Report & accounts 2002 in full - Unilever

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Unilever N.V. Under the Dutch External Financial Relations Act of 28 May 1980 the Government, the Minister of Finance and the Central Bank of Netherlands are all authorised to issue regulations relating to financial transactions involving Dutch residents, if a non-Dutch resident is also involved, or if the transactions are conducted in a foreign currency. If regulations are issued in the future, we could be in need of a licence for this type of transaction. To date no regulations of this type have been issued. The principal trading markets upon which Unilever shares are listed are the Euronext Stock Exchange for NV ordinary shares and the London Stock Exchange for PLC ordinary shares. NV ordinary shares trade in the form of Nedamtrust Certificates and almost all the shares are in bearer form. PLC ordinary shares are all in registered form. In the United States, NV ordinary shares in registered form and PLC American Depositary Receipts, representing four PLC ordinary shares, are traded on the New York Stock Exchange. JPMorgan Chase Bank of New York acts for NV and PLC as issuer, transfer agent and, in respect of the American Depositary Receipts, depositary. The NV ordinary shares are also listed on the stock exchanges in London, France, Germany and Switzerland. These shares were also listed in Belgium until 31 December 2002 and in Luxembourg until 24 January 2003. At 28 February 2003 there were 7 963 registered holders of NV ordinary shares and 901 registered holders of PLC American Depositary Receipts in the United States. We estimate that approximately 21% of NV’s ordinary shareholdings were in the United States (approximately 33% in 2001), based on the distribution of the 2002 interim dividend payments, whilst most holders of PLC ordinary shares are registered in the United Kingdom – approximately 99% in both 2002 and 2001. The high and low trading prices for the separate stock exchange listings are shown in the tables on the following page. Unilever Annual Report & Accounts and Form 20-F 2002 Information about exchange controls 143 affecting security holders Unilever PLC None. Nature of the trading market NV and PLC are separate companies with separate stock exchange listings and different shareholders. You cannot convert or exchange the shares of one for shares of the other and the relative share prices on the various markets can, and do, fluctuate. This happens for various reasons, including changes in exchange rates. However, over time the prices of NV and PLC shares do stay in close relation to each other, in particular because of our equalisation arrangements. If you are a shareholder of NV, you have an interest in a Netherlands legal entity, your dividends will be paid in euros (converted into US dollars if you have shares registered in the United States) and you will be subject to Netherlands tax. If you are a shareholder of PLC, your interest is in a United Kingdom legal entity, your dividends will be paid in sterling (converted into US dollars if you have American Depositary Receipts) and you will be subject to United Kingdom tax. Nevertheless, the Equalisation Agreement means that as a shareholder of either company you effectively have an interest in the whole of Unilever. You have largely equal rights over our combined net profit and capital reserves as shown in the consolidated accounts. (See Taxation for US residents on pages 145 and 146 and Equalisation Agreement on pages 138 and 139.) Shareholder information
144 Nature of the trading market Share prices at 31 December 2002: The share price of the ordinary shares at the end of the year was for NV €58.55 and $61.71 and for PLC 591p and $38.25. Monthly high and low prices for the last six months of 2002: Unilever Annual Report & Accounts and Form 20-F 2002 July August September October November December NV per €0.51 ordinary share in Amsterdam (in €) High 67 62 62 65 64 59 Low 50 57 58 60 59 56 NV per €0.51 ordinary share in New York (in $) High 66 61 60 64 65 62 Low 50 56 56 59 58 58 PLC per 1.4p ordinary share in London (in pence) High 610 616 599 632 633 593 Low 473 555 568 578 573 562 PLC per American Share in New York (in $) Quarterly high and low prices for 2002 and 2001: High 37 38 37 39 39 38 Low 30 34 35 36 36 35 2002 1st 2nd 3rd 4th NV per €0.51 ordinary share in Amsterdam (in €) High 68 72 67 65 Low 62 63 50 56 NV per €0.51 ordinary share in New York (in $) High 60 67 66 65 Low 54 57 50 58 PLC per 1.4p ordinary share in London (in pence) High 592 659 616 633 Low 545 554 473 562 PLC per American Share in New York (in $) High 35 39 38 39 Low 32 32 30 35 2001 1st 2nd 3rd 4th NV per €0.51 ordinary share in Amsterdam (in €) High 68 71 71 66 Low 56 59 55 56 NV per €0.51 ordinary share in New York (in $) High 65 60 63 58 Low 50 52 52 50 PLC per 1.4p ordinary share in London (in pence) High 574 605 610 573 Low 478 497 480 485 PLC per American Share in New York (in $) High 35 35 35 34 Low 28 29 28 28 Annual high and low prices for 2000, 1999 and 1998: 2000 1999 1998 NV per €0.51 ordinary share in Amsterdam (in € (a) ) High 71 74 77 Low 42 49 49 NV per €0.51 ordinary share in New York (in $) High 64 88 89 Low 40 50 59 PLC per 1.4p (1998: 1.25p) ordinary share in High 584 695 702 London (in pence) Low 335 401 457 PLC per American Share in New York (in $) High 35 47 46 Low 22 27 32 (a) Amounts previously reported in guilders have been restated and are now reported in euros using the fixed conversion rate of €1.00 = Fl. 2.20371 that became effective on 1 January 1999.
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Disclaimer Notes to the Annual Repo
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A truly multi-local multinational U
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2 General information The Unilever
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4 Financial highlights at current r
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6 Chairmen’s statement responded
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8 Our code of business principles C
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10 About Unilever Home & Personal C
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12 About Unilever We reduced the im
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14 About Unilever Description of ou
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16 Operating review - highlights 20
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18 Operating review by region Europ
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22 Operating review by region Bango
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24 Operating review by category - F
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32 Operating review by category - H
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36 Financial review The decrease is
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38 Financial review equivalent of
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40 Financial review • Innovation:
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42 Corporate governance Organisatio
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44 Corporate governance Nomination
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46 Corporate governance Biographica
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48 Corporate governance Business Pr
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50 Remuneration report Remuneration
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52 Remuneration report Details of t
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54 Remuneration report Directors’
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56 Remuneration report Remuneration
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58 Remuneration report Supplementar
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60 Remuneration report In addition,
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62 Financial statements - Contents
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64 Statement of directors’ respon
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66 Accounting information and polic
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68 Accounting information and polic
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70 Consolidated statement of total
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Page 95 and 96: 92 Notes to the consolidated accoun
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Page 131 and 132: 128 Principal group companies and f
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Page 151 and 152: 148 Cross reference to Form 20-F PA
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Report & accounts 2002 in full - Unilever

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