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Unilever Annual Report & Accounts and Form 20-F 2000 Financial Statements
64
Notes to the consolidated accounts
Unilever Group
Unilever Annual Report & Accounts and Form 20-F 2000Unilever Annual Report & Accounts and Form 20-F 2000
21 Called up share capital
Nominal Number Allotted,
value of shares called up and
Authorised per share allotted fully paid
2000 1999 2000 1999
Preferential share capital
Fl. million NV Fl. million
75 75 7% Cumulative Preference Fl. 1 000 29 000 (a) 29 29
200 200 6% Cumulative Preference Fl. 1 000 161 060 (a) 161 161
75 75 4% Cumulative Preference Fl. 100 750 000 (a) 75 75
65 65 10 cents Cumulative Preference Fl. 0.10 211 473 785 21 21
415 415 286 286
Ordinary share capital
NV
1 120 1 120 Ordinary: (1999 and 2000) Fl. 1.12 571 575 900 640 640
(1998) Fl. 1 640 165 000 (a)
22 Ordinary (Shares numbered
1 to 2 400 – ‘Special Shares’) Fl. 1 000 2 400 (a) 22
—— Internal holdings eliminated in consolidation (Fl. 1 000 shares) (2) (2)
1 122 1 122 640 640
Total NV share capital 926 926
Euro equivalent in millions 420 420
£ million PLC £ million
136.2 136.2 Ordinary: (1999 and 2000) 1.4p 2 911 458 580 40.8 40.8
(1998) 1.25p 3 260 695 640 (b)
(1997) 1.25p 3 260 613 800 (b)
0.1 0.1 Deferred £1 stock 100 000 (a) 0.1 0.1
—— Internal holdings eliminated in consolidation (£1 stock) (0.1) (0.1)
136.3 136.3 Total PLC share capital 40.8 40.8
Euro equivalent in millions (at £1 = Fl. 12 = 5.445) 222 222
(a) The number of these shares in issue was the same for each of the years 1996 to 1998.
(b) The increase in PLC ordinary shares and share premium account is due to the issue of shares under the PLC 1985 Executive Share
Option Plans.
The 7% , 6% and 4% preference shares of NV are entitled to dividends at the rates indicated. The 10 cents preference shares of NV are
entitled to a dividend of 65% of the six months Euribor interest rate on their notional value of Fl. 14.50 each. A nominal dividend of 1⁄4%
is paid on the deferred stock of PLC.
The 4% cumulative preference capital of NV is redeemable at par at the Company‘s option either w holly or in part. The Company has
agreed that it w ill not buy back the 10 cents cumulative preference share capital of NV before 9 June 2004. At any time after this date, at
the Company’s option, Fl. 14.40 of the notional value of the preference shares is convertible into ordinary NV shares and the remaining
notional value is then redeemable. The Company expects to exercise the conversion right if any preference shares remain outstanding
after 1 December 2004. The other classes of preferential share capital of NV and the deferred stock of PLC are not redeemable.
Each shareholder of NV has one vote for each Fl. 0.10 of capital held of whatever class. Each shareholder of PLC has one vote for each
1.4p of capital held. N.V. Elma and United Holdings Limited (see ‘Internal holdings’ on page 65) may not, by law, exercise any votes in
general meetings of shareholders of NV, and United Holdings Limited may not exercise any votes in general meetings of PLC.
In accordance w ith the Equalisation Agreement and the Articles of Association of NV and PLC, if either or both companies go into
liquidation, the amounts available for distribution amongst shareholders are applied firstly to the repayment of preferential capital and
arrears of dividends on preferential capital, and secondly to the distribution to ordinary shareholders of any reserves that have arisen
under the Equalisation Agreement. Any remaining surplus is then pooled and distributed amongst the holders of ordinary shares of both
companies such that the amount payable on each Fl. 12 nominal of ordinary capital of NV is equal at the relevant rate of exchange to
the amount payable on each £1 nominal of ordinary capital of PLC. The holders of PLC‘s deferred stock are only entitled to repayment
of capital.
The reduction in the number of NV and PLC ordinary shares in issue during 1999, and the change in the nominal values of the shares, arose
from the consolidation of the ordinary share capitals, which together with the payment of a special dividend, was approved at the Annual
General M eeting of each company on 4 May 1999. The consolidation of the NV ordinary shares w as on the basis of 100 new shares of