Unilever 2006 Annual Report Download - page 99

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96 Unilever Annual Report and Accounts 2006
Financial Statements (continued)
16 Borrowings
€million €million
Borrowings 2006 2005
Preference shares 124 124
Bank loans and overdrafts 1307 1456
Bonds and other loans
At amortised cost 6561 8609
Subject to fair value hedge accounting 609 2210
8601 12 399
€million €million
Borrowings – additional details 2006 2005
The repayments fall due as follows
Within one year:
Bank loans and overdrafts 743 786
Bonds and other loans 3619 5156
Total due within one year 4362 5942
After one year but within two years 385 2049
After two years but within three years 311 180
After three years but within four years 1344 391
After four years but within five years 21493
After five years 2197 2344
Total due after more than one year 4239 6457
Secured borrowings –8
Of which secured against property, plant and equipment ––
€million € million € million € million
Issued,
Number Nominal Number called up
of shares value of shares and fully Statutory
authorised Authorised per share issued paid Reserve Total
Preference shares NV as at 31 December 2006
7% Cumulative Preference 75 000 32 €428.57 29 000 12 1 13
6% Cumulative Preference 200 000 86 €428.57 161 060 69 4 73
4% Cumulative Preference 750 000 32 €42.86 750 000 32 2 34
Share premium 44
150 117 7 124
Preference shares NV as at 31 December 2005
7% Cumulative Preference 75 000 34 €453.78 29 000 13 – 13
6% Cumulative Preference 200 000 91 €453.78 161 060 73 – 73
4% Cumulative Preference 750 000 34 €45.38 750 000 34 – 34
Share premium 4–4
159 124 – 124
The 7%, 6% and 4% cumulative preference shares of NV are entitled to dividends at the rates indicated. The 4% preference capital of NV is
redeemable at par at the company‘s option either wholly or in part. The other classes of preferential share capital of NV are not redeemable.
At the Annual General Meeting of NV held on 8 May 2006 it was agreed to convert the nominal value of all classes of shares from guilders into
euros. The 7% and 6% preference shares with a nominal value of Fl.1 000 each, were converted into shares with a nominal value of €428.57
each, and the 4% preference shares with a nominal value of Fl.100 each, were converted into shares with a nominal value of €42.86 each.
The effect of this was to adjust their reported value, with the difference being held as a statutory reserve.
In order to maintain the same economic rights for the preference shares as before the euro conversion, it was decided that their entitlement to
dividend and liquidation proceeds remains linked, using the official euro conversion rate, to the amount in Dutch guilders originally paid up on
these shares. As a consequence the amount paid out as preference dividends will remain the same euro amount as paid out in previous years.
Notes to the consolidated accounts Unilever Group