Printable PDF - Tessenderlo Group

14
Capital structure
The company did not receive any statements involving acquisitions or transfers
exceeding the disclosure limit in the past financial year.
A capital increase reserved for staff has been made every year since 1985. 138,339
shares were subscribed in 2003. Taking account of the 414,312 registered shares
recorded in the register, staff now comprises 1.52% of the total shareholder base.
On 6 November 2003, the second block of a bond loan with warrants was issued
for the group’s senior executives. This loan has a term of seven years, and is represented
by 1,250 bonds of 25 EUR each, with 40 warrants attached. The interest rate
is 4% per annum. Each warrant entitles the holder to purchase one share at the exercise
price of 26.45 EUR.
The options issued in the form of a debenture loan, which can be taken up by the
group’s senior executives, currently represent less than 0.5% of the total shares in
issue.
Dividend
On 1 June 2004, the Annual General Meeting will be requested to approve a proposed
net dividend of 0.85 EUR. This corresponds to a gross dividend of 1.1333 EUR.
The net dividend for coupons with VVPR strips attached will be 0.9633 EUR.
The net dividend of EUR 0.85 means there is no change compared to the 2000, 2001
and 2002 financial years.