Siemens 2010 Annual Report Download - page 194

6 To our shareholders 21 Corporate Governance 49 Combined management’s discussion and analysis
50 Business and operating environment
78 Fiscal  – Financial summary
81 Results of operations
98 Financial position
110 Net assets position
113 Overall assessment of the economic position

We constantly strive to develop new technologies, new
products and solutions as well as to improve existing ones:
We invest in new technologies that we expect to meet future
demands in accordance with the four strategic megatrends
demographic change, urbanization, climate change and glo-
balization (for further information, see “Business and operat-
ing environment – Strategy – Global megatrends”). The focus
areas of our research and development activities include smart
grids, the technology for electric vehicles, including their inte-
gration into these smart grids, as well as concentrated solar
power that plays an important role in accelerating the imple-
mentation of the DESERTEC concept.
LEGAL PROCEEDINGS
For information on legal proceedings, see “Notes to Consoli-
dated Financial Statements.”
Information required pursuant
to § () and § () of the
German commercial code (HGB)
and explanatory report
COMPOSITION OF COMMON STOCK
As of September , , the Company ’s common stock to-
taled €. billion (: €. billion) divided into
,, (: ,,) registered shares with no par
value and a notional value of €. per share. The shares are
fully paid in. In accordance with § () of the Company ’s Arti-
cles of Association, the right of shareholders to have their
ownership interests evidenced by document is excluded, un-
less such evidence is required under the regulations of a stock
exchange on which the shares are listed. Collective share cer-
tificates may be issued. Pursuant to § () of the German
Stock Corporation Act (Aktiengesetz, AktG), only those persons
recorded in the Company ’s stock register will be recognized as
shareholders of the Company. For purposes of recording the
shares in the Company ’s stock register, shareholders are re-
quired to submit to the Company the number of shares held by
them and their e-mail address if they have one and, in the case
of individuals, their name, address and date of birth, or in the
case of legal entities, their company name, business address
and registered offices.
All shares confer the same rights and obligations. At the An-
nual Shareholders’ Meeting, each share of stock has one vote
and accounts for the shareholders’ proportionate share in the
Company ’s net income. Excepted from this rule are treasury
shares held by the Company, which do not entitle the Company
to any rights. The shareholders’ rights and obligations are
governed by the provisions of the German Stock Corporation
Act, in particular by §, §a et seq., § et seq., and § of
the German Stock Corporation Act.
RESTRICTIONS ON VOTING RIGHTS
OR TRANSFER OF SHARES
Shares issued to employees under our former employee stock
schemes until  are subject to company-imposed private
law restrictions on disposal for two to five years. As a matter of
principle, eligible employees may not dispose of any shares
transferred to them in this way prior to the expiration of the
vesting period. Shares issued to employees worldwide under
the stock scheme implemented since the beginning of fiscal
, i.e., the Share Matching Plan, are freely transferable – to