ING Direct 2009 Annual Report Download - page 130

EQUITY
13 SHAREHOLDERS’ EQUITY (PARENT)/NON-VOTING EQUITY SECURITIES
Shareholders’ equity (parent)
2009 2008 2007
Share capital 919 495 534
Share premium 16,034 9,182 8,739
Revaluation reserve 2,466 –8,502 4,937
Currency translation reserve –2,008 –1,918 –1,354
Other reserves 16,452 18,077 24,352
Shareholders’ equity (parent) 33,863 17,334 37, 208
The Revaluation reserve, Share of associates reserve (included in Other reserves) and Currency translation reserve cannot be freely distributed.
As at 31 December 2009, Other reserves included an amount of EUR 645 million (2008: EUR 566 million; 2007: EUR 566 million) related to
the former Stichting Regio Bank that cannot be freely distributed.
Share capital
Ordinary shares (par value EUR 0.24)
Number x1,000 Amount
2009 2008 2007 2009 2008 2007
Authorised share capital 4,500,000 4,500,000 3,000,000 1,080 1,080 720
Unissued share capital 668,439 2,436,852 773,555 161 585 186
Issued share capital 3,831,561 2,063,148 2,226,445 919 495 534
Changes in issued share capital
Ordinary shares (par value EUR 0.24)
Number x1,000 Amount
Issued share capital as at 1 January 2007 2,205,093 530
Issue of shares 5,569 1
Exercise of B warrants and options 15,783 3
Issued share capital as at 31 December 2007 2,226,445 534
Issue of shares 1,848
Buy-back of shares –183,158 –44
Exercise of B warrants 18,013 5
Issued share capital as at 31 December 2008 2,0 63,148 495
Issue of shares 1,768,413 424
Issued share capital as at 31 December 2009 3,831,561 919
Share premium
Changes in Share premium are disclosed in the Consolidated statement of changes in equity of ING Group.
Rights issue
On 27 November 2009 existing holders of (depositary receipts for) ordinary shares were offered rights entitling to subscribe for new
(depositary receipts for) ordinary shares subject to applicable securities laws. Eligible rights holders could subscribe for 6 new (depositary
receipts for) ordinary shares in relation to every 7 subscription rights that they hold. The issue price was set at EUR 4.24 per share. This
represented a discount of 37.3% to the Theoretical Ex-Rights Price (TERP), based on the closing price of EUR 8.92 of ING Groep N.V.’s,
(depositary receipts for) shares on Euronext Amsterdam and on Euronext Brussels on 26 November 2009.
A total of 1,768,412,544 (depositary receipts for) ordinary shares were offered and sold, of which approximately 97% through the exercise
of rights and the remainder through placements to institutional investors. As a result, ING received approximately EUR 7.3 billion in
proceeds, net of fees and expenses.
2.1 Consolidated annual accounts
ING Group Annual Report 2009
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Notes to the consolidated balance sheet of ING Group (continued)