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Annual Report & Accounts 2012 - NOTES TO THE COMPANY FINANCIAL STATEMENTS
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GVC HOLDINGS PLC COMPANY FINANCIAL STATEMENTS 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. Note b: These options were granted under the new scheme, it is expected that the initial awards will vest over a three year period as follows; one third of the ordinary shares subject to each award will vest 12 months after the date of grant of the awards and the balance of the ordinary shares will vest in eight equal quarterly instalments over the following 24 months. Once vested, awards will normally be exercisable up to ten years from the date of grant at the end of which period they will lapse. Note c: These options were granted under the new scheme; it is expected that the initial awards will vest over a three year period as follows; one third of the ordinary shares subject to each award will vest 12 months after the date of grant of the awards and the balance of the ordinary shares will vest in eight equal quarterly instalments over the following 24 months. Once vested, awards will normally be exercisable up to ten years from the date of grant at the end of which period they will lapse. The awards are subject to a performance condition which will require the Company's average share price over a period of 30 dealing days to reach 300p per ordinary share before the initial awards are capable of being exercised. Following the disposal of Betaland, 200,000 of these options with an exercise price of 1p lapsed. Note d: These options were granted under the new scheme, it is expected that the initial awards will vest over a three year period as follows; one third of the ordinary shares subject to each award will vest 12 months after the date of grant of the awards and the balance of the ordinary shares will vest in eight equal quarterly installments over the following 24 months. Once vested, awards will normally be exercisable up to ten years from the date of grant at the end of which period they will lapse. The awards are subject to a performance condition which will require the Company's average share price over a period of 30 dealing days to reach 200p per ordinary share before the initial awards are capable of being exercised. Note e: These options were granted under the new scheme, these options can be exercised after a period of 3 years from the date of grant subject to achieving performance targets set by the Company. Following the disposal of Betaland all of these options lapsed. Note f: These options were granted under the new scheme, it is expected that the initial awards will vest over a three year period as follows; one third of the ordinary shares subject to each award will vest 12 months after the date of grant of the awards and the balance of the ordinary shares will vest in eight equal quarterly instalments over the following 24 months. Once vested, awards will normally be exercisable up to ten years from the date of grant at the end of which period they will lapse. The charge to the consolidated income statement in respect of these options (excluding lapsed options) in 2012 was €568,000 (2011: €440,000) and a credit to the income statement of €489,000 in respect of the lapsed options. 69