| | The
Novartis AG share capital consists of registered shares with a nominal value of
CHF 0.50 each. The total share capital reduced from
CHF 1 388.6 million at December 31, 2004 to CHF 1 369.6 million at December 31,
2005 due to a share capital reduction and subsequent cancellation of 38 039 000
shares with a nominal value of CHF 19 019 500 approved at the Annual General Meeting
of March 1, 2005, which became effective on May 25, 2005.
The total share capital reduced from CHF 1 400.7 million at December 31, 2003
to CHF 1 388.6 million at December 31, 2004 due to a share capital reduction and
subsequent cancellation of 24 260 000 shares with a nominal value of CHF 12 130
000 approved at the Annual General Meeting of February 24, 2004, which became
effective on June 10, 2004. | | Treasury
share purchases totaled 14.7 million (2004: 41.0 million) with an average purchase
price per share of CHF 57 (2004: CHF 57) and treasury share sales totaled 9.9
million with an average sale price of CHF 59 (2004: no sales).
The number of treasury shares held by the Company and subsidiaries meet the definitions
and requirements of Art. 659b SCO. Out of the 258 218 208 treasury shares held
at December 31, 2005, 258 143 543 are non-dividend bearing with the balance held
for share-based compensation and being dividend bearing. Novartis Group’s consolidated
financial statements comply with IFRS SIC Interpretation No. 12. This requires
consolidation of entities which do not qualify as subsidiaries in the sense of
Article 659b SCO. | |
