171 ANNUAL REPORT 2010 Preferred shares  2010 2009 2008 Authorized share capital 250 250 250 Par value in cents per share 25 25 25 Preferred shares A Preferred shares B Number of  shares  (thousands) Total  amount Number of  shares  (thousands) Total  amount At January 1, 2008 211,680 53 35,170 9 Shares issued – – – – At December 31, 2008 211,680 53 35,170 9 Shares issued – – 33,860 8 At December 31, 2009 211,680 53 69,030 17 Shares issued – – – – AT DECEMBER 31, 2010 211,680 53 69,030 17 SHARPENING OUR FOCUS these option rights. In 2008, no option rights were exercised.  In 2009, Vereniging AEGON exercised its option rights to  purchase in aggregate 33,860,000 class B preferred shares at  par value to correct dilution caused by AEGON’s EUR 1 billion  equity issue as completed in August 2009. All issued common and preferred shares are fully paid.  Repayment of capital can only be initiated by the Executive  Board, is subject to approval of the Supervisory Board and must  be resolved by the General Meeting of Shareholders. Moreover,  repayment on preferred shares needs approval of the related  shareholders. Refer to Other information for further  information on dividend rights. There are restrictions on the amount of funds that companies  within the Group may transfer in the form of cash dividends or  otherwise to the parent company. These restrictions stem from  solvency and legal requirements. Refer to note 46 for a  description of these requirements. Vereniging AEGON, based in The Hague, holds all of the issued  preferred shares. Vereniging AEGON, in case of an issuance of shares by  AEGON N.V., may purchase as many class B preferred shares as  would enable Vereniging AEGON to prevent or correct dilution  to below its actual percentage of voting shares, unless  Vereniging AEGON as a result of exercising these option rights  would increase its voting power to more than 33 percent. Class  B preferred shares will then be issued at par value (EUR 0.25),  unless a higher issue price is agreed. In the years 2003 through  2007, 35,170,000 class B preferred shares were issued under  With regard to granted share appreciation rights and option  rights and their valuation refer to note 38. AEGON N.V. and Vereniging AEGON have entered into a  preferred shares voting rights agreement, pursuant to which  Vereniging AEGON has voluntarily waived its right to cast 25/12  vote per class A or class B preferred share. Instead, Vereniging  AEGON has agreed to exercise one vote only per preferred  share, except in the event of a ‘special cause’, such as the  acquisition of a 15% interest in AEGON N.V., a tender offer for  AEGON N.V. shares or a proposed business combination by any  person or group of persons, whether individually or as a group,  other than in a transaction approved by the Executive Board  and Supervisory Board. If, in its sole discretion, Vereniging  AEGON determines that a ‘special cause’ has occurred,  Vereniging AEGON will notify the General Meeting of  Shareholders and retain its right to exercise the full voting  power of 25/12 vote per preferred share for a limited period of  six months. 