Chrysler 2004 Annual Report Download - page 183

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Financial Statements at December 31, 2004 – Notes to the Financial Statements
7 Cash
Bank and post office accounts
This item, which at the end of December 31, 2004 amounted to 325 thousand euros, showed an increase of 79 thousand euros with
respect to December 31, 2003.
Cheques
At December 31, 2004, there were no cheques.
Cash on hand
Cash on hand at December 31, 2004 was in line with the figure at December 31, 2003.
8 Accrued income and prepaid expenses
Accrued income
At 2,353 thousand euros, accrued income showed a decrease of 969 thousand euros from the amount at December 31, 2003. Of this
amount, 2,223 thousand euros represent accrued interest on the loans granted to the subsidiary Fiat Ge.Va. S.p.A.
Prepaid expenses
These totaled 4,528 thousand euros at December 31, 2004, for a net decrease of 3,710 thousand euros compared with December 31,
2003, mainly connected to the consideration that is contractually owed to TOROC for sponsorship of the XX Winter Olympic Games
in 2006, applicable to future fiscal years.
9 Stockholders Equity
Capital stock
Capital stock, fully paid-in, amounted to 4,918,114 thousand euros at December 31, 2004 and consists of 983,622,708 shares as
follows:
■800,417,598 ordinary shares;
■103,292,310 preference shares;
■79,912,800 savings shares;
all with a par value of 5 euros each.
With reference to Capital stock, it should be mentioned that:
■Pursuant to resolutions by the Board of Directors on December 10, 2001 and June 26, 2003, the capital may be further increased
through rights offerings for a maximum of 82 million euros, and thus reach a total of 5 billion euros, with the issuance of a
maximum of 16,377,292 ordinary shares at a par value of 5 euros each on February 1, 2007, following exercise of the residual “FIAT
ordinary share warrants 2007” issued as part of the capital increase of February 2002 and still outstanding. It should be recalled that
Fiat reserved the right to pay the warrant holders in cash, starting on January 2, 2007, in lieu of the shares to be issued (shares in
exchange for warrants), for the difference between the arithmetic average of the official market price of Fiat ordinary shares in
December 2006 and the warrant exercise price, unless this difference exceeds the maximum amount set and previously
communicated by Fiat, in which case the holder of the warrants may opt to subscribe to the shares in exchange for the warrants.
■Pursuant to the resolution by the Extraordinary Stockholders’ Meeting on September 12, 2002, the Board of Directors has the right to
increase the capital one or more times by September 11, 2007, up to a maximum of 8 billion euros, of which 3 billion euros are to be
reserved, pursuant to paragraph 7 of Article 2441 of the Italian Civil Code, to the banks that underwrote the “Mandatory Convertible
Facility” described in Note 12 if the facility is not reimbursed earlier than the contractual deadline of September 16, 2005.