Unilever 2003 Annual Report Download - page 113

110 Unilever Annual Report & Accounts and Form 20-F 2003
Notes to the consolidated accounts
Unilever Group
21 Called up share capital
€ million € million
Issued, Issued,
Number € million € million Nominal Number called up and called up and
of shares Authorised Authorised Preferential share capital value of shares fully paid fully paid
authorised 2003 2002 NV per share issued 2003 2002
75 000 34 34 7% Cumulative Preference €453.78 29 000 13 13
200 000 91 91 6% Cumulative Preference €453.78 161 060 73 73
750 000 34 34 4% Cumulative Preference €45.38 750 000 34 34
650 000 000 29 29 5 euro cents Cumulative Preference €0.05 211 473 785 10 10
188 188 130 130
Ordinary share capital
NV
1 000 000 000 508 508 Ordinary €0.51 571 575 900 290 290
Ordinary (Shares numbered 1
2 400 11 to 2 400 – ‘Special Shares’) €453.78 2 400 11
Internal holdings eliminated
–– on consolidation (€453.78 shares) (1) (1)
509 509 290 290
Total NV share capital 420 420
Number of shares £ million £ million Ordinary share capital £ million £ million
authorised 2003 2002 PLC 2003 2002
9 726 834 428 136.2 136.2 Ordinary 1.4p 2 911 458 580 40.8 40.8
100 000 0.1 0.1 Deferred £1 stock 100 000 0.1 0.1
Internal holdings eliminated on
–– 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 = €5.445) 222 222
For NV share capital, the euro amounts shown above and elsewhere in this document are representations in euros on the basis of Article 67c
of Book 2 of the Civil Code in the Netherlands, rounded to two decimal places, of underlying amounts of share capital in Dutch guilders,
which have not been converted into euros in NV’s Articles of Association. Until conversion formally takes place by amendment of the Articles
of Association the entitlements to dividends and voting rights are based on the underlying Dutch guilder amounts.
The 7%, 6% and 4% preference shares of NV are entitled to dividends at the rates indicated. The €0.05 preference shares of NV are entitled
to a dividend of 65% of the six months Euribor interest rate on their notional value of €6.580 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 wholly or in part.
NV has agreed that it will not buy back the 5 euro cents cumulative preference shares of the company before 9 June 2004. At any time
after this date, at NV’s option, €6.534 of the notional value of the preference shares is convertible into ordinary NV shares and the
remaining notional value is then redeemable. NV 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.
For information on the rights of shareholders of NV and PLC and the operation of the Equalisation Agreement, see ‘Control of Unilever’
on pages 152 to 155.
Internal holdings
The ordinary shares numbered 1 to 2 400 (inclusive) in NV and deferred stock of PLC are held as to one half of each class by N.V. Elma –
a subsidiary of NV – and one half by United Holdings Limited – a subsidiary of PLC. This capital is eliminated on consolidation. It carries the right
to nominate persons for election as Directors at general meetings of shareholders. The subsidiaries mentioned above have waived their rights to
dividends on their ordinary shares in NV. For more information see ‘Control of Unilever’ on pages 152 to 155.
Share options
The Group operates a number of equity-based compensation plans involving options over ordinary shares of NV and PLC. Full details of these
plans are given in note 29 on page 116.