Cogeco 2004 Annual Report Download - page 42

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
40 Cogeco Cable Inc. 2004
9CAPITAL STOCK
Authorized
Unlimited number of:
Class A Preference shares, without voting rights, redeemable by the Corporation and retractable at the option of the holder at any time
at a price of $1 per share, carrying a cumulative preferential cash dividend at a rate of 11% of the redemption price per year.
Class B Preference shares, without voting rights, issuable in series.
Multiple voting shares, 10 votes per share.
Subordinate voting shares, 1 vote per share.
Issued
(amounts are in thousands of dollars, except number of shares) 2004 2003
$$
15,691,100 multiple voting shares 98,346 98,346
24,232,815 subordinate voting shares (24,190,043 in 2003) 531,070 530,669
629,416 629,015
During the year, subordinate voting shares transactions were as follows:
2004 2003
Number of Number of
(amounts are in thousands of dollars, except number of shares) shares Amount shares Amount
$$
Balance at beginning 24,190,043 530,669 24,182,714 530,680
Shares issued for cash under the Employee Stock
Purchase Plan and the Stock Option Plan 42,772 401 13,929 134
Purchase of shares for cancellation ——(6,600) (145)
Balance at end 24,232,815 531,070 24,190,043 530,669
During 2004, the Corporation issued 9,768 shares (12,480 shares in 2003) pursuant to its Employee Stock Purchase Plan for a cash consid-
eration of $137,000 ($121,000 in 2003). Also, the Corporation issued 33,004 shares (1,449 shares in 2003) pursuant to its Employee Stock
Option Plan for a cash consideration of $264,000 ($13,000 in 2003). During 2003, pursuant to a normal course issuer bid, the Corporation
purchased for cancellation 6,600 subordinate voting shares for an amount of $118,000, while the book value of purchased shares amounted
to $145,000. The excess of the book value of purchased shares over the purchase price increased retained earnings by $27,000.