Minority interests
Stockholders' equity
This item reflects minority interests in the equity of consolidated subsidiaries.
The authorized capital amount of NLG 600 million is divided as follows:
240,000,000 common shares, at NLG 1.25 par value
300,000 preferred shares, at NLG 1,000 par value
1995
600,000
1994
300,000 300,000
300,000 300,000
600,000
Issued and outstanding:
Common stock
Beginning of fiscal year
Shares issued as optional stock dividend
Exercise of option rights
End of fiscal year
1995 1994
150,180 145,603
4,128 4,058
953 519
155,261 150,180
Cumulative preferred stock
The Stichting Ahold Continuïteit was given an option to acquire cumulative preferred shares up to a total par value
that is equal to the total par value of all issued and outstanding common shares. Ahold on its pai t has the right to
place cumulative preferred shares with the Stichting Ahold Continuïteit up to a total par value that is equal to the
total par value of all issued and outstanding common shares.
According to the unanimous opinion of both the Company and the members of the Board of Stichting Ahold
Continuïteit, the latter is independent of the Company in the sense of Appendix X to the Listing Regulations
issued by the Amsterdam Stock Exchange Association.
In accordance with Article 39, subsection 3 of the Articles of Incorporation, the holders of cumulative preferred
stock are entitled to a primary dividend. No other preferences are attached to these shares.
There were no cumulative preferred shares outstanding during 1995 or 1994.
Stock option plans
A limited number of managers of the company and its subsidiaries have been granted option rights to purchase
common shares. The option rights are exercisable for five years or from five to ten years. I he five to ten year period
is applicable to US-employees only. Over time, stockholders' equity will be increased by 245 million, assuming
that all options will be exercised.
The options give the following rights:
Unexercised
Average
exercise price
Exerciseable
rights
per option
Through 1996
1996 through 1997
1996 through 1998
1996 through 1999
1996 through 2000
370,777
595,909
806,268
1,035,922
1,032,600
NLG 37.27
42.78
46.39
53.29
65.50
1996 through 2000
1997 through 2001
1998 through 2002
1999 through 2003
2000 through 2004
2001 through 2005
97,019
109,529
118,875
167,026
203,007
226,100
31.87
37.27
42.80
46.48
53.41
65.50
4,763,032
NLG 51.49
Internal safeguards against insider trading have been extended to cover exercise of stock options.
Annual Report 1995 Royal Ahold 49
