Philips 2011 Annual Report Download - page 216
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17 Investor Relations 17.2 - 17.2
216 Annual Report 2011
Company’s common shares. On August 10, 2011 the
Company received notification from the AFM that it had
received disclosures under the Financial Markets
Supervision Act of a substantial holding of 5.08% by the
Company in its own shares. On December 7, 2011 the
Company received notification from the AFM that it had
received disclosures under the Financial Markets
Supervision Act of a substantial holding of 5.05% by Dodge
& Cox in the Company’s common shares.
Based on a survey in December 2011 and information
provided by several large custodians, the following
shareholder portfolio information is included in the
graphs Shareholders by region and Shareholders by style.
Shareholders by region (estimated)1)
in %
North America
52
Western Europe
45
Other
3
1) Split based on identified shares in shareholder identification
Shareholders by style (estimated)1)
in %
Growth
12
Value
29
GARP3)
26
Index
9
Yield
8
Retail
7
SWF2)
3
Other
6
1) Split based on identified shares in shareholder identification
2) SWF: Sovereign Wealth
3) GARP: growth at reasonable price
Share repurchase programs for capital
reduction purposes
On July 18, 2011, Philips announced a further EUR 2 billion
share repurchase program to be completed within 12
months. Taking into consideration the volatility of the
financial markets, it was decided to extend the program
through the end of Q2 2013. In 2011, Philips completed
35% of the share buy-back program.
Further details on the share repurchase programs can be
found on the Investor Relations website. For more
information see chapter 11, Corporate governance, of
this Annual Report.
Impact of share repurchases on share count
in millions of shares
2007 2008 2009 2010 2011
Shares issued 1,143 972 972 986 1,009
Shares in treasury 78 49 45 39 83
Shares outstanding 1,065 923 927 947 926
Shares repurchased 26 146 − − 48
Shares cancelled − 170 − − −
A total of 82,880,543 shares were held in treasury by the
Company at December 31, 2011 (2010: 39,572,400
shares). As of that date, a total of 47,142,041 rights to
acquire shares (under convertible personnel debentures,
restricted share programs and stock options) were
outstanding (2010: 54,941,221).