Chrysler 2009 Annual Report Download - page 311

FIAT S.P.A.
STATUTORY
FINANCIAL
STATEMENTS AT
31 DECEMBER
2009
NOTES
310
Net profit reported in the annual financial statements of Fiat S.p.A. shall be allocated as follows:
to the legal reserve, 5% of net profit until the amount of such reserve is equivalent to one-fifth of share capital;
to savings shares, a dividend of up to €0.31 per share;
further allocations to the legal reserve, allocations to the extraordinary reserve and/or to retained profit reserve as may be resolved by Shareholders;
to preference shares, a dividend of up to €0.31 per share;
to ordinary shares, a dividend of up to €0.155 per share;
to savings shares and ordinary shares, in equal amounts, an additional dividend of up to €0.155 per share; and,
to each ordinary, preference and savings share, in equal amounts, any remaining profit which Shareholders may resolve to distribute.
When the dividend paid to savings shares in any year amounts to less than €0.31, the difference shall be added to the preferred dividend to which they are
entitled in the following two years.
In the event that the savings shares are delisted, any bearer shares shall be converted into registered shares and shall have the right to a higher dividend
increased by €0.175, rather than €0.155, with respect to the dividend received by the ordinary and preference shares.
In the event that the ordinary shares are delisted, the higher dividend received by the savings shares with respect to the dividend received by ordinary and
preference shares shall be increased by €0.200 per share.
In the event of a winding up, the Company’s assets shall be distributed in the following order of priority: repayment of savings shares up to their par value,
repayment of preference shares up to their par value, repayment of ordinary shares up to their par value; any balance remaining, in an equal pro rata amount
to shares of all three classes.
Following is a reconciliation between the number of shares outstanding at 31 December 2007 and at 31 December 2009:
At (Purchases)/ At (Purchases)/ At
31 December Capital sales of own 31 December Capital sales of own 31 December
(shares in thousands) 2007 increase shares 2008 increase shares 2009
Ordinary shares issued 1,092,247 - - 1,092,247 - - 1,092,247
Less: Treasury shares (21,851) - (16,717) (38,568) - - (38,568)
Ordinary shares outstanding 1,070,396 - (16,717) 1,053,679 - - 1,053,679
Preference shares issued 103,292 - - 103,292 - - 103,292
Less: Treasury shares - - - - - - -
Preference shares outstanding 103,292 - - 103,292 - - 103,292
Savings shares issued 79,913 - - 79,913 - - 79,913
Less: Treasury shares - - - - - - -
Savings shares outstanding 79,913 - - 79,913 - - 79,913
Total shares issued by Fiat S.p.A. 1,275,452 - - 1,275,452 - - 1,275,452
Less: Treasury shares (21,851) - (16,717) (38,568) - - (38,568)
Total Fiat S.p.A. shares outstanding 1,253,601 - (16,717) 1,236,884 - - 1,236,884
Treasury share sales and buybacks in 2008 are discussed in the section “Treasury shares”.