APC 2005 Annual Report Download - page 27

Download and view the complete annual report

Please find page 27 of the 2005 APC annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 164

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164

25
Three-year summary of changes in capital
Changes in the share capital since December 31, 2002 as a result of the exercise of stock options, shares issued
to the Employee Share Purchase Plan and share cancellations on March 5, 2003 and December 9, 2004 were
as follows:
Number of shares Total shares New capital
issued or cancelled outstanding
Capital at Dec. 31, 2002 240,812,905 1,926,503,240 euros
Cancellation of shares (12,000,000)
Exercise of stock options 1,958,180
Shares issued to the ESPP
(2003 worldwide plan) 1,071,085
Capital at Dec. 31, 2003 (1) 231,842,170 1,854,737,360 euros
Cancellation of shares (7,000,000)
Exercise of stock options 646,160
Shares issued to the ESPP
(2004 worldwide plan) 705,847
Capital at Dec. 31, 2004 (2) 226,194,177 1,809,553,416 euros
Exercise of stock options 425,050
Capital at Dec. 31, 2005 (3) 226,619,227 1,812,953,816 euros
(1)
71.77 million decrease in capital stock,
316.61 million decrease in additional paid-in-capital.
(2)
45.18 million decrease in capital stock,
240.90 million decrease in additional paid-in-capital.
(3)
3.40 million increase in capital stock,
19.04 million increase in additional paid-in-capital.
3
Ownership structure
Dec. 31, 2005 Dec. 31, 2004 Dec. 31, 2003
Capital Number of Voting Number of Capital Voting Capital Voting
% shares rights voting % rights % rights
% rights % %
Caisse des Dépôts 4.44 10,062,852 5.48 13,237,852 4.45 5.39 4.34 5.23
Employees 3.35 7,586,325 5.82 14,045,608 3.76 6.22 3.62 6.00
Schneider Electric
shares held via
Cofibel/Cofimines 0.95 2,150,352 - - 0.95 - 0.93 -
Treasury stock 2.61 5,919,759 - - 2.25 - 2.90 -
Public 88.65 200,899,939 88.70 214,215,319 88.59 88.39 88.21 88.77
Total 100.00 226,619,227 100.00 241,498,779 100.00 100.00 100.00 100.00
Stock buybacks
The Annual Shareholders' Meeting of May 6, 2004
authorized the Board of Directors to buy back shares
on the open market. Pursuant to this authorization, the
Company purchased 6,658,783 shares at an average
unit price of 54.37. At its meeting of December 9,
2004, the Board of Directors used the authorization
granted by the Annual Shareholders' Meeting of May
6, 2004 to cancel 7 million shares bought back by the
Company pursuant to authorizations granted by the
Annual Shareholders' Meetings of May 27, 2002, May
16, 2003 and May 6, 2004.
The Annual Shareholders’ meeting of May 12, 2005
authorized the Board of Directors to buy back shares.
Pursuant to this authorization, the Company pur-
chased 203,071 shares at an average unit price of
57.96 on February 16, 2006. Trading fees paid in
2005 totaled 216,693, of which 6,600 related to the
use of the authorization granted on May 12, 2005.
Stock exchange tax on share buybacks during the
year amounted to 21,449, of which 1,990 related to
the use of the authorization granted on May 12, 2005.
General Presentation of Schneider Electric SA