4.9. Equity
4.9.1. Authorized and issued share capital
| 31 December 2016 | 31 December 2015 | |||
|---|---|---|---|---|
| Number of units (pc) | Equity (CZK th.) | Number of units (pc) | Equity (CZK th.) |
|
| Ordinary shares of CZK 10,000, fully paid | 50,000 | 500,000 | 50,000 | 500,000 |
| Share premium | 382,500 | 382,500 | ||
Company was creating statutory reserve fund in the amount of 20% of the issued share capital in accordance with the previous legislation No. 513/1991 Coll., on Accounting (balance sheet item A.V.). This reserve fund can be released based on decision of General Meeting in accordance with Articles of the Company. The release method is decided by General meeting.
4.9.2. Profit after taxation
The net profit for 2016 in the amount of CZK 480,868 thousand is proposed to be distributed* as follows:
| (CZK’000) | 31 December 2016 |
|---|---|
| Dividend paid | – |
| Transfer to retained earnings | 480,868 |
| Net profit/(loss) | 480,868 |
* proposed distribution of net profit was not approved by the shareholder as at the financial statements date
Allocation of 2015 profit is shown in the Statement of changes in equity.