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Annual Report & Accounts 2012 - NOTES
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GVC HOLDINGS PLC NOTES TO THE FINANCIAL STATEMENTS 18. DIVIDENDS After the balance sheet date, but up to the date on which these financial statements were approved, the following dividends were proposed by the Directors and paid: 2012 2011 Total amount €2,211,452 €3,475,139 Amount per qualifying share €0.07 €0.11 19. SHARE OPTION SCHEMES The Group has three share option schemes: (a) the 'original' scheme that has been in place since the IPO of GVC Holdings PLC's predecessor Gaming VC Holdings S.A (b) a 'new' scheme that was approved by shareholders on 21 May 2010 (the "21 May 2010 scheme"). (c) a further grant of options under the new scheme to three directors, approved by shareholders on 16 November 2011 ("16 November 2011 scheme"). A total of 1,600,000 shares under this scheme were granted on 30 January 2012 at an exercise price of 154.79p. The following options to purchase €0.01 ordinary shares in the Company were granted, exercised, lapsed or existing at the year end. Existing at Existing at Exercisable at Exercise 1 January Granted in Exercised in Lapses in 31 December 31 December Vesting Date of Grant Price 2012 the year the year* the year 2012 2012 criteria 15 May 07 129p 154,590 - (123,077) - 31,513 31,513 Note a 26 Feb 08 138.16p 150,000 - - (150,000) - - Note a 12 Dec 08 126p 191,667 - - - 191,667 191,667 Note a 21 May 10 213p 1,675,000 - - - 1,675,000 1,395,833 Note b 21 May 10 1p 300,000 - - (200,000) 100,000 83,333 Note c 21 May 10 1p 100,000 - - - 100,000 83,333 Note d 21 May 10 150p 700,000 - - (700,000) - - Note e 28 Jan 12 154.79p - 1,600,000 - 1,600,000 - Note f Total all schemes 3,271,257 1,600,000 (123,077) (1,050,000) 3,698,180 1,785,679 *The average weighted share price on the date of exercise was 162.5p. The existing share options at 31 December 2012 are held by the following employees: Option price 129p 126p 213p 1p 154.79p Grant date 15-May-07 12-Dec-08 21-May-10 21-May-10 28-Jan-12 Total Kenneth Alexander - - 800,000 - 800,000 1,600,000 Richard Cooper - 191,667 400,000 - 400,000 991,667 Lee Feldman - - 400,000 - 400,000 800,000 Nigel Blythe-Tinker - - 75,000 - - 75,000 Other employees 31,513 - - 200,000 - 231,513 31,513 191,667 1,675,000 200,000 1,600,000 3,698,180 Note a: These awards were granted under the original scheme, on the first anniversary of the grant date, 25% of the option vests. Thereafter, the balance of the option vests over three years, at 1/36th per month. Following the disposal of Betaland, 150,000 of these options with an exercise price of 138.16p lapsed. 47