Unilever 2006 Annual Report Download - page 146
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Unilever Annual Report and Accounts 2006 143
Shareholder information (continued)
Shareholder information (continued)
Nature of the trading market
The principal trading markets upon which Unilever shares are
listed are Euronext Amsterdam for NV ordinary and preference
shares and the London Stock Exchange for PLC ordinary shares.
NV ordinary shares mainly trade in the form of depositary receipts
for shares.
In the United States, NV ordinary shares and PLC American
Depositary Receipts, are traded on the New York Stock Exchange.
Citibank, N.A. acts for NV and PLC as issuer, transfer agent and,
in respect of the American Depositary Receipts, depositary.
There have not been any significant trading suspensions in the
past three years.
At 1 March 2007 there were 6 269 registered holders of NV
New York Registry shares and 747 registered holders of PLC
American Depositary Receipts in the United States. We estimate
that approximately 21% of NV’s ordinary shares were held in the
United States (approximately 28% in 2005), based on the
distribution of the 2006 interim dividend payments, while
most holders of PLC ordinary shares are registered in the
United Kingdom – approximately 99% in 2006 and in 2005.
NV and PLC are separate companies with separate stock exchange
listings and different shareholders. Shareholders 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. Following the decisions taken at the NV AGM held on
8 May 2006 and the PLC AGM held on 9 May 2006 to simplify
the relationship between the NV and PLC ordinary shares, each
NV ordinary share now represents the same underlying economic
interest in the Unilever Group as each PLC ordinary share (save for
exchange rate fluctuations).
If you are a shareholder of NV, you have an interest in a Dutch
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 tax in the Netherlands. 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 Equalisation
Agreement on pages 39 and 40.
The high and low trading prices for the separate stock exchange
listings areshown in the tables on the following page.