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note a: these options were granted under the 2010 scheme. the Company announced on 27 march 2015 that three of its directors surrendered 3,200,000 fully vested and "in the money" share options granted in 2010 and 2012 at the prevailing market price at the time (average of £1.83895). the surrender price was £4.46067, being the average of the middle market closing prices of the Company's shares for the thirty dealing days up to and including the date of surrender. in light of the surrender of share options, described above, by Kenneth alexander, Richard Cooper and lee Feldman (the "senior team"), the Company has implemented a new retention plan for the senior team (the "Retention Plan"). the Retention Plan is focused on ensuring that the senior team are compensated for the surrender of their fully vested share options. accordingly, each member of the senior team will receive cash payments which in total equal the "in-the-money" value of their surrendered share options. this payment is at the fair value of the vested equity instruments and is accounted for as a deduction from equity and recognition of the liability. during 2015, the first of the 24 monthly Retention Plan payments was made, but all subsequent payments were put on hold pending the outcome of the proposed deal with bwin.party. the balance and maturity is shown below: 2015 €000s Value of share options surrendered 12,183 Payment in the year (508) Revaluation at 31 december 2015 exchange rate 31 Retention plan balance at 31 december 2015 11,706 liability for cash-settled options under 2014 scheme 70 Balance at 31 december 2015 11,776 split: current liabilities 9,740 non-current liabilities 2,036 note b: these options were granted to third parties 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. note c: these options were granted to certain directors and employees. the awards will vest in full (and become exercisable) on the share price being equal to or exceeding £6.00 per share for a continuous period of 90 calendar days at any time from the date of grant. if there is a change of control, the awards will vest in full immediately unless the share price is less than £5.00 per share, in which case the awards will lapse in full. the awards have been treated as vesting over a 3 year period. the directors' options under this scheme were cash cancelled after the year end on the acquisition of bwin.party, and the after-tax proceeds re-invested in new GVC shares. note d: these awards were issued on the same basis as the awards in Note c but were awarded as cash settled rather than equity settled options. the director's options under this scheme were cash cancelled after the year end on the acquisition of bwin.party, and the after-tax proceeds re-invested in new GVC shares. 11. diVidends the dividends paid in the year were as follows: 2015 declaration date eUro amount GBp amount €000's 12 January 2015 0.125 0.0960 7,660 23 march 2015 0.140 0.1029 8,581 23 march 2015 0.015 0.0110 919 21 July 2015 0.140 0.0975 8,579 8 october 2015 0.140 0.1034 8,580 34,319 all reserves of the Company are distributable, as under the isle of man Companies act 2006 distributions are not governed by reserves but by the directors undertaking an assessment of the Company's solvency at the time of distribution (section 49, Companies act isle of man 2006). GVC HOLDINGS PLC ANNUAL REPORT 2015 101 company financial statements