Chrysler 2007 Annual Report Download - page 283

The reconciliation of the number of shares outstanding at December 31, 2005 and at December 31, 2007 is as follows:
(Purchases)/ At (Purchases)/ At
At December 31, Capital Sales of December 31, Capital Sales of December 31,
(no. of shares, in thousands) 2005 increase treasury stock 2006 increase treasury stock 2007
Ordinary shares issued 1,092,246 – – 1,092,246 1 – 1,092,247
Less: Treasury stock (4,332) – 559 (3,773) – (18,078) (21,851)
Ordinary shares outstanding 1,087,914 – 559 1,088,473 1 (18,078) 1,070,396
Preference shares issued 103,292 – – 103,292 – – 103,292
Less: Treasury stock – – – – – – –
Preference shares outstanding 103,292 – – 103,292 – – 103,292
Savings shares issued 79,913 – – 79,913 – – 79,913
Less: Treasury stock – – – – – – –
Savings shares outstanding 79,913 – – 79,913 – – 79,913
Total shares issued by Fiat S.p.A. 1,275,451 – – 1,275,451 1 – 1,275,452
Less: Treasury stock (4,332) – 559 (3,773) – (18,078) (21,851)
Total Fiat S.p.A. shares outstanding 1,271,119 – 559 1,271,678 1 (18,078) 1,253,601
In respect of changes in 2007 regarding issued ordinary shares, on January 29, 2007, following the pre-established expiry date, the
Warrants “Fiat Ordinary Share 2007” (issued in 2002), were delisted. The owners of the 65,509,168 outstanding warrants at that
date were given the option to subscribe in January 2007 to Fiat S.p.A. ordinary shares in the ratio of one Fiat ordinary share at a
price of 29.364 euros for every four warrants held. To that date 4,676 warrants had been exercised with the issuance of 1,169 shares.
As a consequence, on February 1, 2007 the capital stock of Fiat S.p.A. increased from 6,377,257,130 euros to 6,377,262,975 euros and
additional paid-in capital increased by 28,481.52 euros.
Treasury stock sales and buybacks in 2007 are discussed in the paragraph “Treasury stock”.
Italian laws and regulations regarding the capital stock and reserves of a joint stock corporation establish the following:
■The minimum capital stock is 120,000 euros.
■Any change in the amount of capital stock must be approved by stockholders in general meeting who may delegate powers to the
Board of Directors, having validity for a maximum period of five years, to increase capital stock up to a predetermined amount; the
general meeting of stockholders is also required to adopt suitable measures when capital stock decreases by more than one third
as the result of ascertained losses and to reduce capital stock if by the end of the following year such losses have not fallen to less
than one third. If as the consequence of a loss of more than one third of capital this then drops below the legal minimum,
stockholders in general meeting are required to approve a decrease and simultaneous increase of capital to an amount not less
than this minimum or must change a company’s legal form.
■As discussed previously the share in profits due to each class of shares is determined by a company’s By-laws.
■An additional paid-in capital reserve is established if a company issues shares at a price exceeding their nominal value. This
reserve may not be distributed until the legal reserve has reached one fifth of capital stock.
Fiat S.p.A. Financial Statements at December 31, 2007 - Notes to the Financial Statements282