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TRADING
Novartis shares are listed in Switzerland and
traded on virt-x, an exchange for pan-European blue chip shares. The American
Depositary Shares (ADSs) are listed on the New York Stock Exchange. Novartis shares
are also traded on the International Retail Service (IRS) of the London Stock
Exchange.
WIDELY DISPERSED SHAREHOLDINGS
Novartis shares are widely
held. As of December 31, 2005, Novartis had approximately 160 000 shareholders
(2004: 171 000) registered in its share register. Based on the Novartis AG share
register approximately 53% (2004: 58%) of the Novartis AG shares that are registered
by name are held in Switzerland and 36% are held by approximately 850 holders
in the USA (2004: 30% and 1 100 holders, respectively). The above numbers are
not representative of the actual number of beneficial owners located in Switzerland
or the US since certain shares are held by brokers or other nominees. Approximately
14% of the shares registered in the share registry are held by retail or individual
investors whilst 86% are held by institutions such as banks, nominees, insurers,
pension funds and investment funds. A total of 22% of the Novartis AG shares are
not entered in the share register.
LIMITATION OF REGISTRATION, VOTING RIGHTS
AND MAJOR SHAREHOLDERS
No person or entity shall be registered with the right to vote for more than 2%
of the share capital as set forth in the Commercial Register. The Board of Directors
may allow exemptions from the limitation for registration in the share register.
Based upon information available to the Group, shareholders owning 2% or more
of Novartis AG’s capital at December 31 are listed in the table below:
In
addition: | •
| Nortrust Nominees, London, holds
2.5% (2004: 2.3%) and JPMorgan Chase Bank, New York, holds 8.3% (2004: 7.6%) of
the registered shares, respectively as nominees. | | •
| JPMorgan Chase Bank, the depositary
for the shares represented by American Depositary Shares may be registered with
up to 11% of the share capital. |
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