Chrysler 2012 Annual Report Download - page 280

279
Fiat S.p.A. - Statutory
Financial Statements
at 31 December 2012
At 31 December 2012, no interest was recognized in relation to VAT receivables subject to refund (as was also the case at 31 December 2011), while
interest on IRES tax receivables (100% factored) amounted to €3,622 thousand (€3,162 thousand at 31 December 2011).
The carrying amount of other current receivables is deemed to approximate their fair value.
Other current receivables are almost entirely due during the subsequent financial year.
17. Cash and cash equivalents
Cash and cash equivalents consisted of the following:
(€ thousand) 31 December 2012 31 December 2011 Change
Cash at banks and post offices 554 744 (190)
Total cash and cash equivalents 554 744 (190)
The above figures related to demand deposits in euros. The carrying amount of cash and cash equivalents is deemed to be in line with their fair value.
18. Equity
At 31 December 2012, equity totaled €8,902,104 thousand, a €151,140 thousand decrease over 31 December 2011. The €152,350 thousand loss for
the year and dividends of €39,756 thousand (€0.217 per preference share and €0.217 per savings share) were partially offset by increases in the fair value
measurement of investments in other companies (€26,330 thousand recognized directly in equity) and net other increases.
Share capital
Share capital totaled €4,476,442 thousand (fully paid) at 31 December 2012, an increase of €10,842 thousand over €4,465,600 thousand at
31 December 2011, and consisted of the following:
(no. of shares) 31 December 2012 31 December 2011
Shares issued and fully paid
Ordinary shares 1,250,402,773 1,092,680,610
Preference shares -103,292,310
Savings shares -79,912,800
Total shares issued 1,250,402,773 1,275,885,720
Par value per share €3.58 €3.50
On 4 April 2012, Shareholders approved the mandatory conversion of all 103,292,310 preference shares and 79,912,800 savings shares into 157,722,163
ordinary shares, with full participation rights. The exchange ratios for the conversion were 0.850 ordinary shares per preference share and 0.875 ordinary
shares per savings share.
At 28 April 2012, with the period for withdrawal closed, Fiat had received notifications of withdrawal in relation to 1,016,190 preference shares and
1,616,509 savings shares.
On 21 May 2012, the Company completed the mandatory conversion of all preference and savings shares into ordinary shares at the exchange ratios
approved by Shareholders. The final trading date for Fiat S.p.A. preference and savings shares was May 18th. From 21 May 2012, Fiat S.p.A. ordinary
shares only were traded on Borsa Italiana (“MTA”). Following the conversion, the Company had 1,250,402,773 ordinary shares outstanding with a par
value of €3.58 per share. The increase in par value per share, from €3.50 to €3.58, was paid through the transfer of €10,842 thousand from the share
premium reserve.