Annual report 2009 - Dexia.com

General information4.5. Dexia banka Slovensko4.7. Dexia IsraelDexia banka Slovensko made a provision of EUR 100 millionin 2008 within the context of currency transactions carriedout by clients who proved to be unable to meet the margincalls caused by those transactions. In June 2009, one of theseclients commenced a court action against the bank claimingEUR 162 million for non-compliance with the legislation andwith contracts. For its part, Dexia filed pleadings applying forcompensation for the loss caused to it by that counterparty.The competent jurisdiction appointed an expert to assess theloss and the procedures of Dexia banka Slovensko, and theparties to the case instructed their own experts. Accordingto the client’s expert, the latter’s loss would amount to EUR110 million, which the bank contests, considering the actionunsubstantiated, and for which it has made no complementaryprovision. At this stage in the proceedings, Dexia is notin a position to predict the outcome.4.6. Dexia CrediopInvestigations are under way in Italy on the use by localauthorities of derivative products, and Dexia Crediop, likeother banking establishments, has been heard on its activitiesand practices by a parliamentary commission. The bankresponded to requests for documentation within the contextof the ongoing enquiries. An action has been commenced bytwo clients against the bank.Under Italian law, a debt restructuring transaction is only possibleif it leads to a reduction of the cost weighing on the localauthority. In these disputes, the legal question posed consistsof knowing whether the cost to be taken into considerationincludes hedge transactions or not. The two cases, the financialstakes of which are modest, are in their initial phase, andtheir outcome cannot be reasonably foreseen at this stage.In May 2002, a complaint was filed in relation to the purchaseby Dexia of shares held by the State of Israel claimingnon-compliance with company law. In April 2009, the CentralDistrict Court rejected the application for a class actionformulated by the complainants. In June 2009, the latterappealed to the Supreme Court, and the parties have to submittheir arguments by mid-2010 for judgement in November2010.5. Agenda of theShareholders’ MeetingsThe agendas for the Ordinary Shareholders’ Meeting and theExtraordinary Shareholders’ Meeting to be held on Wednesday12 May 2010 in Brussels are available on the Dexia SAInternet site: www.dexia.com.6. Share capital6.1. Share capital as at31 december 2009As at 31 December 2009, the share capital amounted toEUR 8,089,020,254.08, represented by 1,762,478,783 shareswithout indication of nominal value, of which 467,500,179 registeredshares, 1,278,959,732 dematerialised shares and 16,018,872bearer (physical) shares. The shares are listed on Euronext Brussels,Euronext Paris and the Luxembourg Stock Exchange.Management reportConsolidatedfinancial statementsAnnual financial statementsAdditional informationAnnual report 2009 Dexia 91