Chrysler 2007 Annual Report Download - page 152

151Fiat Group Consolidated Financial Statements at December 31, 2007 - Notes
Issued shares have a nominal value of 5 euros, with each category having rights as follows.
Each share conveys the right to a proportionate share of the earnings available for distribution and of the residual net assets upon
liquidation, without harming the rights of preference and savings shares, as described in the following paragraph.
Each ordinary share conveys the right to vote without any restrictions whatsoever. Each preference share conveys the right to vote
only on issues that are within the purview of the Extraordinary Stockholders’ Meeting and on resolutions concerning Regulations
for Stockholders’ Meetings. Savings shares are not entitled to vote.
The net income for the year resulting from the annual financial statements of Fiat S.p.A. is 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 share, in equal proportions, the balance of the net income which the Stockholders'
Meeting resolves to distribute.
When the dividend paid to savings shares in any year amounts to less than 0.31 euros, the difference is added to the preferred
dividend to which they are entitled in the following two years.
If the savings shares are delisted, they are transformed into registered shares if originally bearer shares, and have the right to a
higher dividend increased by 0.175 euros, rather than 0.155 euros, with respect to the dividend received by the ordinary and
preference shares.
If the ordinary shares are delisted, the higher dividend received by the savings shares with respect to the dividend received by
ordinary and preference shares is increased by 0.2 euros per share.
In the event of liquidation, the Company’s assets shall be distributed in order of priority to saving shares up to their par value, to
the preference shares up to their par value, to the ordinary shares up to their par value; the balance, if any, to shares of all three
classes in equal proportion.