Mercedes 2010 Annual Report Download - page 208

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20. Equity
See also the consolidated statements of changes in equity.
The share capital is divided into no par value shares. All shares
are fully paid up. Each share grants the right to one vote at
the Annual Meeting of Daimler AG and, if applicable, with the
exception of any new shares potentially not entitled to dividend,
to an equal portion of the profits as defined by the dividend
distribution resolved at the Annual Meeting.
2010 2009
In millions of shares
Shares issued on January 1 1,0 61 964
Reacquired shares not cancelled
(share buy-back program) previous years
-37
-37
Shares outstanding on January 1 1,024 927
Creation of new shares by exercise
of stock options
5
1
Creation of new shares by capital increase –96
Utilization of treasury shares to enter into
a cross-shareholding structure between
Daimler AG, Renault SA and Nissan Motor
Company Ltd
35
–
Repurchase of treasury shares by exercise
of a forward contract to settle obligations towards
former AEG shareholders
-1
–
Utilization of treasury shares due to the settlement
of obligations towards former AEG shareholders
3
–
Shares outstanding on December 31 1,066 1,024
Reacquired shares not cancelled
(share buy-back program)
–
37
Shares issued on December 31 1,066 1,061
Share buy-back program. On April 9, 2008, the Annual Meet-
ing authorized Daimler AG to acquire, until October 9, 2009,
treasury shares for certain predefined purposes, i. e. for the
purpose of using them for business combinations or to acquire
companies or to meet the subscription rights arising from stock
option programs, up to 10% of the share capital issued as of
the day of the resolution. Between June 18, 2008 and October
23, 2008, Daimler AG partly exercised the authorization by
repurchasing a total of 37.3 million shares representing approxi-
mately 3.87% of the share capital as of the time of the Annual
Meeting. In 2008 0.2 million shares repurchased were used to
meet subscription rights arising from stock option programs.
Insofar as the resolution issued by the Annual Meeting on
April 9, 2008 authorizing Daimler AG to acquire, until October 9,
2009, treasury shares for certain predefined purposes had
not been utilized, it was terminated by resolution of the Annual
Meeting on April 8, 2009. Simultaneously, Daimler AG was
authorized again to acquire, until October 8, 2010, treasury shares
for certain predefined purposes i. e. for the purpose of cancella -
tion or using them for business combinations or to acquire compa-
nies, up to 10% of the share capital as of the day of the resolution.
As of December 31, 2009, Daimler AG held a treasury stock
of 37.1 million shares, that were repurchased in 2008.
The unused authorization of the Annual Meeting on April 8, 2009,
to acquire treasury shares until October 8, 2010, was terminated
by resolution of the Annual Meeting on April 14, 2010. Simulta-
neously, Daimler was again authorized to acquire until April 13,
2015 treasury shares, i. e. for the purpose of cancellation or for
using them for business combinations or to acquire companies
up to 10% of the share capital issued as of the day of the resolu-
tion. This authorization has not been exercised yet.
Approximately 32.9 million shares representing €94 million of
the share capital, or approximately 3.1% of the share capital in
an amount of total €1,278 million were transferred in 2010
when the Group entered into a cross-shareholding structure with
Renault SA and Nissan Motors Company (see also Note 3). 2.4
million of these shares, representing €7 million or approximately
0.23% of the share capital in an amount of €90 million were sold
at the stock exchange to settle a cash obligation of this trans-
action.