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Mergent New Listing Report
MERGENT INDUSTRIAL
NEW LISTING
July 16, 2013
This Supplemental News Reports is published as required, is part of the annual MERGENT INDUSTRIAL and
INTERNATIONAL Manuals and will be included in the bound 2013 July Monthly News Reports and is published on
our Website.
ROYAL DSM NV
Company Website:: www.dsm.com
History: Established in the Netherlands in 1902 as
DSM N.V. Present name adopted on Mar. 3, 2006.
In 1988, Co. acquired Freeman Chemicals Ltd., UK,
Lawn Comfort S.A., Belgium.
In 1988, Co. acquired Plaine Chemicals S.A., Switzerland.
On Sept. 1, 1988, Co. disposed of DSM Agro1 s operations at Ince, UK.
On Dec. 31, 1988, Co. acquired Polymer Corp., US.
On Feb. 1, 1989, Curver Group took over Manufacturers Rodex S.A., Spain, engaged in plastic processing.
On Mar. 10, 1989, Co. acquired the rubber producer
Copolymer Rubber & Chemical Corp., US, for an
amount of approximately NLG500,000,000.
On Apr. 14, 1989, DSM Resins, a subsidiary of Co.,
acquired a majority interest in Fiberpachs, Spain, a producer of glassfiber-reinforced polyester parts for the
automotive industry.
On Dec. 15, 1989, Co. sold its VCM/PVC interests,
including a 50% share in Limburgse Vinyl Maatschappij
N.V., to Tessenderlo Chemie N.V., Belgium.
In June 1990, DSM Resins, a subsidiary of Co.,
acquired ERF Plastics Ltd., UK, and Vitroplast SA,
Spain. Both companies are engaged in the production of
molded parts of glassfiber-reinforced polyester for
motorcars and trucks.
During 1991, Co. disposed of a number of subsidiary
and associated companies, including Methanol Chemie
Nederland V.o.F. (50% DSM), DSM Agro Specialties
(DAS), the PCM companies (non-flexible packaging)
and Curver PCM.
In Mar. 1991, Co. acquired BWR Bizerba Werkstoffsysteme und Fahrzeugbau GmbH, Germany, a supplier
of fibre-reinforced polyesters, compounds and mouldings.
At the end of Mar. 1991, Co.’s acquired ACF Chemie.
In Oct. 1991, Co. acquired the oil and gas exploration
and production activities of Koninklijke Nedlloyd Groep
N.V.
On Dec. 31, 1991, Co. took over the engineering plastics activities of Akzo N.V. (now Akzo Nobel N.V.).
In 1992, DSM Plastic Products sold its subsidiary
Pixley Richards West, US, in a management buy-out.
In 1992, Co.’s subsidiary Curver Rubbermaid
expanded into Eastern Europe through a 60% interest
acquisition in Curver Rubbermaid Kft., Hungary, (formerly known as Pannonplast).
At the end of 1992, Co. reached an agreement for the
transfer of NVCP Chemical B.V.’s activities to HCI
Europe B.V.
In Jan. 1992, Co.’s subsidiary DSM Elastomers
acquired the thermoplastic elastomers activities of
Novacor Chemicals Inc., Canada.
In Oct. 1992, DSM Fine Chemicals sold its surfactants
subsidiary, Chem-Y, Germany, to Kao Corp., Japan.
In 1993, Stamicarbon B.V. was merged with DSM
Engineering.
During 1993, Co. made the following divestments:
B.V. Computer Centrum Nederland, the remaining 29%
interest in Macintosh N.V., the retail activities of
Agararische Unie-Vulcaan B.V., Daniel Products and
Pixley Richards Inc., both located in the US.
In Mar. 1993, DSM Andeno (part of DSM Fine Chemicals) acquired the fine-chemical activities of the former
Squibb-Von Heyden plants in Regensburg, Germany,
from Bristol-Myers Squibb Co., US.
In 1994, Co. divested Kupron Prototypes B.V., Contex Expeditie B.V., and Fardem Ltd., UK.
In 1994, Co. increased its interest in ACF Minera,
Chile, from 50% to 60%.
In Jan. 1994, Co.’s subsidiary The Polymer Corp., US,
acquired a 25% interest in Plasticos de Mantenimiento
S.A. de C.V., Mexico.
On Jan. 1, 1994, Co.’s 50%-50% joint venture with
Gist-Brocades N.V., Chemferm, began operations.
Chemferm specializes in semi-synthetic cephalosporins
for the pharmaceutical industry.
