19 Equity

19.1 Share capital

The Company has an authorized capital of EUR 20,000 (2021/2022: EUR 20,000), which is divided into 800 shares of EUR 25 each (2021/2022: 800 shares of EUR 25 each). The issued share capital consists of 220 (2021/2022: 220) shares at a nominal value of EUR 25 each (2021/2022: EUR 25 each), representing a total nominal value of EUR 5,500 (2021/2022: EUR 5,500). All of the shares are fully paid up.

KPMG N.V. is obliged to distribute all earnings that constitute profits as contractual fees to Coöperatie KPMG U.A. or as dividend, except for the amount the Board of Management proposes to add to the reserves.

19.2 Reserves

The reserves contain the profits of previous years.

19.3 Appropriation of profit

The Group’s profit totals EUR 628 and the Company proposes to add this amount to the reserves.