Hyundai 2000 Annual Report Download - page 60

NOTES TO FINANCIAL STATEMENTS
December 31, 2000 and 1999
Common stock
Preferred stock
$ 827,461
261,770
$ 1,090,231
U.S. dollars (Note 2)
(in thousands)
￦1,042,353
331,011
￦￦1,373,364
Korean won
(in millions)
￦5,000
5,000
Par value
208,470,702 shares
66,202,146 shares
Issued
450,000,000 shares
150,000,000 shares
Authorized
Capital stock as of December 31, 1999 consists of the following:
The preferred shares are non-cumulative, non-participating and non-voting. Of the total preferred stock issued of 66,202,146
shares as at December 31, 2000, a total of 27,588,281 preferred shares are eligible to receive cash dividends, if declared,
equal to that declared for common shares plus an additional 1 percent minimum increase while the dividend rate for the
remaining 38,613,865 preferred shares is 2 percent higher than that declared for common shares.
In September 2000, the Company issued 20,618,000 common shares with a total proceeds of ￦430,916 million ($342,078
thousand) (at a per share price of ￦20,900), which includes paid-in capital in excess of par value of ￦327,222 million
($269,762 thousand) after the deduction of new stock issuance cost, to DaimlerChrysler Aktiengesellschaft(DCAG). Under the
agreement with DCAG, the Company shall sell 2,290,800 shares of common stock from the treasury stock to DCAG at a price
per share of ￦20,900 as at the earlier of the date of additional purchase of 2,290,887 shares by the Company and its related
parties and the date falling six months from September 2000 when the Company issued common stock as mentioned above.
The Company issued 10,000,000 Global Depositary Receipts (GDRs) representing 5,000,000 shares of preferred stock in
November 1992, 4,675,324 GDRs representing 2,337,662 shares of preferred stock in June 1995 and 7,812,500 GDRs
representing 3,906,250 shares of preferred stock in June 1996, all of which have been listed on the Luxembourg Stock
Exchange.
In the second half of 1999, the Company issued 45,788,000 Global Depositary Shares representing 22,894,000 common
shares for ￦601,356 million ($477,308 thousand) which include paid-in capital in excess of par value of ￦486,886 million
($386,509 thousand).
Also, in 1999, the Company issued 99,200,000 shares of common stock for ￦1,482,840 million ($1,177,137 thousand) and
38,420,583 shares of preferred stock for ￦247,357 million ($196,362 thousand), including paid-in capital in excess of par value
of ￦986,840 million ($783,393 thousand) and ￦55,254 million ($43,863 thousand), respectively. In addition, in connection
with its merger with HMSC in 1999, the Company issued 10,034,230 shares of common stock and 2,438,829 shares of
preferred stock at par value (see Note 26).
In connection with the merger with the Automobile and Machine Tools Divisions of Hyundai Precision & Ind. Co., Ltd., the
Company issued 25,043,190 common shares for ￦941,624 million ($747,499 thousand) and 39,470 preferred shares for
￦677 million ($537 thousand), which amounts included paid-in capital in excess of par value of ￦816,408 million ($648,097
thousand) and ￦480 million ($381 thousand), respectively (see Note 25).
In addition, in 1999, the 263rd convertible bonds amounting to ￦28,142 million ($22,340 thousand) were converted into
1,168,367 common shares.
14. Capital Surplus
Capital surplus as of December 31, 2000 and 1999 consists of the following:
Paid-in capital in excess of par value
Gain on merger
Asset revaluation surplus
Gain on disposal of treasury stock
2000
$ 2,584,930
196,668
1,470,883
3,051
$ 4,255,532
1999
$ 2,325,168
196,668
1,470,883
3,051
$ 3,995,770
1999
￦2,929,014
247,743
1,852,871
3,844
￦
￦5,033,472
2000
￦3,256,236
247,743
1,852,871
3,844
￦
￦5,360,694
U.S. dollars (Note 2) (in thousands)Korean won (in millions)