On June 1, 1994, Co. acquired the remaining 40%
interest in the Curver Group.
In the spring of 1995, Co. transferred the Fardem
packaging activities in Edam and Beerse (Belgium) to
Schuttersveld Holding.
In 1995, Co. disposed of its interest in Fardem.
In June 1995, Co., through its subsidiary Performance
Polymers, formed a joint venture with Jangsu Jangyin
Mould Plastic Group Company. Co. holds a 50% interest
in the venture.
In Sept. 1995, Co., through its subsidiary DSM
Resins, acquired the unsaturated polyester resins business of the German chemicals company Huels.
In Sept. 1995, the joint venture between Co.’s subsidiary DSM Andeno and Gist-brocades, and Shandong
Xinhua Pharmaceutical Factory (China), formed the
joint venture Xinhua-Chemferm in which Co. holds a
51% interest.
In Oct. 1995, Co., through its subsidiary DSM
Andeno, acquired a minority interest in Alpha Drug
India Ltd.
In Oct. 1995, Co. formed a joint venture with Exxon
Chemical for the production and sale of plastomers, a
new generation of advanced polymers. Co. holds a 50%
interest in the venture.
In 1996, Co. formed a 50/50 joint venture between
itself and Tosoh, a Japanese company, to be called the
Holland Sweetner Company, for the production and marketing of the artificial sweetner aspartame.
On Jan. 18, 1996, Co. finalized the acquisition of a
majority share in Chemie Linz GmbH. Co. acquired a
70% interest, while Austrian OMV AG retained a 30%
interest. The agreement between Co. and OMV provides
for a possible transfer of the remaining 30% in the future.
In 1998, Co. acquired Gist-brocades, a supplier to the
pharmaceutical and food industries.
In 1998, Co. took over the 30% minority interest in
Chemie linz held by OMV AG.
On May 11, 1998, Co. completed the merges of Royal
Gist-Brocades N.V. and Koninklijke Gist-Brocades N.V.
In 1999, DSM Food Specialties acquired the French
company Laboratoires Oenotechnique (wine ingredients), thus strengthening the position of Beverage Ingredients.
In 1999, Co. acquired the unsaturated polyester resins
business of Bayer Italia.
In 1999, Co. acquired a minority share (20%) in the
PETLIN joint venture in Malaysia
In Apr. 1999, Co., through its business unit, DSM
Acrylonitrile, and Repsol (Spain), through its affiliate
Repsol Quimica, signed a agreement to establish a 50/50
joint venture in which they will combine their acrylonitrile marketing, sales and trading activities for countries
outside the European Union and the European Economic
Area. The joint venture, by the name of Companex, will
be headquarted in Sittard (Netherlands).
During 2000, Co.’s subsidiary, DSM Anti-Infectives
increased it’s stake in Max-GB Ltd. from 50% to 74%.
During 2000, Co. divested DSM Composite Resins’
Compounds business and DSM Bakery Ingredients’
Pastry business, as well as a subsidiary of the DSM Fine
Chemicals Australia business unit.
In Dec. 2000 Co. and South Richmond Chemicals,
LLC, established the joint venture Georgia Monomers
Company, LLC for the production of caprolactam. Co.’s
stake in this venture is 55%.
On Dec. 18, 2000, Co. acquired Catalytica
Pharmaceuticals of Mountain View, California. The
acquisition values Catalytica at $800,000,000. Effective
Jan. 1, 2001, Catalytica will operate as a business unit of
the Sittard (Netherlands) based business group DSM
Fine Chemicals and will also operate under the name
DSM Catalytica Pharmaceuticals.
During 2001, Co.’s subsidiary, DSM Anti-Infectives
increased it’s stake in Max-GB Ltd. from 74% to 95%.
On Jan. 1, 2001, Co. sold DSM Engineering Plastic
Products to Quadrant Holding AG.
On Dec. 28, 2001, Co. sold the depositary receipts in
Energie Beheer Nederland BV for 1,243,000,000.
In 2002 DSM Bakery Ingredients sold part of its
pastry activities.
Effective May, 1, 2002, DSM Melapur BV, part of
DSM Venturing & Business Development but operating
for DSM Fine Chemicals, was taken over by CIBA Specialty Chemicals.
Effective June 28, 2002, Co.’s petrochemical activities based in Geleen and Gelsenkirchen were sold to
Saudi Basic Industries Corporation.
In 2006, Co. acquired CRINA SA, the remaining 73%
of the share capital of Lipid Technologies Provider AB
and the remaining 50% of the share capital of Fersinsa
GB SA de CV.
