Historical background

Historical background of GBL's dividend per share from 1996 to 2002   ()

	2002	2001	2000	1999	1998	1997	1996
	EUR	EUR	EUR	EUR	EUR	EUR	EUR
Gross Dividend
Ordinary Share	1.42	1.32	1.2	1.1	1.07	1.04	0.99
Ordinary Share AFV1	-	-	-	-	-	-	-
Ordinary Share AFV2	-	-	-	-	-	-	-
Ordinary Share AFV3	-	-	-	-	-	-	-
Net Dividend
Ordinary Share	1.065	0.99	0.9	0.83	0.8	0.78	0.74
Ordinary Share AFV1	1.207	1.12	1.02	0.94	0.94	0.88	0.84
Ordinary Share AFV2	-	-	-	-	-	-	-
Ordinary Share AFV3	-	-	-	-	-	-	-
Coupon number paid	3	2	1	39	38	37	36

The AFV1, AFV2, AFV3 shares were first replaced by VVPR shares that were then "stripped" (ordinary share + VVPR strip).
The holders of the VVPR strips currently benefit from the same fiscal advantages as the ones previously attached to the AFV1, AFV2, AFV3 shares.

The other coupons not included in the table were used as follows:

• Coupon No 31: compensation for the subscription right not exercised at the time of the capital increase in February 1994, of an amount per share of EUR 0.58 (1). This issue involved 758,340 (1) new ordinary shares to which 2,275,020 (1) warrants were attached (3 warrants per share (1)).
• Coupon No 34: Allocation of the VVPR strip sheet in May 1996 at the time of the stripping of the GBL VVPR shares. 
  You can consult and download the press release of 29 April 1996 on the fungibility of GBL ordinary and VVPR shares.
• Coupon n°6: Subscription right, in the scope of a capital increase decided on 28 March 2006, separated from the underlying share on 5 April 2006 after the closing of the stock exchange.
• Coupon n°9: Subscription right, in the scope of a capital increase decided on 1st June 2007, separated from the underlying share on 13 June 2007 after the closing of the stock exchange.

(1) Figures not adjusted after the merger GBL/Eletcrafina on 26 April 2001 after which the number of GBL shares was multiplied by 5.