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106 13 Share options Notes to the Company fi nancial statements Kingfi sher plc Annual Report and Accounts 2009/10 Options to subscribe under the various schemes for ordinary shares of 15 5 /7p, including those held by the executive directors disclosed in the Directors’ remuneration report on pages 41 to 53, are shown below: 2009/10 2008/09 Date of Exercisable Exercise price Options Options grant from £ Number Number Kingfi sher Incentive Share Scheme 10/04/06 10/04/09 – – 971,459 10/04/06 10/04/09 – – 169,792 11/04/07 11/04/10 – 1,401,842 1,683,652 21/04/08 21/04/11 – 2,717,585 3,287,837 21/04/09 21/04/12 – 3,299,353 – 7,418,780 6,112,740 Restricted Special Awards 01/04/07 01/04/09 – – 19,766 30/04/07 30/04/09 – – 14,814 30/04/07 30/04/10 – 12,962 12,962 01/05/07 01/05/09 – – 36,463 01/05/07 01/05/10 – 36,463 36,463 18/06/07 18/06/09 – – 8,225 18/06/07 18/06/10 – 6,191 6,191 19/11/07 31/03/09 – – 28,801 10/06/08 10/06/09 – – 22,900 10/06/08 10/06/10 – – 15,267 20/11/08 01/04/12 – 20,000 20,000 01/04/09 01/04/12 – 70,000 – 01/06/09 09/05/10 – 8,368 – 01/06/09 09/05/11 – 4,463 – 10/08/09 04/07/11 – 7,929 – 23/11/09 01/04/11 – 14,127 – 23/11/09 01/04/12 – 14,427 – 194,930 221,852 Performance Share Plan 28/06/06 28/06/09 – – 1,252,969 24/10/06 24/10/09 – – 1,164,686 11/04/07 11/04/10 – 833,815 1,031,514 01/10/07 01/10/10 – 1,469,187 1,829,857 01/02/08 01/02/11 – 1,193,477 1,114,206 01/02/08 01/02/12 – 1,193,477 1,114,206 21/04/08 21/04/12 – 10,961,747 13,276,650 24/07/08 24/07/12 – 1,328,997 1,328,997 01/10/08 01/10/11 – 1,999,564 1,935,275 01/10/08 01/02/12 – 684,801 656,392 21/04/09 21/04/13 – 3,695,056 – 30/10/09 30/10/12 – 930,845 – 24,290,966 24,704,752 Kingfi sher Retention Plan 21/04/08 21/04/09 – – 1,122,500 21/04/08 21/04/11 – 1,055,000 1,437,500 21/04/08 21/04/12 – 2,015,000 2,750,000 3,070,000 5,310,000
Kingfi sher plc Annual Report and Accounts 2009/10 107 2009/10 2008/09 Date of Exercisable Exercise price Options Options grant from £ Number Number Store Manager Incentive Plan 21/04/09 21/04/11 – 2,047,500 – 21/04/09 21/04/12 – 7,427,250 – 30/10/09 21/04/12 – 1,208,840 – 10,683,590 – UK and International ShareSave 01/05/03 01/07/08 1.87 – 252,506 22/10/04 01/12/09 2.45 526,620 599,309 27/10/05 01/12/08 1.76 – 1,710,065 27/10/05 01/12/10 1.76 600,783 684,280 26/10/06 01/12/09 1.97 405,455 1,270,059 26/10/06 01/12/11 1.97 662,929 825,019 01/11/07 01/12/10 1.55 1,782,137 2,226,433 01/11/07 01/12/12 1.55 1,020,667 1,225,548 29/10/08 01/12/11 1.09 5,749,294 6,313,572 29/10/08 01/12/13 1.09 3,859,139 4,226,428 03/11/09 01/12/12 1.72 3,534,320 – 03/11/09 01/12/14 1.72 1,605,016 – 19,746,360 19,333,219 Executive, International Executive 01/04/99 01/04/04 5.90 – 373,390 and Phantom Share Options 26/05/99 26/05/04 6.08 – 6,105 28/09/99 28/09/04 4.83 – 41,922 17/04/00 17/04/04 3.93 892,027 1,080,135 25/09/00 25/09/04 3.57 416,232 490,666 26/09/01 26/09/04 2.10 526,941 540,027 26/09/01 26/09/05 2.07 471,031 471,031 09/04/02 09/04/05 2.90 1,635,731 1,807,248 09/04/02 09/04/06 2.86 701,976 701,976 08/10/02 08/10/05 1.95 1,307,525 1,520,905 08/10/02 08/10/06 1.95 789,059 853,126 17/04/03 17/04/06 2.38 2,508,231 2,844,462 17/04/03 17/04/07 2.38 1,263,652 1,429,760 10,512,405 12,160,753 Total 75,917,031 67,843,316 The Kingfi sher Incentive Share Scheme (‘KISS’) and Performance Share Plan are described as part of the Directors’ remuneration report on pages 41 to 53. Restricted Special Awards were originally reported under the KISS. These awards are granted as one-off compensatory awards granted under the rules of the KISS. They are nil cost options, as with the KISS, but do not accrue dividends until after they are exercised. Vesting dates may vary according to the individual grants. Certain employees, excluding directors, have been granted contingent share awards under the Kingfi sher Retention Plan. The Store Manager Incentive Plan provided provisional awards to store managers in 2009 that will vest in April 2011 and April 2012. There are performance conditions based on store standards and an award will lapse if these are not maintained throughout the three year performance period. These awards do not accrue dividends during the vesting period. Under the UK ShareSave scheme, eligible UK employees have been invited to enter into Inland Revenue approved savings contracts for a period of three or fi ve years, whereby shares may be acquired with repayments under the contract. The option price is the average market price over three days shortly before an offer to subscribe, discounted by 20%. Options are exercisable within a six month period from the conclusion of a three or fi ve year period. The International ShareSave scheme, which operates along the lines of the UK ShareSave scheme, includes eligible employees in certain overseas locations. The last grant of options under the Executive, International Executive and Phantom Share Option schemes was made in April 2003. Under these schemes, participants received a bi-annual grant of options based on their position in the Group. These options are normally exercisable from the third anniversary of the date of the grant (up to the tenth anniversary), except where the performance condition has not been met, in which case this date is deferred accordingly. The performance conditions for all options have now been met, except for the grant made in April 2003. On the exercise of Phantom Share Options, participants receive in cash the increase in value of the allocated number of shares in the Company. The rules of all schemes include provision for the early exercise of options in certain circumstances. Under FRS 20, ‘Share-based Payment’, the Company recognises a charge for share options granted after 7 November 2002. The Company has not repeated the disclosures required by FRS 20 as these are already included in note 30 of the Kingfi sher plc consolidated fi nancial statements.
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