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Annual Report & Accounts 2015 - NOTES TO THE COMPANY FINANCIAL STATEMENTS
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9. called Up eQUity share capital continued the issued share capital history is shown below: 2004 to 2012 2013 2014 2015 Balance at 1 January - 31,592,172 60,906,760 61,276,480 shares issued on initial listing in 2004 31,135,762 - - - share options exercised - at £1.00 233,333 - 26,667 - - at £1.26 100,000 165,000 - - - at £1.29 123,077 31,513 - - - at £2.36 - - 343,053 - - at €0.01 - 100,000 - - issue of shares for acquisition - 29,018,075 - - Balance at 31 december 31,592,172 60,906,760 61,276,480 61,276,480 the holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the Company. however, should the Company not be satisfied as to the true identity of the shareholders it can suspend the entitlement of those shareholders to receive dividends. 10. share option schemes the Company has the following share options schemes for which options remained outstanding at the year end: i. options were granted to third parties on 28 February 2013 as part of the sportingbet PlC acquisition following underwriting commitments made at the time. the awards vested on the grant date and the options have the exercise price reduced by the value of any dividends declared up to the point of exercise. of the 156,947 outstanding at 1 January 2015, none were exercised during the year ended 31 december 2015. these options were fully exercised on 8 February 2016 at a weighted average price of £1.015. ii. a further grant of options to directors and employees under the existing and already approved ltiP was made on 2 June 2014. Under this scheme, 125,000 options were forfeited during the year and as at 31 december 2015 3,325,000 share options remained outstanding. after the year end, 2,450,000 of these options were cancelled under the arrangements for the acquisition of bwin.party. Under the terms of the share option plans the Company can allocate up to 16.8% of the issued share capital, although it must take allowance of the 752,923 shares in issue as a consequence of the exercise of share options. the following options to purchase €0.01 ordinary shares in the Company were granted, exercised, forfeited or existing at the year end: existing at surrendered/ existing at exercisable at exercise 1 January Granted in forfeited in 31 december 31 december Vesting date of Grant price 2015 the year the year 2015 2015 criteria 21 may 2010 213p 1,600,000 - (1,600,000) - - Note a 28 Jan 2012 154.79p 1,600,000 - (1,600,000) - - Note a 28 Feb 2013 233.5p 156,947 - - 156,947 156,947 Note b 02 Jun 2014 1p 3,450,000 - (125,000) 3,325,000 - Note c total all schemes 6,806,947 - (3,325,000) 3,481,947 156,947 the options outstanding at 31 december 2015 have a weighted average contractual life of 8.4 years (2014: 5.9 years). the existing share options at 31 december 2015 are held by the following employees: option price 233.5p 1p Grant date 28-Feb-13 02-Jun-14 total Kenneth alexander - 1,400,000 1,400,000 Richard Cooper - 700,000 700,000 lee Feldman (note d) - 350,000 350,000 third parties 156,947 - 156,947 employees - 875,000 875,000 156,947 3,325,000 3,481,947 100 GVC HOLDINGS PLC ANNUAL REPORT 2015 notes to the company financial statements continued for the year ended 31 december 2015