Unilever 2007 Annual Report Download - page 141

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Unilever Annual Report and Accounts 2007 139
Shareholder information continued
Shareholder information continued
Nature of the trading market
The principal trading markets upon which Unilever shares are
listed are Euronext Amsterdam for NV depositary receipts of
ordinary and preference shares and the London Stock Exchange
for PLC ordinary shares. NV ordinary shares mainly trade in the
form of depositary receipts for shares.
In the United States, NV ordinary shares and PLC American
Depositary Receipts are traded on the New York Stock Exchange.
Citibank, N.A. acts for NV and PLC as issuer, transfer agent and,
in respect of the American Depositary Receipts, depositary.
There have not been any significant trading suspensions in the
past three years.
At 1 March 2008 there were 6 104 registered holders of NV
New York Registry shares and 790 registered holders of PLC
American Depositary Receipts in the United States. We estimate
that approximately 18% of NV’s ordinary shares were held in the
United States (approximately 21% in 2006), while most holders
of PLC ordinary shares are registered in the United Kingdom –
approximately 99% in 2007 and in 2006.
NV and PLC are separate companies with separate stock exchange
listings and different shareholders. Shareholders 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. Each NV ordinary share now represents the same
underlying economic interest in the Unilever Group as each PLC
ordinary share (save for exchange rate fluctuations).
If you are a shareholder of NV, you have an 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 may be subject to tax in the Netherlands. If you are a
shareholder of PLC, your interest is in a UK legal entity, your
dividends will be paid in sterling (converted into US dollars if you
have American Depositary Receipts) and you may be subject to
UK 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 Equalisation Agreement on pages 40
and 41.
The high and low trading prices for the separate stock exchange
listings are shown in the tables on the following page.