On Jan. 19, 2006, Co. sold its interest in DSM Minera
for a total cash consideration of Euro74 million.
In July 2007, Co. acquired 100% of the cosmetic
active ingredients specialist Pentapharm Holding Ltd.
On Jan. 16, 2008, Co. announced the acquisition of the
U.S. based company Soluol.
On Feb 14, 2008, Co., through its subsidiary DSM
Food Specialties, acquired CMT Srl.
In May 2008, Co. acquired 100% of the shares of The
Polymer Technology Group, Inc. (PTG) for a total consideration of Euro107 million.
On July 11, 2008, Co. acquired the business & substantially all of the assets of Valley Research, Inc. of
South Bend, Indiana (United States).
On Aug. 27, 2008, Co., through its subsdiary DSM
Venturing, acquired a 29.3% interest in Provexis plc.
In 2009, Co. acquired Biopract GmbH.
In 2009, Co.acquired Nylon Polymer Comoany LLC.
On Sept. 30, 2009, Co. sold DSM Energie Holding
B.V. to TAQA Abu Dhabi National Energy Company
PJSC.
On Oct. 6, 2009, Co. sold Stamicarbon B.V. to Marie
Tecnimont S.p.A.
In 2010, Co. disposed of its interests in DSM Agro and
DSM Melamine to Orascom Construction Industries.
In the second quarter of 2011, Co. completed the sale
of DSM Elastomers (Keltan3⁄4) to LANXESS for
Euro338,000,000 on a cash and debt-free basis.
In the third quarter of 2011, Co. completed the formation of the DSM Sinochem Pharmaceuticals joint ven-
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ture, which is consolidated on a 50% proportionate basis
from Sept. 1, 2011 onwards.
In July 2011, Co. acquired a 51% stake in AGI Corporation of Taiwan, through a subscription for newly issued
shares combined with a public tender offer, for a total
consideration of Euro41,000,000.
In Oct. 2011, Co. acquired a majority share of 91.75%
in Shandong ICD, High Performance Fiber Co., Ltd.
In Feb. 2012, Co. acquired 100% of the shares of
Martek Biosciences Corporation, for a total consideration of Euro789,000,000.
On Apr. 8, 2013, Co. completed the acquisition of
Tortuga Companhia Zootecnica Agraria (Tortuga), a
nutritional supplements company with a focus on pasture
raised beef and dairy cattle for a total enterprise value of
about Euro440,000,000 (R$1,160,000,000).
On July 1, 2013, Co. acquired Unitech Industries Limited, a New Zealand based producer of nutritional products for both human and animal markets.
On July 2, 2013, Co. acquired the industrial custom
premix for feed millers business of Bayer in the Philippines.
Business: Royal DSM is engaged in providing products and services in Life Sciences and Materials Sciences. Co.’s products and services are used globally in a
range of markets and applications, including human and
animal nutrition and health, personal care, pharmaceuticals, automotive, coatings and paint, electrical and electronics, life protection and housing. Co.’s activities are
organized in two main segments which are further broken down into two business clusters: Life Sciences
which includes Nutirition and Pharma; and Materials
Sciences which includes Performance Materials and Polymer Intermediates.
Property: Co. maintains its head office in Heerlen, the
Netherlands.
Subsidiaries
(Wholly owned unless otherwise indicated)
DSM Transportmaatschappij B.V.
DSM Hydrocarbons BV
DSM Acetylene BV
DSM Polyethylenes BV
DSM Polyolefine GmbH (Denmark)
DSM Performance Polymers BV
DSM ASP BV
DSM Polyolefine GmbH (Denmark)
DSM Specialty Compounds NV (Belgium)
JGP Ltd. (United Kingdom)
Jiangsu DSM Specialty Compounds Company Ltd.
