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Notes to the consolidated accounts 97
Unilever Group
Unilever Annual Report & Accounts and Form 20-F 2002
Financial Statements
21 Called up share capital
million million
Nominal Number Issued, Issued,
million million value of shares called up and called up and
Authorised Authorised Preferential share capital per share issued fully paid fully paid
2002 2001 NV 2002 2001
34 34 7% Cumulative Preference 453.78 29 000 13 13
91 91 6% Cumulative Preference 453.78 161 060 73 73
34 34 4% Cumulative Preference 45.38 750 000 34 34
29 29 5 euro cents Cumulative Preference 0.05 211 473 785 10 10
188 188 130 130
Ordinary share capital
NV
508 508 Ordinary 0.51 571 575 900 290 290
11Ordinary (Shares numbered
1 to 2 400 – ‘Special Shares’) 453.78 2 400 11
––Internal holdings eliminated in consolidation (453.78 shares) (1) (1)
509 509 290 290
Total NV share capital 420 420
£ million £ million Ordinary share capital £ million £ million
2002 2001 PLC 2002 2001
136.2 136.2 Ordinary: 1.4p 2 911 458 580 40.8 40.8
0.1 0.1 Deferred £1 stock 100 000 0.1 0.1
––Internal holdings eliminated in consolidation (£1 stock) (0.1) (0.1)
136.3 136.3 Total PLC share capital 40.8 40.8
Euro equivalent in millions (at £1 = 5.445) 222 222
For NV share capital, the euro amounts shown above and elsewhere in this document are representations in euros on the basis of Article
67c of Book 2 of the Civil Code in the Netherlands, rounded to two decimal places, of underlying amounts of share capital in Dutch
guilders, which have not been converted into euros in NV’s Articles of Association. Until conversion formally takes place by amendment
of the Articles of Association the entitlements to dividends and voting rights are based on the underlying Dutch guilder amounts.
The 7%, 6% and 4% preference shares of NV are entitled to dividends at the rates indicated. The 0.05 preference shares of NV are
entitled to a dividend of 65% of the six months Euribor interest rate on their notional value of 6.580 each. A nominal dividend of 1⁄4%
is paid on the deferred stock of PLC.
The 4% cumulative preference capital of NV is redeemable at par at the Company‘s option either wholly or in part.
The Company has agreed that it will not buy back the 0.05 cumulative preference share capital of NV before 9 June 2004. At any time
after this date, at the Company’s option, 6.534 of the notional value of the preference shares is convertible into ordinary NV shares and
the remaining notional value is then redeemable. The Company expects to exercise the conversion right if any preference shares remain
outstanding after 1 December 2004.
The other classes of preferential share capital of NV and the deferred stock of PLC are not redeemable.
For information on the rights of shareholders of NV and PLC and the operation of the Equalisation Agreement see ‘Control of Unilever’
on pages 138 to 141.
Internal holdings
The ordinary shares numbered 1 to 2 400 (inclusive) in NV and deferred stock of PLC are held as to one half of each class by N.V. Elma –
asubsidiary of NV – and one half by United Holdings Limited – a subsidiary of PLC. This capital is eliminated in consolidation. It carries the
right to nominate persons for election as directors at general meetings of shareholders. The subsidiaries mentioned above have waived
their rights to dividends on their ordinary shares in NV. For more information see ‘Control of Unilever’ on pages 138 to 141.
Share options
The Group operates a number of equity-based compensation plans involving options over ordinary shares of NV and PLC. Full details of
these plans are given in note 29 on page 103.