Siemens 2007 Annual Report Download - page 272

272 Notes to Consolidated Financial Statements
(in millions of €, except where otherwise stated and per share amounts)
On February 22, 2001, the Company’s shareholders authorized the Managing
Board to increase, with the approval of the Supervisory Board, common stock by
up to €400 through the issuance of up to approximately 133 million shares for
offer to existing shareholders until February 1, 2006 (Authorized Capital 2001/I).
As mentioned above, Authorized Capital 2001/I was replaced by resolution of the
Annual Shareholders’ Meeting on January 22, 2004.
Conditional capital (unissued)
Conditional capital to service the 2001 and 1999 Siemens Stock Option Plan
amounts to €157, representing 52,317 thousand shares of Siemens AG as of Sep-
tember 30, 2007. Conditional capital to service the 2001 and 1999 Siemens Stock
Option Plan amounted to €191, representing 63,797 thousand shares of Siemens
AG, in the year ended September 30, 2006.
Conditional capital provided to service the issuance of bonds with conversion
rights or warrants amounts to €702 and €734, representing 234,162 thousand and
244,507 thousand shares of Siemens AG as of September 30, 2007 and 2006,
respectively.
By resolution of the Annual Shareholders’ Meeting on January 22, 2004, Condi-
tional Capital 2003 of €267 (representing 89 million shares) was terminated. The
Company’s shareholders authorized the Managing Board to issue bonds in an
aggregate principal amount of up to €11,250 with conversion rights (convertible
bonds) or with warrants entitling the holders to subscribe to up to 200 million
new shares of Siemens AG, representing a pro rata amount of up to €600 of the
capital stock. Since the Conditional Capital 2003 has partly been utilized, the new
Conditional Capital 2004 permits the issuance of shares under the new authoriza-
tion and the issuance of shares to service bonds issued under the old authoriza-
tion. Therefore, as of September 30, 2007, total Conditional Capital 2004 allows
the issuance of up to €702 representing 234,162 thousand shares of Siemens AG.
The authorization will expire on January 21, 2009.
By resolution of the Annual Shareholders’ Meeting on February 22, 2001, con-
ditional share capital of €147 was approved to service the 2001 Siemens Stock
Option Plan (Conditional Capital 2001). In addition, conditional capital amounting
to €10 and €44 as of September 30, 2007 and 2006, respectively, provides to ser-
vice the 1999 Siemens Stock Option Plan and the 2001 Siemens Stock Option Plan
(Conditional Capital 1999).
In each of the years ended September 30, 2007 and 2006, conditional capital of
€0.6, representing 188 thousand shares of Siemens AG, provides for the settlement
offered to former shareholders of SNI AG who had not tendered their SNI AG share
certifi cates. Claims of such shareholders to get shares of Siemens AG are time-
barred so that as of September 30, 2007 no more shares of Siemens AG have to be
issued from the conditional capital provided for the settlement offered to former
shareholders of SNI AG.
By resolution of the Annual Shareholders’ Meeting on January 23, 2003, the
Managing Board was authorized to issue bonds in an aggregate principal amount
of up to €5 billion with conversion rights (convertible bonds) or with warrants