(China (Peoples Rep. Of)) (60%)
DSM Engineering Platics BV
DSM Engineering Platics (Emmen) BV
DSM Engineering Platics Inc. (United States)
DSM Engineering Platics Ltd. (Canada)
DSM EP Far East (Singapore)
DSM-JSR Engineering Plastics KK (Japan) (51%)
DSM Elastomers Europe BV
DSM Elastomers Asia Pte. Ltd. (Singapore)
DSM Thermoplastic Elastomers BV
DSM High Performance Fibers BV
DSM Copolymer Inc. (United States)
DSM Theromoplastic Elastomers Inc. (United States)
DSM Elastomeros Brasil Ltda. (Brazil)
DSM Fibre Intermediates BV
DSM Chemicals North America Inc. (United States)
DSM RIM Nylon VoF
DSM Melamine BV
DSM Melamine Americas Inc. (United States)
PT DSM KALTIM Melamine (India) (60%)
DSM Agro BV
DSM Agro France SA (France)
DSM Agro Belgium NV (Belgium)
DSM Agro Deutschland GmbH (Denmark)
Moreels NV (Belgium)
Vulcaan BV
DSM Andeno Bv
DSM Andeno Maarssen BV
DSM Andeno GmbH (Denmark)
DSM Chemie Linz GmbH
Alpha Drug India Ltd. (India) (57%)
DSM Minera Sa (Chile)
Derivados del Etilo, SA (Deretil) (El Salvador)
DSM Special Products BV
DSM Special Products Rotterdam BV
DSM Resins International BV
DSM Resins Espana SA (El Salvador)
DSM Resines France SA (France)
DSM Resins Scandinavia AB
DSM Resins (Far East) Ltd. (Pin-Tung Hsien, Taiwan)
(60%)
DSM Italia SrL (Italy)
DSM Desotech Bv
DSM Desotech Inc. (United States)
DSM Resins US Inc. (United States)
DSM Resins UK Ltd. (United Kingdom)
DSM Compounds Deutschland GmbH (Denmark)
DSM Compounds UK Ltd. (United Kingdom)
DSM-BASF Structural Resins VoF (60%)
DSM-BASF Structural Resins GmbH (Denmark) (60%)
Euroresins Benelux BV
Euroresins Italia SrL (Italy)
Euroresins SA (El Salvador)
Fiber Kemi A/S (Norway)
Freeman Distribution Ltd. (United Kingdom)
DSM Engineering Plastic Products BV
ERTA NV (Belgium)
Erta-Plastic GmbH (Denmark)
Axxis NV (Belgium)
DSM Engineering Plastic Products SA (France)
DSM Engineering Plastic Products UK Ltd. (United
Kingdom)
Polypenco BV
Polypenco Canada Inc. (Canada)
Polypenco Kunststofftechnik GmbH (Denmark)
Polypenco SrL (Italy)
DSM-Kenkyo EPP Ltd. (Hong Kong) (70%)
MERGENT INDUSTRIAL
July 16, 2013
Teraglobus Kft (Hungary) (51%)
DSM Engineering Plastic Products Inc. (United States)
Sheffield Plastics Inc. (United States)
Alpha Precision Plastics Inc. (United States)
Polypenco PTY (Zaire) (80%)
DSM Epp Surlon India Ltd. (India) (51%)
DSM Energie Holding BV
DSM Services BV
DSM Sales Offices Bv
Stamicarbon BV
DSM Acrylonitrile BV
Reko BV
DSM Limburg BV
DSM Research BV
DSM New Business Development BV
DSM Solutech BV
DSM Melapur BV
NV Pensioenveraekeringsmaatschappij DSM
Energie Beheer Nederland BV
Associate & Joint Venture
(Wholly owned unless otherwise indicated)
DSM Sinochem Pharmaceuticals, Ltd. (Hong Kong)
(50%)
DEX-Plastomers VoF (50%)
Percivia LLC (United States) (50%)
Xinhui Meida - DSM Nylon Chips Co. Ltd. (China (Peoples Rep. Of)) (25%)
Officers
Rob Routs, Chairman
Ewald Kist, Deputy Chairman
Feike Sijbesma, Chief Executive Officer
Rolf-Dieter Schwalb, Chief Financial Officer
Directors
Rob Routs, Chairman of the Supervisory Board
Ewald Kist, Deputy Chairman
Victoria Haynes, Director
Pierre Hochuli, Director
Eileen Kennedy, Director
Tom de Swaan, Director
Pauline van der Meer Mohr, Director
Auditors: Ernst & Young Accountants LLP
Shareholder Relations: Dave Huizing, Head of Investor Relations Tel.: +31 45 578 2864
Annual Meeting: In May
No. of Stockholders: Dec. 31, 2012, 570
No. of Employees: Dec. 31, 2012, 23,495
Address: Het Overloon 1, Heerlen, Limburg, 6411
TE, Netherlands Tel: 31 45 578 2864 E-mail: investor.relations@dsm.com Web: www.dsm.com
Consolidated Income Account, years ended Dec. 31
(in millions of Euro):
2012
2011
(revised)
9,193
(6,625)
2,568
(892)
(381)
(493)
196
(70)
(1,640)
928
(99)
18
(4)
1 2010
(revised)
9,050
(6,598)
2,452
(856)
(338)
(380)
135
(211)
(1,650)
802
(102)
12
.......
