237 ANNUAL REPORT 2010 On the balance sheet date AEGON N.V. and its subsidiaries held  29,245,571 of its own common shares with a face value of  EUR 0.12 each. Most of the shares have been purchased to  neutralize the dilution effect of issued share dividend and to  hedge share appreciation rights and stock options granted  to executives and employees. Movements in the number of  repurchased own shares held by AEGON N.V. were as follows: 2010 2009 At January 1 27,571,680 60,264,790 Transactions in 2010: Sale: 1 transaction, price EUR 4.75  (51,609) – Transactions in 2009: Sale: 1 transaction, price EUR 5.25  – (32,654,191)  Sale: 1 transaction, price EUR 3.18  –  (38,919) AT DECEMBER 31 27,520,071 27,571,680 2010 2009 Number of shares Consideration Number of shares Consideration Held by AEGON N.V. 27,520,071 235 27,571,680 236 Held by subsidiaries 1,725,500 17 1,699,629 15 TOTAL AT DECEMBER 31 29,245,571 252 29,271,309 251 As part of their insurance and investment operations,  subsidiaries within the Group also hold AEGON N.V. common  shares, both for their own account and for account of  policyholders. These shares have been treated as treasury  shares and are included at their consideration paid or received. On November 30, 2009, AEGON repurchased 250 million of  convertible core capital securities. The total payment to the  Dutch State amounted to EUR 1.15 billon. Under the terms of  AEGON’s agreement with the Dutch State, the premium for  repayment amounted to EUR 108 million based on the volume  weighted average share price of AEGON shares of EUR 4.8315  during the five trading days from November 23 until November  27. The amount repaid includes accrued interest from May 22,  2009, of EUR 44 million.  The consideration for the related shares is deducted from  or added to the retained earnings. On December 1, 2008, AEGON’s core capital was increased  through a transaction with the Dutch State in view of the  ongoing uncertainty regarding the financial and economic  environment during the year. Vereniging AEGON received a  senior loan of EUR 3 billion which was invested in AEGON  against issuance of 750 million non-voting convertible core  capital securities at EUR 4.00 per security. The newly issued  securities rank equal to common shares (pari passu), but carry  no voting rights. This structure was designed to avoid dilution  of voting rights of existing shareholders. The proceeds from the  convertible core capital securities may only be used for general  corporate purposes in the ordinary course of business;  investments in subsidiaries chargeable to the additional capital  in excess of EUR 300 million outside the European Union  require prior approval from the Dutch Central Bank. On August 30, 2010, AEGON repurchased 125 million of  convertible core capital securities. The total payment to the  Dutch State amounted to EUR 563 million and included  a premium for repayment amounting to EUR 52 million and  accrued interest from May 25, 2010, of EUR 11 million.  Refer to note 17 for disclosure about a repurchase of  convertible core capital securities after December 31, 2010. NOTE 10  CONVERTIBLE CORE CAPITAL SECURITIES  SHARPENING OUR FOCUS