Logitech 2003 Annual Report Download - page 192
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LISA - 5
Conditional capital
In June 1996 and June 1995, the Company shareholders approved the availability of 8,000,000 and 6,000,000
conditional registered shares. In June 2002, the shareholders approved the continued availability of the
aforementioned amount and approved an additional 6,000,000 conditional registered shares. The remaining number
of conditional registered shares at March 31, 2003 was 15,165,465, which are available for issuance upon the exercise
of employee stock options and purchase rights related to the employee share purchase plans. During the fiscal year
2003 and 2002, zero and 758,065, were issued from the aforementioned amounts of conditional shares available. In
fiscal year 2003, all stock options and purchase plan commitments were satisfied from treasury shares held by the
Holding Company.
In addition to the aforementioned, the shareholders in June 2001 approved the creation of an additional 2,725,000
conditional registered shares to cover the conversion rights associated with the issue of a convertible bond by
Logitech Jersey Ltd, a subsidiary of the Holding Company. As at March 31, 2002, none of the aforementioned
conditional registered shares had been issued.
Note 6 — Significant Shareholders:
The Holding Company’s share capital consists of registered shares. To the knowledge of the Holding Company,
the only beneficial owners holding more than 5% of the voting rights of the Holding Company at March 31, 2003 is
Mr. Daniel Borel, who owns 6.8% and Fidelity Investments, which owns 5.8%.
Note 7 — Movements on Retained Earnings:
2003 2002
Retained earnings at the beginning of the year....................................... 140,688CHF 108,147CHF
Net income for the year........................................................................... 348 32,541
Retained earnings at the disposal of the annual general meeting............ 141,036CHF 140,688CHF
Year ended March 31,
(In thousands)
********************************
PROPOSAL OF THE BOARD OF DIRECTORS FOR APPROPRIATION OF RETAINED EARNINGS
2003 2002
Proposal of the
Board of Directors
Resolution of the
General Meeting
To be carried forward............................................... 141,036CHF 140,688CHF
Year ended March 31,
(In thousands)