Net sales . . . . . . .
9,131
Cost of sales . . . . .
(6,748)
Gross margin . . . .
2,383
Marketing & sales
(952)
Research & devel
(383)
Gen & admin . . . .
(552)
Other oper inc . . .
83
Other oper exps . .
(138)
Tot oper exps . . . .
(1,942)
Oper profit . . . . . .
441
Int costs . . . . . . . .
(102)
Int inc . . . . . . . . .
12
Exch differences . .
(4)
Result fr other
secur . . . . . . . .
(1)
4
6
Sundry . . . . . . . . .
1
(1)
(9)
Other finl inc &
exp . . . . . . . . .
.......
140
.......
Tot other net fin
income
(expense) . . . . .
8
157
9
Sh of profit of
associates . . . . .
2
3
5
Profit bef inc tax
exp . . . . . . . . .
349
989
714
Inc tax exp . . . . . .
(51)
(129)
(189)
Profit for the yr . . .
298
860
525
Profit attrib to
non-controlling
interests . . . . . .
10
46
18
Net profit attrib to
eq holders of
Royal DSM
N.V. . . . . . . . .
288
814
507
Common shares( in millions):
Weigh avg ordinary
shares outstg basic . . . . . . . .
166
166
164
Weigh avg ordinary
shares outstg diluted . . . . . . .
167
167
165
Yr end shares
outstg . . . . . . . .
169
163
166
Basic earn per sh
Eu1.68
Eu4.86
Eu3.03
Diluted earn per sh
Eu1.67
Eu4.82
Eu3.01
Total number of
2 23,495
2 22,224
2 21,911
employees . . . .
1 Reclassified to conform with 2011 presentation
2 As is
Consolidated Balance Sheet, as of Dec. 31 (in millions of Euro):
2012
Assets:
Goodwill, net . . . .
Licenses & patents,
net . . . . . . . . . .
Under construction,
net . . . . . . . . . .
Devel projects, net
..
1,888
1 2011
(revised)
1,112
..
99
63
..
..
124
24
115
18
Other intang assets,
net . . . . . . . . . . . .
658
478
Intang assets . . . . . . .
2,793
1,786
Prop, plt & equip,
gross . . . . . . . . . .
8,265
7,651
Deprec & impair
losses . . . . . . . . . .
(4,454)
(4,246)
Prop plt & equip . . . .
3,811
3,405
Defer tax assets . . . .
340
292
Associates . . . . . . . .
40
35
Other finl assets . . . .
141
135
Tot non-curr assets . .
7,125
5,653
Inventories . . . . . . . .
1,803
1,573
Trade accts receiv . . .
1,544
1,536
Defer items . . . . . . .
26
19
Receivs fr associates
22
16
Adj for bad debts . . .
(23)
(20)
Trade receivs . . . . . .
1,569
1,551
Other receiv . . . . . . .
230
153
Finl derivatives . . . .
62
50
Curr invests . . . . . . .
12
89
Cash & cash equivs
1,121
2,058
Tot curr assets bef
assets held for sale
4,797
5,474
Other assets held for
sale . . . . . . . . . . .
44
30
Tot curr assets . . . . .
4,841
5,504
Tot assets . . . . . . . . .
11,966
11,157
Liabilities:
Sh capital . . . . . . . . .
338
338
Sh premium . . . . . . .
489
489
Treas shares . . . . . . .
(479)
(698)
Other reserves . . . . .
235
274
Retain earn . . . . . . . .
5,291
5,381
Royal DSM N.V.
shhlders eq . . . . . .
5,874
5,784
Non-controlling
interests . . . . . . . .
168
190
Tot eq . . . . . . . . . . .
6,042
5,974
Defer tax liabil . . . . .
236
192
Empl benefits liabil
388
322
Provs . . . . . . . . . . . .
125
116
Borrow . . . . . . . . . .
1,922
2,029
Other non-curr liabil
94
69
Tot non-curr liabil . .
2,765
2,728
Empl benefits liabil
42
6
Provs . . . . . . . . . . . .
81
43
Borrow . . . . . . . . . .
642
160
Finl derivatives . . . .
299
326
Trade pays . . . . . . . .
1,453
1,348
Other curr liabil . . . .
