ADT 2010 Annual Report Download - page 111

• the court procedures and the service of documents leading to the judgment were in accordance
with the due process of law; and
• no proceeding involving the same position and the same subject matter was first brought in
Switzerland, or adjudicated in Switzerland, or that it was earlier adjudicated in a third state and
this decision is recognizable in Switzerland.
As a result of our change of domicile from Bermuda to Switzerland and the increase in the par value of
our shares, we may have less flexibility with respect to certain aspects of capital management.
In connection with our change of domicile from Bermuda to Switzerland, we significantly increased
the par value of our shares. Currently the par value of our shares is CHF 7.16 (or approximately $7.41
based on the exchange rate in effect on November 8, 2010). Under Swiss law, we generally may not
issue registered shares for an amount below par value. As of November 8, 2010 the closing price of our
ordinary shares on the NYSE was $39.11. In the event there is a need to raise common equity capital
at a time when the trading price of our registered shares is below our par value, we would need to
obtain approval of our shareholders to decrease the par value of our registered shares. We cannot
assure you that we would be able to obtain such shareholder approval in a timely manner. Obtaining
shareholder approval would require filing a preliminary proxy statement with the SEC and convening a
meeting of shareholders which would delay any capital raising plans. If we were to receive shareholder
approval to reduce the par value of our registered shares, the reduction would decrease our ability to
pay dividends as a repayment of share capital, which may subject you to Swiss withholding tax.
Item 1B. Unresolved Staff Comments
None.
Item 2. Properties
Our operations are conducted in facilities throughout the world aggregating approximately
35 million square feet of floor space, of which approximately 15 million square feet are owned and
approximately 20 million square feet are leased. These facilities house manufacturing, distribution and
warehousing operations, as well as sales and marketing, engineering and administrative offices.
ADT Worldwide operates through a network of offices and service facilities located in North
America, Central America, South America, Europe, the Middle East, the Asia-Pacific region and South
Africa. The group occupies approximately 7 million square feet, of which 1 million square feet are
owned and 6 million square feet are leased.
Flow Control has manufacturing facilities, warehouses and distribution centers throughout North
America, South America, Europe and the Asia-Pacific region. The group occupies approximately
11 million square feet, of which 6 million square feet are owned and 5 million square feet are leased.
Fire Protection Services operates through a network of offices located in North America, Central
America, South America, Europe and the Asia-Pacific region. The group occupies approximately
5 million square feet, all of which are leased.
Electrical and Metal Products has manufacturing facilities, warehouses and distribution centers
throughout North America, South America, Europe and the Asia-Pacific region. The group occupies
approximately 6 million square feet, of which 5 million square feet are owned and 1 million square feet
are leased.
Safety Products operates through a network of offices located in North America, South America,
Europe and the Asia-Pacific region. Our Safety Products manufacturing facilities, warehouses and
distribution centers are located in North America, Europe and the Asia-Pacific region. The group
occupies approximately 6 million square feet, of which 3 million square feet are owned and 3 million
square feet are leased.
2010 Financials 23