The share capital stood at € 396,058,633.50 at December 31 2010, unchanged from December 31 2009, and comprised 792,117,267 shares each with a nominal value of € 0.50.
At December 31 2010 the Company owned 43,074,000 of its own shares (5.44% of capital) for a value of € 98,657 thousand, unchanged from December 31 2009.
In application of IAS 32, the own shares held by the Parent Company of the Group are deducted from equity.
The share capital is fully subscribed and paid up. No shares have any rights, privileges or limitations on the distribution of dividends with the exception of the own shares held as treasury stock.
It should be noted that the Board of Directors was authorized for a period of five years starting from April 30 2009 to increase, once or more than once, the share capital up to a maximum of € 500 million (nominal value) and by a further maximum of € 20 million (nominal value) in favour of employees of the Company, its subsidiaries and parent companies.
The Board of Directors also has the right for a period of five years from April 30 2010 to issue, once or more than once, convertible bonds or bonds with warrants attached, up to an amount which, taking into account the bonds in circulation at the date on which the issuance is approved, shall not exceed the maximum limits set out in current regulations at the moment when the resolution is adopted by the Board.