Movements in carrying amount of share capital and treasury shares are as follows:
The Group Issued
Treasury In millions
share capital shares
2011 Balance at 1 January 2011
8,780 84
Issue of shares pursuant to Scrip Dividend Scheme 549
–
Draw-down of reserves upon vesting of performance shares –
45
Issue of shares upon exercise of share options 19
–
Reclassification of reserves upon exercise of share options 2
–
Purchase of treasury shares –
115
Balance at 31 December 2011 9,350
154 2010
Balance at 1 January 2010 8,435
114 Issue of shares pursuant to Scrip Dividend Scheme
327 –
Draw-down of reserves upon vesting of performance shares –
30 Issue of shares upon exercise of share options
16 –
Reclassification of reserves upon exercise of share options 2
– Balance at 31 December 2010
8,780 84
As at 31 December 2011, the number of treasury shares held by the Group is 11,320,681 2010: 5,762,894, which is 0.46 2010: 0.24 of the total number of issued shares excluding treasury shares.
Movements in the number of treasury shares are as follows:
The Group Number of shares
2011 2010
Balance at 1 January 5,762,894
7,784,454 Purchase of treasury shares
8,644,000 –
Vesting of performance shares 3,086,213
2,021,560 Balance at 31 December
11,320,681 5,762,894
36 OTHER RESERVES AND REVENUE RESERVES
36.1 Other reserves
The Group The Company
In millions 2011
2010 2011
2010
Available-for-sale revaluation reserves 411
387 –
– Cash flow hedge reserves
16 –
– –
General reserves 2,453
2,453 –
– Capital reserves
130 106
– –
Share option and share plan reserves 86
79 86
79 Others
4,271 4,271
– –
Total 7,075
7,084 86
79
115 DBS Annual Report 2011
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2011
Movements in other reserves during the year are as follows:
The Group Available-
Share for-sale
Cash flow option and
revaluation hedge
General Capital
share plan Other
In millions reserves
reserves reserves
a
reserves
b
reserves reserves
c
Total
2011 Balance at 1 January 2011
387 –
2,453 106
79 4,271
7,084
Net exchange translation adjustments –
– –
19 –
– 19
Share of associates’ reserves 4
– –
5 –
– 1
Cost of share-based payments –
– –
– 54
– 54
Reclassification of reserves upon exercise of share options
– –
– –
2 –
2
Draw-down of reserves upon vesting of performance shares
– –
– –
45 –
45
Available-for-sale financial assets and others:
– net valuation taken to equity 416
18 –
– –
– 398
– transferred to income statement on sale 425
– –
– –
– 425
– tax on items taken directly to or transferred from equity
29 2
– –
– –
31
Balance at 31 December 2011 411
16 2,453
130 86
4,271 7,075
2010 Balance at 1 January 2010
132 –
2,453 48
71 4,271
6,879 Net exchange translation adjustments
– –
– 70
– –
70 Share of associates’ reserves
– –
– 12
– –
12 Cost of share-based payments
– –
– –
40 –
40 Reclassification of reserves upon
exercise of share options –
– –
– 2
– 2
Draw-down of reserves upon vesting of performance shares
– –
– –
30 –
30 Available-for-sale financial assets:
– net valuation taken to equity 598
– –
– –
– 598
– transferred to income statement on sale 315 –
– –
– –
315 – tax on items taken directly to or
transferred from equity 28
– –
– –
– 28
Balance at 31 December 2010 387
– 2,453
106 79
4,271 7,084
a General reserves are maintained in accordance with the provisions of applicable laws and regulations. These reserves are non distributable unless otherwise
approved by the relevant authorities. Under the Banking Reserve Fund Transitional Provision regulations 2007, which came into effect on 11 June 2007, the Bank may distribute or utilise its statutory reserves provided that the amount distributed or utilised for each financial year does not exceed 20 of the
reserves as at 30 March 2007 b Capital reserves include net exchange translation adjustments arising from translation differences on net investments in foreign subsidiaries, joint ventures,
associates and branches, and the related foreign currency financial instruments designated as a hedge c Other reserves relate to the share premium of the Bank prior to the restructuring of the Bank under a financial services holding company, DBSH, pursuant to
a scheme of arrangement under Section 210 of the Singapore Companies Act on 26 June 1999
116
The Company In millions
Share option and share plan reserves
2011 Balance at 1 January 2011
79
Cost of share-based payments 54
Reclassification of reserves upon exercise of share options 2
Draw-down of reserves upon vesting of performance shares 45
Balance at 31 December 2011 86
2010 Balance at 1 January 2010
71 Cost of share-based payments
40 Reclassification of reserves upon exercise of share options
2 Draw-down of reserves upon vesting of performance shares
30 Balance at 31 December 2010
79
36.2 Revenue reserves
