Annual Report 2005 - Tenaris

The subscribed and paid up capital on December 31, 2005
is as follows:
SHAREHOLDERS
Controlling (Foreign Capital)
Management
Administrative Council
Board of Directors
Audit Council
Other shareholders
Total
Breakdown on December 31, 2004:
SHAREHOLDERS
Controlling (Foreign Capital)
Management
Administrative Council
Board of Directors
Audit Council
Other shareholders
Total
b. Retained profits reserve
Quantity of
ordinary
shares
126,800,634
15
600,003
–
393,516
127,794,168
Quantity of
ordinary
shares
126.800,634
15
600,003
–
393,516
127,794,168
Since own generation of funds is the company's main
source of financing and given the prospect of important
investments in pipelines in Brazil and South America,
the Company's main markets, at the Ordinary General
Meeting, to be held on April 18, 2006, it will be proposed
that there be a capital increase of R$ 87,000 in this reserve
and that the balance of profits remaining from the accumulated
results be retained in line with the capital budget
proposed by management.
%
99.22
–
0.47
–
0.31
100.00
%
99.22
–
0.47
–
0.31
100.00
Quantity of
preferential
shares
–
–
5,655,000
530,000
191,268,829
197,453,829
Quantity of
preferential
shares
–
–
5,655,000
489,000
191,309,829
197,453,829
%
–
–
2.86
0.27
96.87
100.00
%
–
–
2.86
0.25
96.89
100.00
Total
quantity
126,800,634
15
6,255,003
530,000
191,662,345
325,247,997
Total
quantity
126.800,634
15
6,255,003
489,000
191,703,345
325,247,997
%
38.99
–
1.92
0.16
58.93
100.00
%
38.99
–
1.92
0.15
58.94
100.00
73. Financial Statements 2005