Unilever 2002 Annual Report Download - page 146

Unilever Annual Report & Accounts and Form 20-F 2002
Shareholder information
Information about exchange controls 143
affecting security holders
Nature of the trading market
The principal trading markets upon which Unilever shares
are listed are the Euronext Stock Exchange for NV ordinary
shares and the London Stock Exchange for PLC ordinary
shares. NV ordinary shares trade in the form of Nedamtrust
Certificates and almost all the shares are in bearer form.
PLC ordinary shares are all in registered form.
In the United States, NV ordinary shares in registered form
and PLC American Depositary Receipts, representing four
PLC ordinary shares, are traded on the New York Stock
Exchange. JPMorgan Chase Bank of New York acts for
NV and PLC as issuer, transfer agent and, in respect of
the American Depositary Receipts, depositary.
The NV ordinary shares are also listed on the stock
exchanges in London, France, Germany and Switzerland.
These shares were also listed in Belgium until 31 December
2002 and in Luxembourg until 24 January 2003.
At 28 February 2003 there were 7 963 registered holders
of NV ordinary shares and 901 registered holders of PLC
American Depositary Receipts in the United States. We
estimate that approximately 21% of NV’s ordinary
shareholdings were in the United States (approximately
33% in 2001), based on the distribution of the 2002 interim
dividend payments, whilst most holders of PLC ordinary
shares are registered in the United Kingdom – approximately
99% in both 2002 and 2001.
The high and low trading prices for the separate stock
exchange listings are shown in the tables on the
following page.
NV and PLC are separate companies with separate stock
exchange listings and different shareholders. You cannot
convert or exchange the shares of one for shares of the
other and the relative share prices on the various markets
can, and do, fluctuate. This happens for various reasons,
including changes in exchange rates. However, over
time the prices of NV and PLC shares do stay in close
relation to each other, in particular because of our
equalisation arrangements.
If you are a shareholder of NV, you have an interest
in a Netherlands legal entity, your dividends will be paid in
euros (converted into US dollars if you have shares registered
in the United States) and you will be subject to Netherlands
tax. If you are a shareholder of PLC, your interest is in a
United Kingdom legal entity, your dividends will be paid in
sterling (converted into US dollars if you have American
Depositary Receipts) and you will be subject to United
Kingdom tax. Nevertheless, the Equalisation Agreement
means that as a shareholder of either company you
effectively have an interest in the whole of Unilever.
You have largely equal rights over our combined net profit
and capital reserves as shown in the consolidated accounts.
(See Taxation for US residents on pages 145 and 146 and
Equalisation Agreement on pages 138 and 139.)
Unilever N.V.
Under the Dutch External Financial Relations Act of
28 May 1980 the Government, the Minister of Finance
and the Central Bank of Netherlands are all authorised to
issue regulations relating to financial transactions involving
Dutch residents, if a non-Dutch resident is also involved,
or if the transactions are conducted in a foreign currency.
If regulations are issued in the future, we could be in
need of a licence for this type of transaction. To date
no regulations of this type have been issued.
Unilever PLC
None.