628
557
Tot curr liabil bef
liabil held for sale
3,145
2,440
Other liabil held for
sale . . . . . . . . . . .
14
15
Tot curr liabil . . . . . .
3,159
2,455
Tot liabil & stkhlders
eq . . . . . . . . . . . .
11,966
11,157
1 Reclassified to conform with 2012 presentation
Long Term Debt: Dec. 31, 2012, Euro2,564,000,000
(including current portion Euro642,000,000) comprised
of:
(1) Euro1,734,000,000 fixed interest rate debenture
loans, bearing interest from 4.00% to 5.75%, maturing
2005-2017.
(2) Euro320,000,000 private loans bearing interest
from floating rates to 5.61%, maturing 2003-2015.
(3) Euro4,000,000 finance lease liabilities.
(4) Euro506,000,000 credit institutions/commercial
paper.
Capital Stock: 1. Royal DSM NV cumulative preference shares A (nominal value of Euro1.50); no par.
AUTHORIZED
44,040,000 shs.
OUTSTANDING
Dec. 31, 2012, 44,040,000 shs; no
par.
STOCK SPLITS
Euro3.00 par shares split 1-for-3 on
Sept. 10, 1999.
DIVIDEND RIGHTS
The annual dividned amounts
to 6.78% of the issue price of Euro10.59 per share.
2. Royal DSM NV ordinary (nominal value of
Euro1.50); no par.
OUTSTANDING
Dec. 31, 2012, 168,684,088 shs;
no par.
TREASURY
12,740,912 shs.
STOCK SPLITS
Euro3.00 par shares split 1-for-3 on
Sept. 10, 1999; split in the form of a 100% stock dividend on Sept. 2, 2005.
DIVIDENDS
1991 . . . . . 2.65 1992 . . . . . 8.00 1993 . . . . . 1.35
1994 . . . . . 2.00 1995 . . . . . 7.50 1996 . . . . . 8.65
1997 . . . . . 9.35 1998 . . . . 10.35 1999 . . . . . 4.54
After 200% split:
2000 . . . . . 1.52 2001 . . . . . 1.82 2002-2005 . 1.75
After 100% split:
2006 . . . . . 1.04 2007 . . . . . 1.00 2008 . . . . . 1.27
2009-2010 . 1.20 2011 . . . . . 1.40 2012 . . . . . 1.48
2013 . . . . . 1.02
OPTIONS
Dec. 31, 2012, outstanding, 13,110,484.
PRIMARY EXCHANGE
Euronext (EUR): RDSMY
PRICE RANGE
Amsterdam (in NLG):
1998 1997 1996 1995 1994
High . . . . . . . . . . 223.40 160.50 181.40 147.90 156.5
Low . . . . . . . . . . 138.00 185.20 130.00 116.50 105.6
(in Euro):
2011 2010 2009 2008 2007
High . . . . . . . . . . 46.82 42.85 34.84 41.27 39.87
Low . . . . . . . . . . 30.54 30.43 16.93 15.76 31.63
CAPITAL HISTORY
In 2000, the par value of Co.’s
ordinary shares was changed from NLG6.67 to
Euro3.00.
3. Royal DSM NV American Depositary Receipts;
no par.
Four American Depositary Receipt equals one Common share.
STOCK SPLITS
No par shares split in the form of a
100% stock dividend on Sept. 9, 2005.
July 16, 2013
DIVIDENDS
1991 . . . . . 0.29 1992
1994 . . . . . 0.23 1995
1997 . . . . . 0.93 1998
After 200% split:
2000 . . . . . 0.27 2001
2003 . . . . . 0.33 2004
MERGENT INDUSTRIAL
. . . . . 0.96 1993 . . . . . 0.16
. . . . . 1.01 1996 . . . . . 0.95
. . . . . 1.08 1999 . . . . . 0.90
. . . . . 0.30 2002 . . . . . 0.27
. . . . . 0.36 2005 . . . . . 0.38
After 100% split:
2006 . . . . . 0.22 2007 . . . . . 0.25 2008 . . . . . 0.37
2009 . . . . . 0.30 2010 . . . . . 0.29 2011 . . . . . 0.38
2012 . . . . . 0.39 2013 . . . . . 0.28
DEPOSITARY
Deutsche Bank
PRIMARY EXCHANGE
National Bulletin Board
(NBB): RDSM Y
Page 3
PRICE RANGE
2012
2011
2010
2009
High . . . . . . . . . .
15.55
17.33
14.35
13.06
Low . . . . . . . . . .
11.42
10.19
9.21
5.20