Today, Wavin - Jaarverslag.com

Wavin Annual Report 2010 | page 11The price development of the Wavin share in 2010 compared to the AMX index is shown below.(index 31-12-2009 = 100)1501251007550WavinAMX index25JanuaryFebruariMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecemberDisclosures of substantial shareholdingsPursuant to the Dutch Financial Markets Supervision Act (Wet Financieel Toezicht), the Financial MarketsAuthority (Autoriteit Financiële Markten, AFM) publishes the notifi cation of substantial shareholdings inWavin N.V. The situation per 31 December 2010 can be found below:Substantial shareholdings (in %) per 31 December 2010:Julius Baer Multipartner SICAV 5.83%ASR Nederland N.V. 5.43%Navitas B.V. 5.18%Harris Associates L.P. 5.03%Kempen Oranje Participaties 5.01%Beheersmaatschappij Breesaap B.V. 5.00%Aviva plc 5.00%An updated overview can be found on our website www.wavin.com.Most recent IRinformation onwww.wavin.comIn the course of the year, Harris Associates L.P. notifi ed the AFM of its new 5.03% shareholding in Wavin.On 16 July, Fidelity F.I.L. Limited made a notifi cation that its shareholding in Wavin was reduced to4.98%, which is below the notifi cation threshold of 5%.Issue and acquisition of sharesThe company may issue or acquire ordinary shares subject to certain provisions of Dutch law and theArticles of Association and pursuant to approval by the General Meeting of Shareholders. Please seepage 38 of this report for further details.Protective MeasuresThe Stichting Preferente Aandelen Wavin has a call option on preference shares equal to 100% of theamount of outstanding ordinary shares at the moment the option is exercised. Please see page 39 ofthis report for more information.Dividend policyWavin is subject to restrictions on the distribution of cash dividends under its syndicated credit facilities.According to the terms of these facilities we may not pay any cash dividend in excess of € 0.01 on anyshare in our capital until 31 December 2011. Cash dividend declarations are again allowed in 2012 overthe 2011 results. According to the terms of our Forward Start Facility we will be required to prepay to thesyndicate of lending banks an amount equal to any cash dividend to be paid after 31 December 2011.This prepayment obligation will not apply if our leverage ratio under the Forward Start Facility is below2.5 at the time any such cash dividend is declared.