Translation of "Ohne nennwert" in English

Deposits and loans must be reported at face value , excluding accrued interests .

Deposits and loans must be reported at face value, excluding accrued interests.

These are no-par-value shares.

Krones share certificates are bearer shares without par (no-par shares).

The shares are issued as non-par value shares.

There are a total of 44,956,723 no-par-valuebearer shares.

The Bauer shares are no-nominal-value individual bearer shares.

The introduction of no par value shares is widely demanded

Usually divided into 100 ordinary shares at $ 100 each or 500 voting shares without par value.

Shares of no par value is prohibited.

Offering the possibility to have no par value shares does not necessarily require major changes in the system.

Consequently, not all securities have a nominal value and some legal systems allow securities to be issued without a "par value", in particular in the case of non-equity securities.

The ownership was shared in 15000 equal shares without nominal value between AGVO, which held 14999 shares, and Mr Miroir, Member of the City Council, with 1 share.

Securities are changed to the denomination "euro", meaning that the obligations carry the notional value in euros and Siemens' stock will be transformed from a par value share to a no-par value share.

Sulzemoos - The Executive Board of Phoenix Solar AG, Sulzemoos, Germany (ISIN DE000A0BVU93), has resolved this morning to raise the company's share capital by up to EUR 670,200.00 through the issue of up to 670,200 no par value bearer shares by way of partial utilisation of the Authorised Capital 2010. Shareholders' subscription rights will be excluded.

In this third approach, the elimination of legal capital is contemplated, along with the introduction of no-par value- shares.

Item 10: The proposal of the conditional increase of the share capital of the company of up to EUR 145,345,668.35 by issuing up to 80,000,000 new ordinary bearer shares with no par value in order to serve holders of financial instruments in accordance with § 174 of the Austrian Joint Stock Corporation Act (Aktiengesetz) in terms of item 9 is adopted with 92,1% of votes in favour.

The transaction relating to 3,959,850 new ordinary bearer shares (with no par value)(the "New Shares") has been executed by means of an accelerated bookbuilding process.

Following issue of the shares underlying the depositary interests, the Company has a total number of shares in issue of 10,696,817 common shares of no par value each.

If real no par value shares are to be introduced, the suppression of pre-emption rights needs to be reconsidered as pre-emption rights may then be the only effective protection left at EU level for shareholders against dilution.

Many argue that Article 8 of the Directive - which prohibits issues with a discount to nominal value - is the only objection, and that a system of real no par value shares is consistent with the general approach of the Directive to capital formation and maintenance rules.

The Bonds are convertible into 2,248,648 new or existing Deutsche Industrie bearer shares with no par value (the "Ordinary Shares") or may be repaid in cash.

The company’s capital stock remains unchanged at €55 million, divided into 55,000,000 registered non-par shares.

The offering will comprise a total of up to c. 2.2 million ordinary bearer shares with no par value, consisting of up to c. 2.1 million new shares from a capital increase and 150,000 existing shares offered by the current shareholders.

The share capital of the company will accordingly increase to EUR14.0 million divided into an equal number of shares without par value.

Others take the view that real no par value shares would require a more fundamental change to the system of the Directive.

If real no par value shares are to be introduced, the suppression of pre-emption rights needs to be reconsidered as pre-emption rights may then be the only effective protection left at EU level for shareholders against dilution.