Unilever 2007 Annual Report Download - page 111

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Unilever Annual Report and Accounts 2007 109
Financial statements continued
Notes to the consolidated accounts Unilever Group
22 Share capital
€ million € million
Called up share capital 2007 2006
Ordinary share capital of NV 274 274
Ordinary share capital of PLC 210 210
484 484
Issued, Issued,
Number Nominal Number called up and called up and
of shares Authorised Authorised value of shares fully paid fully paid
Ordinary share capital authorised 2007 2006 per share issued 2007 2006
€ million € million € million € million
NV ordinary shares 3 000 000 000 480 480 €0.16 1 714 727 700 274 274
NV ordinary shares (shares numbered
1 to 2 400 – ’Special Shares’) 11 €428.57 2 400 11
Internal holdings eliminated
on consolidation (€428.57 shares) ––(1) (1)
481 481 274 274
£ million £ million £ million £ million
PLC ordinary shares 4 377 075 492 136.2 136.2 31⁄9p 1 310 156 361 40.8 40.8
PLC deferred stock 100 000 0.1 0.1 £1 stock 100 000 0.1 0.1
Internal holding eliminated
on consolidation (£1 stock) ––(0.1) (0.1)
136.3 136.3 40.8 40.8
Euro equivalent in millions (at £1.00 = €5.143) 210 210
For information on the rights of shareholders of NV and PLC and the operation of the Equalisation Agreement, see Corporate governance on
pages 40 and 41.
At the Annual General Meetings of NV and PLC held on 8 May and 9 May 2006 respectively, shareholders approved proposals that the NV
ordinary shares be split in the ratio 3 to 1 and that the PLC ordinary shares be consolidated in the ratio 9 to 20. At the same time, amendments
were made to NV’s Articles of Association to convert into euros the share capital amounts previously denominated in Dutch guilders. Following
these changes, which became effective on 22 May 2006, the nominal value of each NV ordinary share is €0.16 and the nominal value of each
PLC ordinary share is 31⁄9p. A nominal dividend of 6% is paid on the deferred stock of PLC, which is not redeemable.
Internal holdings
The ordinary shares numbered 1 to 2 400 (inclusive) in NV (‘Special Shares’) 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. For
information on the rights related to the aforementioned ordinary shares, see Corporate Governance on pages 39 and 40. The subsidiaries
mentioned above have waived their rights to dividends on their ordinary shares in NV.
Share-based compensation
The Group operates a number of share-based compensation plans involving options and awards of ordinary shares of NV and PLC. Full details
of these plans are given in note 29 on pages 117 to 119.