TomTom 2005 Annual Report Download - page 80

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80
17.฀Shareholders’฀equity
2004฀ 2005
Number฀of฀authorised฀ordinary฀shares฀(in฀000s)฀ 9,000฀ 333,000
Number฀of฀authorised฀preference฀shares฀(in฀000s)฀ 0฀ 166,500
Number฀of฀issued฀and฀fully฀paid฀ordinary฀shares฀(in฀000s)฀ 1,824฀ 107,281
Par฀value฀per฀share฀(in฀
)฀ 0.01฀ 0.20
The฀Company’s฀authorised฀capital฀amounts฀to฀

99,900,000฀and฀is฀divided฀into฀333,000,000฀ordinary฀
shares,฀each฀with฀a฀nominal฀value฀of฀twenty฀cents฀and฀
166,500,000฀preference฀shares,฀each฀with฀a฀nominal฀
value฀of฀twenty฀cents.
During฀the฀Global฀Offer฀in฀May฀2005฀the฀Company฀issued฀
7,142,857฀new฀ordinary฀shares฀at฀a฀price฀of฀

17.50฀per฀
share฀which฀are฀listed฀at฀Eurolist฀(Eurolist฀by฀Euronext฀
Amsterdam฀NV).฀In฀addition,฀138,616฀new฀ordinary฀
shares฀were฀issued฀to฀Nick฀Kaufmann฀Limited฀as฀part฀of฀
his฀remuneration฀as฀Financial฀Advisor฀to฀the฀company฀
during฀the฀Global฀Offer.
Recapitalisation
At฀the฀incorporation฀of฀TomTom฀Nederland฀BV฀in฀April฀
2005,฀TomTom฀Group฀BV฀contributed฀all฀of฀the฀shares฀it฀
held฀in฀TomTom฀BV฀to฀TomTom฀Nederland฀BV,฀in฀exchange฀
for฀100,000,000฀TomTom฀Nederland฀BV฀shares฀with฀a฀
nominal฀value฀of฀

0.20฀each.฀Following฀the฀incorporation฀
of฀TomTom฀Nederland฀BV,฀TomTom฀Group฀BV฀was฀merged฀
into฀TomTom฀Nederland฀BV,฀and฀TomTom฀Group฀BV฀
ceased฀to฀exist.
As฀a฀consequence฀of฀this฀legal฀merger,฀TomTom฀
Nederland฀BV฀acquired฀100,000,000฀of฀its฀own฀shares,฀
and฀immediately฀cancelled฀those฀shares.฀Also฀as฀a฀
consequence฀of฀the฀merger,฀the฀Selling฀Shareholders,฀as฀
the฀four฀shareholders฀of฀TomTom฀Group฀BV,฀became฀
shareholders฀of฀TomTom฀Nederland฀BV.฀
Each฀of฀the฀Selling฀Shareholders฀therefore฀effectively฀
exchanged฀456,069฀shares฀of฀TomTom฀Group฀BV฀for฀
25,000,000฀newly-issued฀shares฀of฀TomTom฀Nederland฀
BV฀as฀a฀consequence฀of฀the฀legal฀merger.
As฀a฀result฀of฀the฀above,฀immediately฀following฀and฀subject฀
to฀the฀execution฀of฀the฀Deed฀of฀Amendment฀in฀May,฀each฀
of฀the฀Selling฀Shareholders฀held฀25,000,000฀of฀the฀issued฀
and฀outstanding฀shares฀ofTomTom฀Nederland฀BV.฀
TomTom฀Nederland฀BV฀was฀converted฀to฀TomTom฀NV฀by฀
a฀deed฀of฀conversion฀and฀amendment฀to฀the฀Articles฀of฀
Association฀on฀13฀May฀2005.