Share Premium and Elimination of Authorised Capital, an emerging issue under IFRS

This report reviews a selection of companies that have issued shares but have placed share premium to distributable reserves rather than share premium account.

DSG International plc Period End 1 May 2010

DSG International plc Annual Report 2010
One-off gain arises from curtailing employee pension rights
UK retailer DSG International limits the pension rights of its UK employees, recognising a one-off £33.4 million curtailment gain that represents 29.5% of pre-tax profit, in a year which has seen a large rise in its defined benefit pension obligations.

Premium on share issue moved to distributable reserve
UK retailer DSG International allocates £245 million raised from shareholders to a distributable reserve, increasing retained earnings by almost 28%.

DSG International plc Period End 3 May 2008

DSG International Annual Report

Further loss of £341 million incurred in Italy
Having recognised last year a loss of £115 million on its Italian business, UK electronics retailer DSG International reports a further loss of £341 million on the business, contributing to a pre-tax loss of £193 million for the period.

DSG International plc Period End 28 April 2007

DSG International  Annual Report 2007
Changes to pension scheme and assumptions reduce pension deficit 

UK electronics retailer, DSG International recognises £4.7 million in the income statement and £18.8 million in equity arising from changes to scheme benefits and actuarial assumptions.