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Share Capital and reserves | 12 Months Ended
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Dec. 31, 2018
Text block [abstract] |
Share Capital and reserves |
17 | Share Capital and reserves
As at December 31, 2018, 2017 and January 1, 2017 the equity attributable to owners of the Company is analysed as follows:
|  | 31/12/18 |  |  | 31/12/17 |  |  | 01/01/17 |
Share capital |  |  | 54,853 |  |  |  | 54,853 |  |  |  | 54,853 |
Reserves |  |  | 17,198 |  |  |  | 16,398 |  |  |  | 24,065 |
Retained earnings |  |  | 64,496 |  |  |  | 31,244 |  |  |  | 61,636 |
Total |  |  | 136,547 |  |  |  | 102,495 |  |  |  | 140,554 |
As at December 31, 2018 and 2017, the Company’s share capital, which is totally authorized and issued, is composed of 54,853,045 ordinary shares with par value of Euro 1 each, for a total of 54,853. Ordinary shareholders have the right to receive dividends, as approved by shareholders’ meetings, and to express one vote per each share owned. Share capital is owned, as at December 31, 2018 and 2017, as follows:
|  | 31/12/18 |  |  | 31/12/17 |  |  | 01/01/17 |
Mr. Pasquale Natuzzi |  |  | 56.5 | % |  |  | 56.5 | % |  |  | 56.5 | %
Mrs. Anna Maria Natuzzi |  |  | 2.6 | % |  |  | 2.6 | % |  |  | 2.6 | %
Mrs. Annunziata Natuzzi |  |  | 2.5 | % |  |  | 2.5 | % |  |  | 2.5 | %
Other investors |  |  | 38.4 | % |  |  | 38.4 | % |  |  | 38.4 | %
Total |  |  | 100.0 | % |  |  | 100.0 | % |  |  | 100.0 | %
An analysis of “Reserves” is as follows:
|  | 31/12/18 |  |  | 31/12/17 |  |  | 01/01/17 |
Legal reserve |  |  | 10,971 |  |  |  | 10,971 |  |  |  | 10,971 |
Majority shareholder capital contribution |  |  | 488 |  |  |  | 488 |  |  |  | 488 |
Foreign operations translation reserve |  |  | 5,282 |  |  |  | 5,055 |  |  |  | 12,606 |
Remeasurement of defined benefit plan |  |  | 457 |  |  |  | (116 | ) |  |  | — |
Total |  |  | 17,198 |  |  |  | 16,398 |  |  |  | 24,065 |
The “Legal reserve” is connected to the requirements of the Italian law, which provide that 5% of net income of the parent company is retained as a legal reserve, until such reserve is 20% of the issued share capital of each respective company. The legal reserve may be utilized to offset losses; any portion which exceeds 20% of the issued share capital is distributable as dividends. The legal reserve totaled 10,971 as at December 31, 2018, 2017 and January 1, 2017. The “Majority shareholder capital contribution” is one of the parent company’s reserves, which is restricted for capital grants received. The “Foreign operations translation reserve” relates to the translation of foreign subsidiaries’ financial statements for those subsidiaries which have assessed their functional currency being different from Euro. The “remeasurement of defined benefit plan” refers to the calculation of the present value of the employees’ leaving entitlement at each reporting date, in compliance with applicable regulations and adjusted to take into account actuarial gains or losses. In particular, such actuarial gains or losses are reported in OCI (see note 4 (q)). The disaggregation of changes of OCI by each type of reserve in equity is shown in the tables below. Year ended December 31, 2018
|  | Foreign operations translation reserve |  |  | Remeasurement of defined benefit plan |  |  | Total |
Exchange difference on translation of foreign operations |  |  | 497 |  |  |  | — |  |  |  | 497 |
Share of OCI of equity-method investees |  |  | (246 | ) |  |  | — |  |  |  | (246 | )
Actuarial gains on employees’ leaving entitlement |  |  | — |  |  |  | 573 |  |  |  | 573 |
Total |  |  | 251 |  |  |  | 573 |  |  |  | 824 |
Year ended December 31, 2017
|  | Foreign operations translation reserve |  |  | Remeasurement of defined benefit plan |  |  | Total |
Exchange difference on translation of foreign operations |  |  | (7,778 | ) |  |  | — |  |  |  | (7,778 | )
Actuarial gains on employees’ leaving entitlement |  |  | — |  |  |  | (116 | ) |  |  | (116 | )
Total |  |  | (7,778 | ) |  |  | (116 | ) |  |  | (7,894 | )

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- Definition The entire disclosure for share capital, reserves and other equity interest. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2018-01-01 -Paragraph 79 -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2018-03-01&anchor=para_79&doctype=Standard -URIDate 2018-03-16 + Details
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- Definition Text block [abstract] + References No definition available. + Details
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