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STATEMENT OF CHANGES IN EQUITY

USD '000
Share
capital
Other
paid-in capital
Treasury shares
Retained earnings
Net unrealized gain reserve
Minority interest
Total
               
Shareholders' equity at 31.12.2003, NGAAP 50 691     18 255   3 099 72 045
Prior years' correction       (2 476)     (2 476)
Effect of transition to IFRS       10 356     10 356
Shareholders' equity at 01.01.2004 50 691 - - 26 135 - 3 099 79 925
Convertible bonds 5 034     (5 556)     (522)
Net result 2004       10 069   (122) 9 947
Dividends       (5 760)     (5 760)
Shareholders' equity at 31.12.2004 55 725 - - 24 888 - 2 977 83 590
Fair value derivative on convertible bond       (16 808)     (16 808)
Shareholders' equity at 01.01.2005 55 725 - - 8 080 - 2 977 66 782
Convertible bonds - conversion 3 651 8 417         12 068
Fair value adjustments         5 677   5 677
Aquisition treasury shares     (202) (471)     (673)
Net result 2005       19 440     19 440
Dividends       (17 443)   1 067 (16 376)
Shareholders' equity at 31.12.2005 59 376 8 417 (202) 9 606 5 677 4 044 86 918
Convertible bonds - conversion 3 716 10 259         13 975
Minority interest           787 787
Fair value adjustments             -
Net result 2006       9 683   953 10 636
Dividends       (1 301)     (1 301)
Shareholders' equity at 31.12.2006 63 092 18 676 (202) 17 988 5 677 5 784 111 015



 
 
I.M. Skaugen - Annual Report 2003