|Share capital and shares, 31 Dec 2016|
|Share capital €:||146,446,888|
|Number of shares:||73,206,944|
Changes in share capital in 2004 - 2016
|Date||Cause||Change, €||Share capital, €||No. of shares|
|7 May 2007||Reduction (invalidation of own shares)||-||146,446,888||73,206,944|
|16 March 2006||Reduction (invalidation of own shares)||2,320,000||146,446,888||73,223,444|
|15 March 2005||Reduction (invalidation of own shares)||874,000||148,766,888||74,383,444|
|19 Nov 2004||Increase (bonus issue 1:1)||74,820,444||149,640,888||74,820,444|
|23 Sept 2004||Increase (stock options)||348,000||74,820,444||37,410,222|
|28 April 2004||Increase (stock options)||216,000||74,472,444||37,236,222|
|22 March 2004||Reduction (invalidation of own shares)||1,120,000||74,256,444||37,128,222|
|19 Jan 2004||Increase (stock options)||542,000||75,376,444||37,688,222|
|1 Jan 2004||74,834,444||37,417,222|
Repurchase of own shares: The AGM of 20 March 2017 authorised the Board of Directors to buy back a maximum of 3.5 million of the company’s own shares, which equals 4.8 per cent of the total number of shares of the company. These shares will be bought back using distributable earnings from unrestricted equity. The authorisation is valid until the end of the next Annual General Meeting and for no longer than 18 months.
Share issue: The AGM of 20 March 2017 authorised the Board to resolve on issuing a maximum of 7.2 million new shares or transferring the company’s own shares, amounting in total to approximately 9.8 per cent of the total number of the shares of the company. The Board of Directors was authorised to resolve on all the conditions of the issuance of shares. The authorisation is valid until the end of the next Annual General Meeting.
On 13 February 2017, the Board decided on transferring 11,141 of the company’s own shares to 7 key employees, as specified in the rules of the plan 2014-2016.
Acting on the share issue authorisations, the Board resolved on 15 March 2012 on a directed share issue and transferred 19,622 of the company’s own shares to current and former Executive Committee members, as specified in the rules of the Long-Term Incentive plan. On 13 February 2015, the Board transferred 42,818 of the company’s own shares to 10 key employees, as specified in the rules of the share-based incentive plan 2012-2014. Further, on 12 February 2016, the Board transferred 28,601 of the company’s own shares to 9 key employees, as specified in the rules of the plan 2013-2015.
The company holds 57,818 of its own shares, originating from the repurchase of 160,000 shares in Nov-Dec 2008, for use in the company's share-based incentive programmes. The Board has transferred a part of the shares (see above) as part of the incentive plans in 2012, 2015, 2016 and 2017.