Trading market
On 16 October 1996, 26 March 1997, 12 February 1998, 8 February 1999, 12 June 2001, 30 September 2004, 26 August 2004, 19 May 2005, 9 November 2005, 25 May 2006 and 27 December 2006 the company issued the following American Depositary Shares (“ADSs”) in the United States, which were outstanding at 31 December 2006:
8,000,000 Series E (“Series E ADSs”) representing 8,000,000 non-cumulative dollar preference shares,
Series E;
8,000,000 Series F (“Series F ADSs”) representing 8,000,000 non-cumulative dollar preference shares,
Series F;
10,000,000 Series G (“Series G ADSs”) representing 10,000,000 non-cumulative dollar preference shares,
Series G;
12,000,000 Series H (“Series H ADSs”) representing 12,000,000 non-cumulative dollar preference shares,
Series H;
16,000,000 Series K (“Series K ADSs”) representing 16,000,000 non-cumulative dollar preference shares,
Series K;
34,000,000 Series L (“Series L ADSs”) representing 34,000,000 non-cumulative dollar preference shares,
Series L;
37,000,000 Series M (“Series M ADSs”) representing 37,000,000 non-cumulative dollar preference shares,
Series M;
40,000,000 Series N (“Series N ADSs”) representing 40,000,000 non-cumulative dollar preference shares,
Series N;
22,000,000 Series P (“Series P ADSs”) representing 22,000,000 non-cumulative dollar preference shares,
Series P;
27,000,000 Series Q (“Series Q ADSs”) representing 27,000,000 non-cumulative dollar preference shares,
Series Q; and
26,000,000 Series R (“Series R ADSs”) representing 26,000,000 non-cumulative dollar preference shares,
Series R.
Each of the respective ADSs represents the right to receive one corresponding preference share, and is evidenced by an American Depositary Receipt (“ADR”) and is listed on the New York Stock Exchange (“NYSE”).
The ADRs evidencing the ADSs above were issued pursuant to Deposit Agreements, among the company, The Bank of New York, as depository, and all holders from time-to-time of ADRs issued thereunder. Currently, there is no non-United States trading market for any of the non-cumulative dollar preference shares. All of the non-cumulative dollar preference shares are held by the depository, as custodian, in bearer form.
In March 2006, the company redeemed the 7 million Series D non-cumulative preference shares of US$0.01 each and the 12 million Series I non-cumulative preference shares of US$0.01 each.
In January 2007, the company redeemed the 8 million Series E non-cumulative preference shares of US$0.01 each, the 10 million Series G non-cumulative preference shares of US$0.01 each and the 16 million Series K non-cumulative preference shares of US$0.01 each.
At 31 December 2006, there were 99 registered shareholders of Series E ADSs, 112 registered shareholders of Series F ADSs, 74 registered shareholders of Series G ADSs, 73 registered shareholders of Series H ADSs, 55 registered shareholders of Series K ADSs, 26 registered shareholders of Series L ADSs, 1 registered shareholder of Series M ADSs, 49 registered shareholders of Series N ADSs, 54 registered shareholders of Series P ADSs, 20 registered shareholders of Series Q ADSs and 1 registered shareholder of Series R ADSs.
On 20 August 2001, the company issued US$1.2 billion of perpetual regulatory tier one securities (‘PROs’) in connection with a public offering in the United States.
The ADSs and the PROs are listed on the NYSE.
The following table shows the high and low sales prices for each of the outstanding ADSs and PROs for the periods indicated, as reported on the NYSE composite tape:
| Figures in US$ | Series E ADSs(1) |
Series F ADSs |
Series G ADSs(1) |
Series H ADSs |
Series K ADSs(1) |
Series L ADSs |
Series M ADSs |
Series N ADSs |
Series P ADSs |
Series Q ADSs |
Series R ADSs |
PROs (2) | |
| By month | |||||||||||||
| January 2007 | High | 25.09 | 25.70 | 25.08 | 25.77 | 25.08 | 24.75 | 25.86 | 25.75 | 25.83 | 26.77 | 25.50 | 119.09 |
| Low | 25.00 | 25.26 | 24.98 | 25.21 | 24.97 | 24.02 | 25.50 | 25.40 | 25.25 | 26.17 | 24.79 | 116.00 | |
