Chrysler 2003 Annual Report Download - page 207

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Other Items on the Agenda
and Related Reports and Motions
In the event of a statutory auditor being replaced, the first
alternate auditor, if available, belonging to the same list as
the auditor being substituted and after having confirmed the
existence of the prescribed requirements, will join the Board
for the remainder of the auditors’ term of office. In the event of
a replacement of the Chairman, the office will be taken over by
the other regular statutory auditor belonging to the same list.
Prior conditions in matters of the appointment of statutory
auditors do not apply to Statutory Meetings that have to appoint
alternate auditors in the case only one auditor has remained in
office. In such cases, the Stockholders’ Meeting resolves by
relative majority.
Art. 20 –Financial Year
The Company’s financial year ends on December 31 each year.
Art. 21 –Allocation of Net Income
The net income for the year resulting from the annual financial
statements shall be allocated as follows:
❚to the Legal Reserve, 5% of net income until this reserve
reaches one fifth of the capital stock;
❚to savings shares, a dividend of up to 0.31 euros per share;
❚to the Legal Reserve (additional allocation), to the
Extraordinary Reserve and/or to retained earnings, such
allocations as shall be decided by the Annual General
Meeting of Stockholders;
❚to preference shares, a dividend of up to 0.31 euros per share;
❚to ordinary shares, a dividend of up to 0.155 euros per share;
❚to savings shares and ordinary shares, in equal proportions,
an additional dividend of up to 0.155 euros per share;
❚to each ordinary, preference and savings shares, in equal
proportions, the balance of the net income which the
Stockholders’ Meeting resolves to distribute.
UNCHANGED
UNCHANGED
Meetings of the Statutory Auditors may be held by means
of telecommunication systems. In such cases, the meeting
is deemed to have been held at the location where it was
convened and where at least one Statutory Auditor was to
be present. In addition, it must be possible to identify the
attendees, and they must be able to follow the proceedings,
intervene in real time in the discussion of the topics on the
Agenda and receive, send or view documents.
Art. 18 –Independent Audits
Independent audits are performed by external auditors who
meet statutory requirements.
The Stockholders’ Meeting has jurisdiction over the granting
and revocation of the audit assignment to external auditors
and the determination of the applicable fee.
The duration of the assignment, as well as the rights, duties and
prerogatives of external auditors are governed by the applicable
statute.
Art. 19 –Financial Year
UNCHANGED
Art. 20 –Allocation of Net Income
UNCHANGED