KB prezent. angl - Komerční banka
KB prezent. angl - Komerční banka KB prezent. angl - Komerční banka
172 ➔173 Legal Information Number/nominal Number/nominal Sum of purchase Min. and max. Sum of selling Min. and max. value of acquired value of sold prices of acquired acquisition prices of selling shares shares shares price sold shares price (pcs/CZK th.) (pcs/CZK th.) (CZK th.) (CZK) (CZK th.) (CZK) Trading portfolio 1,627,516 1,624,294 3,587,584 1,817 3,568,105 1,825 813,758 812,147 2,667 2,661 Portfolio for sale 32,000 24,650 64,368 1,950 23,953 2,388 16,000 12,325 2,090 2,389 Komerční banka Global depository receipts Global depository receipts (GDRs) were issued for shares of Komerční banka administered by The Bank of New York ADR Department (shares held on its proprietary account in the Securities Centre). GDRs bear, in principle, the same rights as shares of the Bank and they may be re-converted into shares. One GDR represents one third of a share of the Bank. The GDR programme was launched at the end of June 1995 by the issue of the first block – Komerční banka entered the international capital markets, and the second issue was in 1996. From the start, the GDRs have been traded on the London Stock Exchange and in the PORTAL system (the market of the National Association of Securities Dealers, Inc.) in the US. The number of GDRs issued as at 31 December 2003 was 6,249,402. United Kingdom tax considerations The following comments below are of a general nature and are based on current United Kingdom (“U.K.”) tax law and U.K. Inland Revenue practice as at the date of this document, both of which are subject to change at any time, possibly with retrospective effect. These comments represent a summary of the principal U.K. tax consequences to a holder, who or which is resident or ordinarily resident in the U.K. or is carrying on a trade or business in the U.K. through a permanent establishment (collectively, “U.K. Holders”), of the ownership of GDRs or Shares delivered upon surrender of GDRs. It deals only with GDRs or Shares held as capital assets and does not deal with certain special classes of holders, such as dealers. Taxation of dividends and other distributions Distributions, including cash dividends paid with respect to the underlying Shares to a U.K. Holder, will generally be taxed as income of the U.K. Holder. Any Czech withholding tax paid in respect of such distributions to a U.K. Holder will generally be available as a credit against any U.K. tax liability of such U.K. Holder (and not recoverable from the Czech authorities) in respect of such distribution. Where dividends are paid by or through a U.K. paying agent or collected by a U.K. collecting agent, such agent may, in certain cases, be required to supply to the U.K. Inland Revenue details of the payment and certain details relating to the U.K. Holder (including the U.K. Holder’s name and address). U.K. Inland Revenue published practice indicates that the U.K. Inland Revenue will not exercise its power to obtain information where such dividends are paid or received during the 2003/2004 tax year which ends on 5 April, 2004. It has not yet been announced whether this practice will continue for the 2004/2005 tax year which begins on 6 April, 2004. Any information obtained may, in certain circumstances, be provided by the U.K. Inland Revenue to the tax authorities of other jurisdictions. Sale or other disposition of GDRs A U.K. Holder of GDRs may, depending on individual circumstances and subject to any available exemption or relief, be subjected to United Kingdom tax on a disposition or deemed disposition of a GDR (or of Shares acquired upon surrender of GDRs). Relief may be available for any Czech tax paid on such a disposal. There should be no liability for United Kingdom stamp duty or stamp duty reserve tax on a disposition of a GDR provided the disposition is undertaken by delivery.
Surrender of GDRs Upon surrender of a GDR to the Depositary in return for a Share, no liability for U.K. taxation should arise provided the GDR holder is the beneficial owner of the Shares. Generally, the Shares acquired from the Depositary will be acquired at a base cost equal to the cost to the U.K. Holder of acquiring the GDR surrendered. EACH PROSPECTIVE PURCHASER SHOULD CONSULT HIS, HER OR ITS OWN TAX ADVISER AS TO THE SPECIFIC TAX CONSEQUENCES OF AN INVESTMENT IN THE GDRs. Emoluments and Benefits of the Management and Statutory Bodies See Notes to the Unconsolidated Financial Statements according to CAS, Note No. 29 – Related parties, paragraph: Remuneration and equity compensation scheme of the members of the Management and Supervisory Boards. Number of Shares held by the Management and Statutory Bodies Number of shares As at 31 December 2003 Board of Directors 7,000 Directors’ Committee (excluding members of the Board of Directors shown separately above) 129 Supervisory Board 5,954 Source: Excerpt from the issuer’s register as at 31 December 2003.
- Page 123 and 124: In the year ended 31 December 2002,
- Page 125 and 126: (b) Basis of consolidation Subsidia
- Page 127 and 128: The Group assesses on a regular bas
- Page 129 and 130: (m) Sale and repurchase agreements
- Page 131 and 132: 5. Net interest income Net interest
- Page 133 and 134: Social security costs include retir
- Page 135 and 136: The balance of reserves for other c
- Page 137 and 138: 17. Cash and current balances with
- Page 139 and 140: Debt trading securities at fair val
- Page 141 and 142: Set out below is an analysis by ter
- Page 143 and 144: Debt securities available for sale
- Page 145 and 146: 25. Investments in associates and u
- Page 147 and 148: 28. Amounts due to customers Amount
- Page 149 and 150: Other provisions are composed of th
- Page 151 and 152: 35. Commitments and contingent liab
- Page 153 and 154: Remaining maturity of remaining ins
- Page 155 and 156: 2003 2002 Number of the Management
- Page 157 and 158: Loan collateral Collateral values a
- Page 159 and 160: (C) Financial derivatives The Group
- Page 161 and 162: (D) Interest rate risk Interest rat
- Page 163 and 164: CZK million On demand Up to 3 month
- Page 165 and 166: (G) Operational risk The Group does
- Page 167 and 168: Survey of Financial Results 1999 -
- Page 169 and 170: The Bank shall further carry on bus
- Page 171 and 172: Shares 38,009,852 listed ordinary b
- Page 173: Komerční banka Shares Type: ordin
- Page 177 and 178: Investments Investments made by the
- Page 179 and 180: Report on Relations Among Related E
- Page 181 and 182: Investment banking arrangements In
- Page 183: Komerční banka, a. s. Na Příkop
Surrender of GDRs<br />
Upon surrender of a GDR to the Depositary in return for a Share, no liability for U.K. taxation should arise provided the GDR holder is<br />
the beneficial owner of the Shares. Generally, the Shares acquired from the Depositary will be acquired at a base cost equal to the<br />
cost to the U.K. Holder of acquiring the GDR surrendered.<br />
EACH PROSPECTIVE PURCHASER SHOULD CONSULT HIS, HER OR ITS OWN TAX ADVISER AS TO THE SPECIFIC TAX<br />
CONSEQUENCES OF AN INVESTMENT IN THE GDRs.<br />
Emoluments and Benefits<br />
of the Management and Statutory Bodies<br />
See Notes to the Unconsolidated Financial Statements according to CAS, Note No. 29 – Related parties, paragraph: Remuneration<br />
and equity compensation scheme of the members of the Management and Supervisory Boards.<br />
Number of Shares held<br />
by the Management and Statutory Bodies<br />
Number of shares As at 31 December 2003<br />
Board of Directors 7,000<br />
Directors’ Committee (excluding members of the Board of Directors shown separately above) 129<br />
Supervisory Board 5,954<br />
Source: Excerpt from the issuer’s register as at 31 December 2003.
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