Unilever 2001 Annual Report Download - page 115

Unilever Annual Report & Accounts and Form 20-F 2001
INFORMATION ABOUT EXCHANGE
CONTROLS AFFECTING SECURITY HOLDERS
>112
NATURE OF THE TRADING MARKET
The principal trading markets upon which Unilever shares
are listed are the Euronext Stock Exchange for NV ordinary
shares and the London Stock Exchange for PLC ordinary
shares. NV ordinary shares trade in the form of Nedamtrust
Certificates and almost all the shares are in bearer form.
PLC ordinary shares are all in registered form.
In the United States, NV ordinary shares in registered form
and PLC American Depositary Receipts, representing four
PLC ordinary shares, are traded on the New York Stock
Exchange. JPMorgan Chase Bank of New York acts for
NV and PLC as issuer, transfer agent and, in respect of the
American Depositary Receipts, depositary.
At 28 February 2002 there were 8 747 registered holders
of NV ordinary shares and 750 registered holders of PLC
American Depositary Receipts in the United States. We
estimate that approximately 33% of NV’s ordinary
shareholdings were in the United States (approximately
28% in 2000), based on the distribution of the 2001 interim
dividend payments, whilst most holders of PLC ordinary
shares are registered in the United Kingdom – approximately
99% in both 2001 and 2000.
The high and low trading prices for the separate stock
exchange listings are shown in the tables on the following
page as follows:
> the quarterly high and low prices for 2001 and 2000;
> the annual high and low prices for 1999, 1998 and 1997;
and
> the monthly high and low prices for the last six months
of 2001.
NV and PLC are separate companies with separate stock
exchange listings and different shareholders. You cannot
convert or exchange the shares of one for shares of the
other and the relative share prices on the various markets
can, and do, fluctuate. This happens for various reasons,
including changes in exchange rates. However, over
time the prices of NV and PLC shares do stay in close
relation to each other, in particular because of our
equalisation arrangements.
If you are a shareholder of NV, you have a direct interest
in a Dutch legal entity, your dividends will be paid in euros
(converted into US dollars if you have shares registered
in the United States) and you will be subject to Dutch tax.
If you are a shareholder of PLC, your interest is in a United
Kingdom legal entity, your dividends will be paid in sterling
(converted into US dollars if you have American Depositary
Receipts) and you will be subject to United Kingdom tax.
Nevertheless, the Equalisation Agreement means that as
a shareholder of either company you effectively have an
interest in the whole of Unilever. You have largely equal
rights over our combined net profit and capital reserves
as shown in the consolidated accounts. (See Taxation for
US Residents on page 114 and Equalisation Agreement on
page 107).
Unilever N.V.
Under the Dutch External Financial Relations Act of
28 May 1980 the Government, the Minister of Finance
and the Central Bank of Netherlands are all authorised to
issue regulations relating to financial transactions involving
Dutch residents, if a non-Dutch resident is also involved,
or if the transactions are conducted in a foreign currency.
If regulations are issued in the future, we could be in
need of a licence for this type of transaction. To date
no regulations of this type have been issued.
Unilever PLC
None.