APC 2001 Annual Report Download - page 15

Annual Report 2001 ●Financial Highlights 10•11
Shares outstanding at Dec. 31, 2000 155,787,643
Shares issued in 2001 84,472,386
Shares cancelled 2001 -
Shares outstanding at Dec. 31, 2001 240,260,029
Potential shares at Dec. 31, 2001 6,282,562
(Square D convertible bonds and stock options)
Fully diluted shares outstanding at Dec. 31, 2001 246,542,591
Average shares outstanding in 2001 183,786,591
(used to calculate earnings per share)
Changes in the share base in 2001
Historical shareholders* 7.2%
Employees 3.0%
Treasury stock – Intragroup cross shareholdings 6.8%
Foreign investors 35.6%
French investors 47.4%
* Axa 3.5% - BNP Paribas 2.6% - AGF 0.6% - Société Générale 0.6%
Ownership structure at December 31, 2001
The Schneider Electric share in 2001
The share’s performance in 2001 was shaped
by a challenging stock market environment
and by the European Commission’s veto of the merger
with Legrand. As a result, the share declined 30.5%
over the full year, but still compared favorably
with most of its peer group.
Dividend for 2001
At the Annual Meeting, shareholders will be asked to approve
a return of capital in lieu of a dividend, corresponding
to a payment of 1.30 per share. The payment does not
give rise to a tax credit, but it is not considered as taxable
income in France. It will be paid on May 31, 2002.
Share issues
On January 15, 2001, Schneider Electric initiated a public
exchange offer for all outstanding common and preferred
shares of Legrand SA. The terms of the offer,
which were modified on June 7, 2001, were as follows:
●For common shares, a primary offer of seven
Schneider Electric SA shares for two Legrand SA shares
and a secondary offer of 16 Schneider Electric shares
for 5 Legrand SA shares.
● For preferred shares, two Schneider Electric SA shares plus
a cash payment of 55.
The public exchange offer led to the issue of 84,241,055 new
Schneider Electric shares with a par value of 8.
Employee stock ownership
At December 31, 2001, employees owned 3% of the capital
and 5.68% of the voting rights through the Employee Stock
Purchase Plan’s corporate mutual funds. A new Worldwide
Employee Stock Purchase Plan is scheduled for 2002.
Double voting rights
Double voting rights are attributed to fully paid-up shares
registered in the name of the same holder for at least
two years prior to the end of the calendar year preceding
the one in which the Annual Shareholders’ Meeting takes
place. The same is true for registered shares issued
to replace previously existing shares that enjoyed
double voting rights.