Unilever 2008 Annual Report Download - page 108

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Notes to the consolidated accounts Unilever Group
Unilever Annual Report and Accounts 2008 105
Financial statements
16 Financial liabilities
€ million € million
Financial liabilities 2008 2007
Preference shares 124 124
Bank loans and overdrafts 1 377 1 212
Bonds and other loans
At amortised cost 8 477 7 907
Subject to fair value hedge accounting 801 –
Finance lease creditors 207 311
Derivatives 219 95
11 205 9 649
All the preference shares and the bank loans and overdrafts are valued at amortised cost.
€ million € million
Financial liabilities – additional details 2008 2007
The repayments fall due as follows
Within one year:
Bank loans and overdrafts 746 785
Bonds and other loans 3 853 3 239
Finance lease creditors 24 65
Derivatives 219 77
Total due within one year 4 842 4 166
After one year but within two years 1 364 1 087
After two years but within three years 751 1 325
After three years but within four years 948 34
After four years but within five years 830 797
After five years 2 470 2 240
Total due after more than one year 6 363 5 483
Secured financial liabilities 34 5
Of which secured against property, plant and equipment ––
€ million € million € million € million
Issued,
Number Nominal Number called up
of shares value of shares and fully Statutory
authorised Authorised per share issued paid Reserve Total
Preference shares NV as at 31 December 2008
7% Cumulative Preference 75 000 32 €428.57 29 000 12 1 13
6% Cumulative Preference(a) 200 000 86 €428.57 161 060 69 4 73
4% Cumulative Preference 750 000 32 €42.86 750 000 32 2 34
Share premium 44
150 117 7 124
Preference shares NV as at 31 December 2007
7% Cumulative Preference 75 000 32 €428.57 29 000 12 1 13
6% Cumulative Preference(a) 200 000 86 €428.57 161 060 69 4 73
4% Cumulative Preference 750 000 32 €42.86 750 000 32 2 34
Share premium 44
150 117 7 124
(a) The 6% cumulative preference shares are traded in the market in units of one tenth of their nominal value.
The 4%, 6% and 7% cumulative preference shares of NV are entitled to dividends at the rates indicated. The 4% preference capital of NV is
redeemable at par at the company‘s option either wholly or in part. The other classes of preferential share capital of NV are not unilaterally redeemable
by the company.
At the Annual General Meeting of NV held on 8 May 2006 it was agreed to convert the nominal value of all classes of shares from guilders into euros.
The 7% and 6% preference shares with a nominal value of Fl.1 000 each, were converted into shares with a nominal value of €428.57 each, and the
4% preference shares with a nominal value of Fl.100 each, were converted into shares with a nominal value of €42.86 each. The effect of this
conversion was to adjust their reported value, with the difference being held as a statutory reserve. In order to maintain the same economic rights for
the preference shares as before the euro conversion, it was decided that their entitlement to dividend and liquidation proceeds remains linked, using the
official euro conversion rate, to the amount in Dutch guilders originally paid up on these shares. The euro conversion did not alter the dividend
entitlements of the cumulative preference shares.