Mercedes 2012 Annual Report Download - page 216

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7 | Consolidated Financial Statements | Notes to the Consolidated Financial Statements
20. Equity
See also the consolidated statement of changes in equity
 7.0 4 .
The share capital is divided into no-par value shares. All shares
are fully paid up. Each share confers the right to one vote
at the Annual Shareholders’ 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. Each share represents a proportionate amount
of approximately €2.87 of the share capital. For the development
of shares issued or outstanding see  7. 42 .
Treasury shares. By resolution of the Annual Shareholders’
Meeting on April 14, 2010, the Board of Management, with
the consent of the Supervisory Board, was authorized until
April 13, 2015 to acquire treasury shares for all legal purposes
in a volume up to 10% of the share capital issued as of the
day of the resolution. The authorization applies for example
to the purchase of shares for the purpose of cancellation,
for using them for business combinations or to acquire compa-
nies, or for disposal in other ways than through the stock
exchange or by offering them to all shareholders. This authori-
zation has not been exercised in the reporting period.
Through a final verdict reached by the higher regional court
in Frankfurt am Main in November 2009, the exchange ratio
specified in the domination and profit and loss transfer agree-
ment between the former Daimler-Benz AG and the former
AEG AG from 1988 as well as the compensation payment
for unpaid AEG dividends determined in this agreement had
been increased for the benefit of those AEG shareholders.
In 2010, Daimler AG began to perform the claims of former AEG
shareholders by using treasury shares held by the company
at that time. The remaining 0.2 million treasury shares
as of December 31, 2010 representing €0.6 million or 0.02%
of the share capital were transferred to former AEG share-
holders to satisfy their claims to additional Daimler shares.
Furthermore in 2011, simultaneously to the continuing enforce-
ment of claims of the former AEG shareholders to additional
Daimler shares, a further 0.1 million treasury shares worth
a total of €7 million were purchased and transferred to former
AEG shareholders to satisfy their claims to additional Daimler
shares. These treasury shares represented €0.4 million or 0.01%
of the share capital.
In 2012, a further 0.005 million treasury shares worth a total
of €0.21 million, representing €0.01 million or 0.0004% of
the share capital, were purchased and transferred to former
AEG shareholders. 0.017 million treasury shares worth a total
of €0.63 million, representing €0.05 million or 0.002% of
the share capital, were retransferred to Daimler AG as they could
not be transferred to the authorized AEG shareholders. These
shares were sold immediately for a total of €0.62 million
on the stock exchange; the profit from the transaction was
recognized within retained earnings.
As was the case at December 31, 2011, no treasury shares are
held by Daimler AG at December 31, 2012.
Employee share purchase plan. In 2012, 0.5 million Daimler
shares representing €1.5 million or 0.05% of the share
capital were purchased for a price of €25 million and reissued
to employees (2011: 0.6 million Daimler shares representing
€2 million or 0.06% of the share capital were purchased for a price
of €28 million).
Development of shares issued
2012 2011
In millions of shares
Shares issued on January 1 1,066 1,066
Reacquired shares not cancelled
(share buyback program) previous years
.
.
Shares outstanding on January 1 1,066 1,066
Repurchase of treasury shares to settle
obligations towards former AEG shareholders
.
.
Utilization of treasury shares due to the
settlement of obligations towards former
AEG shareholders
.
.
Shares repurchased in the share buyback
program and not cancelled (previous years)
-1
-1
Reissued shares to employees in the
employee share purchase plan
1
1
Creation of new shares by exercise
of stock options
2
.
Shares outstanding/issued on December 31 1,068 1,066
7. 4 2