by Drillisch AG. The amount required for the purchase of treasury stock in excess of the par value of €1.10 was deducted from the capital surplus.
Earnings reserves
The earnings reserves contain the profits realised in the past by the companies in-cluded in the consolidated annual accounts which were not distributed or carried forward to a new account from a Group perspective.
Non-controlling shareholders
The item of non-controlling shareholders is related to third-party shares at eteleon e-solutions AG up to the time of the transfer of the shares to Drillisch AG on 16 Au-gust 2011.
Approved capital
The Annual General Meeting of 30 May 2008 authorised the Management Board, sub-ject to the approval of the Supervisory Board, to increase the Company's share capital by as much as €29,253,957.70 by a single or multiple issue of new shares against cash contributions and/or contributions in kind before the lapse of 29 May 2013 (approved capital). In the event of cash contributions, the new shares may also be taken over by one or more banks, subject to the obligation to offer them for purchase to the share-holders (indirect subscription right). On principle, a subscription right is to be granted to the shareholders. However, the Management Board is authorised, subject to the approval of the Supervisory Board, to exclude shareholders' subscription rights
Consolidated Notes
¨so that fractional amounts are excluded from the subscription right;
¨if the capital increase is achieved by cash contributions and the issue price of the new shares is not significantly lower than that of the equivalent shares already traded on the exchange at the time of the final determination of the issue pri-ce by the Management Board. The number of shares issued subject to exclusion of the subscription pursuant to Section 186 (3), fourth sentence AktG (German Company Law) may not exceed 10% of the share capital, neither at the point in time at which the authorisation becomes effective nor at the point in time that it is exercised. Any shares which have been issued or must be issued to satisfy subscription rights from options or convertible bonds, provided that the deben-ture bonds have been issued during the term of this authorisation subject to ap-plication mutatis mutandis of Section 186 (3) fourth sentence AktG and excluding the subscription right, must be included in this figure. Furthermore, any shares which are issued or sold, subject to the exclusion of a subscription right, during the term of this authorisation on the basis of an authorisation for the use of tre-asury stock in accordance with Section 71 (1) (8) and Section 186 (3) (4) AktG must be included in this figure;
¨If the capital increase against contributions in kind is carried out for the purpose of providing shares within the framework of corporate mergers or of acquiring companies or parts of companies, holdings in companies or other assets;
¨so that new shares up to a proportionate amount of the share capital totalling
€2,925,395.00 may be issued as staff shares to employees of the Company or of affiliated companies within the sense of Section 15 et seqq. AktG.
Furthermore, the Management Board is authorised, subject to the approval of the Supervisory Board, to determine the further content of the stock rights and the terms and conditions of the issue of the shares. The Supervisory Board is authorised to amend the current version of the company charter in accordance with the specific utilisation of the approved capital or after the expiration of the authorisation.