Share capital

Share capital and shares, 31 Dec 2017
Share capital €: 146,446,888
Number of shares: 73,206,944

Changes in share capital in 2004 - 2017

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 November 2004 Increase (bonus issue 1:1) 74,820,444 149,640,888 74,820,444
23 September 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 January 2004 Increase (stock options) 542,000 75,376,444 37,688,222
1 January 2004 74,834,444 37,417,222

Board authorisations

Repurchase of own shares: The AGM of 13 March 2018 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 13 March 2018 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 the company’s own shares as specified in the rules of the LTI plan 2014-2016. A total of 9,838 were transferred to 6 key employees.

Own shares
The company holds 44,756 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 as part of the incentive plans in 2012, 2015, 2016, 2017 and 2018.