• Consolidated Financial Statements 
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      • 13. Cash and cash equivalents 
      • 14. Trade accounts receivable 
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      • 23. Mandatory Exchangeable Bonds 
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Home Consolidated Financial Statements Notes Notes on the consolidated balance sheet 27. Shareholders’ equity

27. SHAREHOLDERS’ EQUITY

SUBSCRIBED CAPITAL

Development of subscribed capital

On August 15, 2008, Fresenius SE successfully closed a capital increase to finance part of the acquisition of APP. In connection with the capital increase, 2,748,057 new ordinary shares were issued at a price of € 52.00 and 2,748,057 new preference shares were issued at a price of € 53.00. The transaction has generated gross proceeds of approximately € 289 million and increased the subscribed capital by € 5.5 million. The new shares have full dividend entitlement for the fiscal year 2008.

During the fiscal year 2008, 482,850 stock options were exercised.

Accordingly, at December 31, 2008, the subscribed capital of Fresenius SE was divided into 80,571,867 bearer ordinary shares and 80,571,867 non-voting bearer preference shares. The shares are issued as non-par value shares. The proportionate amount of the subscribed capital is € 1.00 per share.

Notification by shareholders

The contents of the notifications disclosed in accordance with Section 26 (1) of the German Securities Trading Act (WpHG) by the balance sheet date are set out below. These reflect the most recent notifications made to Fresenius SE about the level of investments held:

The Else Kröner-Fresenius-Stiftung notified Fresenius SE on December 14, 2008, that it holds 46,871,154 ordinary shares of Fresenius SE representing 58.17% of the voting rights.

On May 28, 2008, FIL Limited, Hamilton, Bermuda, crossed above the threshold of 5 % of the voting rights in Fresenius SE, Else-Kröner-Strasse 1, 61352 Bad Homburg v. d.H., Germany. On that date, FIL Limited held 5.19% of the voting rights in Fresenius SE arising from 4,028,297 voting rights. All voting rights in Fresenius SE were attributed to FIL Limited pursuant to Section 22 (1) sentence 1 No. 6 WpHG.