ING Direct 2011 Annual Report Download - page 139

EQUITY
13 SHAREHOLDERS’ EQUITY (PARENT)/NON-VOTING EQUITY SECURITIES
Shareholders’ equity (parent)
2011 2010 2009
Share capital 919 919 919
Share premium 16,034 16,034 16,034
Revaluation reserve 5,550 4,752 2,466
Currency translation reserve 93 79 –2,011
Other reserves 24,067 19,120 16,235
Shareholders’ equity (parent) 46,663 40,904 33,643
The following equity components cannot be freely distributed: Revaluation reserve, Share of associates reserve (included in Other reserves),
Currency translation reserve and the part of the Other reserves that relates to the former Stichting Regio Bank and the former Stichting
Vakbondsspaarbank SPN.
As at 31 December 2011, Other reserves included an amount of EUR 836 million (2010: EUR 741 million; 2009: EUR 645 million) related
tothe former Stichting Regio Bank and the former Stichting Vakbondsspaarbank SPN.
Share capital
Ordinary shares (par value EUR 0.24)
Number x1,000 Amount
2011 2010 2009 2011 2010 2009
Authorised share capital 14,500,000 4,500,000 4,500,000 3,480 1,080 1,080
Unissued share capital 10,668,439 668,439 668,439 2,561 161 161
Issued share capital 3,831,561 3,831,561 3,831,561 919 919 919
Changes in issued share capital
Ordinary shares (par value EUR 0.24)
Number x1,000 Amount
Issued share capital as at 1 January 2009 2,063,148 495
Issue of shares 1,768,413 424
Issued share capital as at 31 December 2009 3,831,561 919
No changes have occurred in the issued share capital in 2011 and 2010.
Share premium
Changes in Share premium are disclosed in the Consolidated statement of changes in equity of ING Group.
Rights issue (2009)
On 27 November 2009 existing holders of (depositary receipts for) ordinary shares were offered rights entitling to subscribe for new
(depositary receipts for) ordinary shares subject to applicable securities laws. Eligible rights holders could subscribe for six new (depositary
receipts for) ordinary shares in relation to every seven subscription rights that they hold. The issue price was set at EUR 4.24 per share. This
represented a discount of 37.3% to the Theoretical Ex-Rights Price (TERP), based on the closing price of EUR 8.92 of ING Groep N.V.’s,
(depositary receipts for) shares on Euronext Amsterdam and on Euronext Brussels on 26 November 2009.
A total of 1,768,412,544 (depositary receipts for) ordinary shares were offered and sold, of which approximately 97% through the exercise
of rights and the remainder through placements to institutional investors. As a result, ING received approximately EUR 7.3 billion in proceeds,
net of fees and expenses.
Ordinary shares
All ordinary shares are in registered form. No share certificates have been issued. Ordinary shares may be transferred by means of a deed
of transfer. A transfer of ordinary shares requires written acknowledgement by ING Groep N.V. The par value of ordinary shares is EUR
0.24. The authorised ordinary share capital of ING Groep N.V. currently consists of 14,500 million ordinary shares. It increased in 2011
from 4,500 million ordinary shares to 14,500 million ordinary shares as a result from an amendment made to the Articles of Association
on 15 June 2011. As at 31 December 2011, 3,832 million of ordinary shares were issued and fully paid.
Notes to the consolidated annual accounts of ING Group continued
1 Who we are 2 Report of the Executive Board 3 Corporate governance 4 Consolidated annual accounts 5 Parent company annual accounts 6 Other information 7 Additional information
137ING Group Annual Report 2011