The Company's fixed rate 9% cumulative preference shares have no redemption date.

It can postpone the dividend in case of cumulative preference shares also.

The cumulative preference shares are redeemable at a premium of 3p per share between 1998 and 2001 at the option of the company.

The aggregate amount of the dividends payable on the Series C Cumulative Preference Shares is $5,573,353.

The sale also involves a payment from DSM to the Government to convert ordinary shares into cumulative preference shares.

Holders of cumulative preference shares are entitled to dividends before owners of ordinary shares and get a dividend whose value is linked to Government bond yields.

Holders of Preferred shares, because of the four different classes in Austin's capital received various apportionments of new 5% Cumulative Preference shares related to their market valuations.