GlaxoSmithKlineThe Impact of Medicines - Annual Review 2002
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Chairman and Chief Executive Officer's statement
Patients and product development
R&D productivity
Innovative science
Diseases of the developing world
Our people
Corporate and social responsibility
Product portfolio
The Board
The Corporate Executive Team
Business operating review
Responsibility statement
Corporate governance
Summary financial statement
Summary remuneration report
Shareholder information
Contact details
Shareholder Information
 
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Ordinary shares
The company’s shares are listed on the London Stock Exchange.

Registrar
The company’s share register is administered by Lloyds TSB Registrars, who also provide the following services:

  • GlaxoSmithKline Investment Plan enables shareholders to reinvest quarterly dividends and/or make monthly investments in the company's ordinary shares using a special dealing arrangement.
  • GlaxoSmithKline Individual Savings Account is a tax-efficient way to invest in the company’s ordinary shares.
  • GlaxoSmithKline Corporate Sponsored Nominee provides a facility for shareholders to hold shares without the need for share certificates. Shareholders’ details will not be held on the main share register, and so will remain confidential.
  • Shareview service provides shareholders with information on their investment in the company. Shareholders may register for this service at www.shareview.co.uk.

Share dealing facility
NatWest Stockbrokers Limited offers a share dealing service on behalf of the company to shareholders wishing to buy or sell the company’s shares.

Share price information
Share price information is available on the company’s website at www.gsk.com. Information made available on the website does not constitute part of this Annual Review. Information is also available on Ceefax, Teletext, and from FT Cityline by calling 0906 003 5694 or 0906 843 5694 (calls charged at 60p a minute plus VAT at all times).

American Depositary Shares
The company’s shares are listed on the New York Stock Exchange in the form of American Depositary Shares (ADSs) and these are evidenced by American Depositary Receipts (ADRs), each one of which represents two ordinary shares.

ADR programme administrator
The ADR programme is administered by The Bank of New York as well as Global BuyDIRECT, a direct ADS purchase/sale and dividend reinvestment plan for ADR holders.

Annual General Meeting 2003
The Annual General Meeting will be held at the Queen Elizabeth II Conference Centre, Broad Sanctuary, Westminster, London SW1P 3EE on 19th May 2003.

SmithKline Beecham plc Floating Rate Unsecured Loan Stock 1990/2010
The loan stock is not listed on any exchange but holders may require SmithKline Beecham plc to redeem their loan stock at par, i.e. £1 for every £1 of loan stock held, on the first business day of March, June, September and December. Holders wishing to redeem all or part of their loan stock should complete the notice on the back of their loan stock certificate and return it to the registrar, to arrive at least 30 days before the relevant redemption date.

Financial reporting calendar 2003  
  Announcement of 1st Quarter Results 30th April 2003
  Announcement of 2nd Quarter Results 23rd July 2003
  Announcement of 3rd Quarter Results 22nd October 2003
  Preliminary Announcement of Annual Results 11th February 2004
  Publication of Annual Report/Review March 2004

 

Results Announcements
Results Announcements are issued to the London Stock Exchange (LSE), and made available on the LSE news service, and at the same time, or shortly afterwards, are issued to the media, are made available on the company’s website and are filed in the USA with the Securities and Exchange Commission and the New York Stock Exchange.

Financial reports
The company publishes an Annual Report and, for the investor not needing the full detail of the Report, an Annual Review. These are available from the date of publication on the GlaxoSmithKline website. The Annual Review is sent to all shareholders on the date of publication. Shareholders may also elect to receive the Report by writing to the Company’s registrars. Alternatively shareholders may elect to receive notification by email of the publication of financial reports by registering on www.shareview.co.uk. Copies of previous financial reports are available on the company’s website. Printed copies can be obtained from the company’s registrar in the UK and from the company’s Customer Response Center in the USA.

Publications
This year GlaxoSmithKline has again produced a separate report covering the Group’s contribution to society. The 2002 Corporate and Social Responsibility Report covers the issues that are of primary interest to stakeholders, including the contribution to society, business ethics and integrity, access to medicines, R&D, community investment, the environment and health and safety. The review is available from the Secretariat at the company’s head office and the website at www.gsk.com.

Share price

Share price 2002
£
2001
£
At 1st January 17.23 18.90
High during the year 17.80 20.32
Low during the year 10.57 16.26
At 31st December 11.92 17.23
Decrease over year (31%) (9%)

 

The table sets out the middle market closing prices derived from the LSE Daily Official List. The company’s share price declined by 31 per cent in 2002 from a price of £17.23 at 1st January 2002 to £11.92 at 31st December 2002. This compares with a decrease in the FTSE 100 index of 24 per cent during the year. In the two years since the merger, the share price has declined by 37 per cent from £18.90 at 1st January 2001 which is in line with a similar decrease in the FTSE 100 index over the same period.

Market capitalisation
The market capitalisation of GlaxoSmithKline at 31st December 2002 was £72 billion. At that date GlaxoSmithKline was the third largest company by market capitalisation in the FTSE index.

Dividends
GlaxoSmithKline pays dividends quarterly. At present it is expected that there will be a level dividend for each of the first three quarters, with a higher dividend in the fourth quarter. Each quarter’s dividend is announced at the time of the quarterly Results Announcement.

  The Board has declared dividends for 2002 as follows:      
Dividends per share 2002
pence
2001
pence
  First interim - paid 4th July 2002 9 9  
  Second interim - paid 3rd October 2002 9 9  
  Third interim - paid 3rd January 2003 9 9  
  Fourth interim - payable 17th April 2003 13 12  
  Total 40 39  

 

Dividends (ADSs)
As a guide to holders of ADRs, the tables below set out the dividends paid per ADS in US dollars in the last five years. The dividends are adjusted for UK tax credit less withholding tax, where applicable, and are translated into US dollars at applicable exchange rates.

Since 6th April 1999, claims for refunds of tax credits on dividends from the UK tax authorities are of negligible benefit to US shareholders.

Year GSK($) GW($) SB($)  
  2002 1.24 - -  
  2001 1.11 - -  
  2000 - 1.10 0.87  
  1999 - 1.14 0.86  
  1998 - 1.19 0.81  


 

Dividends paid to Glaxo Wellcome and SmithKline Beecham ADR holders are expressed as dividends per GlaxoSmithKline ADS.

Dividend calendar    
  Fourth quarter 2002    
  Ex-dividend date 19th February 2003  
  Record date 21st February 2003  
  Payable 17th April 2003  
  First quarter 2003    
  Ex-dividend date 7th May 2003  
  Record date 9th May 2003  
  Payable 3rd July 2003  
  Second quarter 2003    
  Ex-dividend date 30th July 2003  
  Record date 1st August 2003  
  Payable 2nd October 2003  
  Third quarter 2003    
  Ex-dividend date 29th October 2003  
  Record date 31st October 2003  
  Payable 6th January 2004  

 
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