Annual report and accounts 2008

Notes contents

Notes to the consolidated financial statements
As of December 31, 2008, 2007 and 2006

21.Share capital

Share capital and share premium

The authorised share capital of the Company totals 133,333,200 registered shares (2007: 133,333,200). As at December 31, 2008, the total subscribed and fully paid-in share capital and premium was $643 million (2007: $417 million) consisting of 108,297,507 (2007: 102,428,260) registered common shares at a par value of $1.50 (2007: $1.50) each.

In 2008, the Company issued a total of 5,869,247 new shares (2007: 1,744,380 new shares), resulting from:

• - 169,056 new shares (2007: 1,625,872 new shares) following the exercise of share options;
• - 77,720 new restricted shares to employees and directors (2007: 89,822); and
• - 5,622,471 new shares following the conversion of the 4% Convertible Notes (2007: 28,686).