Chrysler 2008 Annual Report Download - page 165

The following table provides reconciliation between the number of shares outstanding at 31 December 2006 and those outstanding
at 31 December 2008:
(Purchases)/ (Purchases)/
At Sales of At Sales of At
31 December Capital treasury 31 December Capital treasury 31 December
(number of shares in thousand) 2006 increase shares 2007 increase shares 2008
Ordinary shares issued 1,092,246 1 – 1,092,247 – – 1,092,247
Less: Treasury shares (3,773) – (18,078) (21,851) – (16,717) (38,568)
Ordinary shares outstanding 1,088,473 1 (18,078) 1,070,396 – (16,717) 1,053,679
Preference shares issued 103,292 – – 103,292 – – 103,292
Less: Treasury shares – – – – – – –
Preference shares outstanding 103,292 – – 103,292 – – 103,292
Saving shares issued 79,913 – – 79,913 – – 79,913
Less: Treasury shares – – – – – – –
Saving shares outstanding 79,913 – – 79,913 – – 79,913
Total Shares issued by Fiat S.p.A. 1,275,451 1 – 1,275,452 – – 1,275,452
Less: Treasury shares (3,773) – (18,078) (21,851) – (16,717) (38,568)
Total Fiat S.p.A. outstanding shares 1,271,678 1 (18,078) 1,253,601 – (16,717) 1,236,884
Treasury share sales and buybacks in 2008 and 2007 are discussed under Treasury shares below.
In respect of changes in 2007 regarding issued ordinary shares, on 29 January 2007, the 2007 Fiat Ordinary Share Warrants issued
in 2002 were removed from trading by the Italian Stock Exchange in accordance with their natural due date. 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 for every four warrants held. A total of 4,676 warrants were exercised in
that month with the issue of 1,169 shares. As a consequence, on 1 February 2007 the share capital of Fiat S.p.A. increased from
€6,377,257,130 to €6,377,262,975 and additional paid-in capital increased by €28,481.52.
Italian laws and regulations regarding the share capital and reserves of a joint stock corporation establish the following:
the minimum share capital is €120,000;
any change in the amount of share capital must be approved by Shareholders in a General Meeting who may delegate powers to
the Board of Directors, having validity for a maximum period of five years, to increase share capital up to a predetermined amount;
the General Meeting of Shareholders is also required to adopt suitable measures when share capital decreases by more than one
third as the result of ascertained losses and to reduce share capital if by the end of the following year if such losses have not fallen
by more than one third. If as the consequence of a loss of more than one third of capital this then drops below the legal minimum,
Shareholders 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 share is determined by a company’s bylaws;
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 share capital;
Fiat Group Consolidated Financial Statements at 31 December 2008164