| December 2006 | High | 26.25 | 26.00 | 25.95 | 25.95 | 25.84 | 24.62 | 26.08 | 25.96 | 26.07 | 26.76 | — | 121.54 |
| Low | 25.00 | 25.29 | 24.91 | 25.17 | 24.94 | 24.02 | 25.48 | 25.41 | 25.42 | 26.13 | — | 117.66 | |
| November 2006 | High | 26.25 | 26.08 | 25.92 | 25.80 | 25.85 | 24.50 | 25.88 | 25.84 | 25.70 | 26.60 | — | 121.22 |
| Low | 25.81 | 25.75 | 25.68 | 25.55 | 25.63 | 23.99 | 25.42 | 25.38 | 25.18 | 26.20 | — | 117.80 | |
| October 2006 | High | 26.20 | 26.73 | 25.94 | 25.63 | 25.86 | 24.27 | 25.68 | 25.56 | 25.80 | 26.28 | — | 118.95 |
| Low | 25.27 | 25.93 | 25.45 | 25.31 | 25.32 | 23.80 | 25.23 | 25.21 | 24.91 | 25.97 | — | 114.47 | |
| September 2006 | High | 25.92 | 26.91 | 25.81 | 25.75 | 25.91 | 24.01 | 25.42 | 25.30 | 25.33 | 26.24 | — | 117.81 |
| Low | 25.26 | 26.25 | 25.50 | 25.30 | 25.29 | 23.17 | 25.03 | 24.82 | 24.80 | 25.65 | — | 112.29 | |
| August 2006 | High | 26.08 | 26.91 | 25.70 | 25.67 | 25.79 | 24.08 | 25.44 | 25.30 | 25.05 | 25.93 | — | 113.38 |
| Low | 25.61 | 25.80 | 25.40 | 25.36 | 25.51 | 22.64 | 24.91 | 24.61 | 24.36 | 25.48 | — | 110.14 | |
| By quarter | |||||||||||||
| 2006: Fourth quarter | High | 26.25 | 26.73 | 25.95 | 25.95 | 25.86 | 24.62 | 26.08 | 25.96 | 26.07 | 26.76 | — | 121.54 |
| Low | 25.00 | 25.29 | 24.91 | 25.17 | 24.94 | 23.80 | 25.23 | 25.21 | 24.91 | 25.97 | — | 114.47 | |
| 2006: Third quarter | High | 26.08 | 26.91 | 25.81 | 25.75 | 25.91 | 24.08 | 25.44 | 25.30 | 25.33 | 26.24 | — | 117.81 |
| Low | 25.26 | 25.58 | 25.15 | 25.16 | 25.22 | 21.71 | 24.05 | 23.69 | 23.64 | 25.08 | — | 106.96 | |
| 2006: Second quarter | High | 25.95 | 26.07 | 25.60 | 25.49 | 25.48 | 23.39 | 25.03 | 25.04 | 24.70 | 25.55 | — | 114.90 |
| Low | 25.46 | 25.45 | 25.03 | 25.01 | 25.08 | 21.15 | 23.58 | 23.32 | 22.76 | 24.67 | — | 106.06 | |
| 2006: First quarter | High | 26.38 | 27.25 | 25.90 | 25.78 | 25.86 | 24.50 | 25.62 | 25.60 | 25.35 | — | — | 122.23 |
| Low | 25.55 | 25.72 | 25.35 | 25.25 | 25.22 | 23.09 | 25.08 | 25.10 | 24.72 | — | — | 114.75 | |
| 2005: Fourth quarter | High | 26.76 | 27.83 | 26.00 | 25.91 | 26.05 | 24.19 | 25.50 | 25.45 | 25.50 | — | — | 121.96 |
| Low | 25.75 | 26.02 | 25.28 | 25.20 | 25.30 | 22.67 | 24.77 | 24.70 | 24.60 | — | — | 116.70 | |
| 2005: Third quarter | High | 27.00 | 27.45 | 26.00 | 25.96 | 26.37 | 24.90 | 26.30 | 26.23 | — | — | — | 127.58 |
| Low | 26.10 | 26.50 | 25.51 | 25.36 | 25.59 | 23.95 | 25.37 | 25.33 | — | — | — | 121.31 | |
| 2005: Second quarter | High | 27.05 | 27.30 | 25.80 | 26.19 | 26.53 | 24.40 | 25.97 | 25.38 | — | — | — | 128.54 |
| Low | 26.30 | 26.27 | 25.37 | 25.30 | 25.75 | 23.76 | 25.30 | 25.00 | — | — | — | 121.46 | |
| 2005: First quarter | High | 27.50 | 28.00 | 25.97 | 25.79 | 26.84 | 24.99 | 26.75 | — | — | — | — | 129.57 |
| Low | 26.11 | 26.26 | 25.30 | 25.26 | 25.82 | 23.31 | 25.01 | — | — | — | — | 120.03 | |
| By year | |||||||||||||
| 2006 | High | 26.38 | 27.25 | 25.95 | 25.95 | 25.91 | 24.62 | 26.08 | 25.96 | 26.07 | 26.76 | — | 122.23 |
| Low | 25.00 | 25.29 | 24.91 | 25.01 | 24.94 | 21.15 | 23.58 | 23.32 | 22.76 | 24.67 | — | 106.06 | |
| 2005 | High | 27.50 | 28.00 | 26.00 | 26.19 | 26.84 | 24.99 | 26.75 | 26.23 | 25.50 | — | — | 129.57 |
| Low | 25.75 | 26.02 | 25.28 | 25.20 | 25.30 | 22.67 | 24.77 | 24.70 | 24.60 | — | — | 116.70 | |
| 2004 | High | 29.00 | 28.45 | 25.92 | 25.87 | 28.00 | 24.68 | 26.16 | — | — | — | — | 125.14 |
| Low | 25.90 | 25.65 | 24.20 | 24.45 | 25.70 | 23.51 | 25.13 | — | — | — | — | 110.58 | |
| 2003 | High | 29.20 | 29.05 | 26.00 | 26.40 | 28.20 | — | — | — | — | — | — | 130.78 |
| Low | 27.01 | 27.03 | 25.00 | 25.10 | 26.05 | — | — | — | — | — | — | 111.06 | |
| 2002 | High | 28.20 | 28.00 | 25.73 | 26.05 | 27.30 | — | — | — | — | — | — | 116.36 |
| Low | 25.53 | 25.15 | 24.46 | 24.27 | 24.79 | — | — | — | — | — | — | 100.07 | |
Notes:
(1) Redeemed in January 2007.
(2) Price quoted as a % of US$1,000 nominal.
© 2007