bold spirit - ArcelorMittal South Africa

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190 ArcelorMittal South Africa Annual Report 2010 29. SHARE-BASED PAYMENTS continued 29.2 ArcelorMittal South Africa Equity-settled Share Option Plan continued The charge for the group and company for this equity-settled share option plan amounted to R36 million (2009: R32 million). Options 2010 Million 2009 Million Outstanding at beginning of year 4.3 3.5 Issued 0.1 1.3 Exercised (0.5) (0.4) Lapsed/cancelled (0.4) (0.1) Outstanding at end of year 3.5 4.3 Weighted average remaining contractual life in days at year-end Average days until fully vested 553 803 Average days until expiry 3 110 2 861 Weighted average prices applicable per transaction type Issued (R/unit) 79.58 103.88 Exercised strike price (R/unit) 67.08 66.03 Lapsed/cancelled (R/unit) 96.97 111.28 Outstanding (R/unit) 94.89 93.33 Details of outstanding options as at 31 December 2010 are as follows: Options Latest expiry date 2020 2019 1. ArcelorMittal group-type option plan Exercise price range (R) 50.26 – 250.00 50.26 – 250.00 Number of outstanding instruments 3 421 697 4 180 187 Total proceeds if outstanding instruments were immediately exercised (Rm) 1 14 69 Total intrinsic value of out-of-the-money options at 31 December (Rm) (75) (37) 2. 30:30:40 option plan Latest expiry date 2011 2011 Exercise price range (R) 41.81 – 56.86 34.34 – 57.99 Number of outstanding instruments 104 179 157 657 Total proceeds if outstanding instruments were immediately exercised (Rm) 1 3 9 3. Legacy option plan Latest expiry date 2011 2011 Exercise price range (R) 9.71 – 10.10 9.71 – 10.10 Number of outstanding instruments 4 979 4 979 Total proceeds if outstanding instruments were immediately exercised (Rm) 1 0 2 0 2 ArcelorMittal South Africa closing price at 31 December 2010 R79.22 R103.00 1 Hypothetical scenario, assuming all instruments were to vest on 31 December (excludes out-of-the-money options, where applicable). 2 Rounding to zero due to the use of numeric reporting scale format of one million.
191 ArcelorMittal South Africa Annual Report 2010 29. SHARE-BASED PAYMENTS continued 29.2 ArcelorMittal South Africa Equity-settled Share Option Plan continued Terms of the options outstanding at the reporting date are as follows: Exercise price range 2010 R Outstanding numbers 2010 Options Exercise price range 2009 R Outstanding numbers 2009 For year ended 31 December Expiry date details 2010 34.34 – 57.99 30 205 2011 9.71 – 56.86 132 034 9.71 – 56.86 155 307 2015 53.38 320 823 53.38 448 645 2016 54.19 – 83.88 625 219 54.19 – 83.88 930 279 2017 97.72 – 140 699 618 97.72 – 140.00 790 738 2018 73.75 – 250 868 051 73.75 – 250.00 1 012 159 2019 95.50 – 121.50 851 710 80 – 121.50 975 490 2020 76.88 – 77.88 33 400 Total 3 530 855 4 342 823 29.3 ArcelorMittal Group Equity-settled Share-Based Payment Plans 29.3.1 Executive International Mobility Share Option Plan The ArcelorMittal Group issued equity-settled share options over its own shares, denominated in USD, to its executive employees seconded to ArcelorMittal South Africa. The charge to the group and company for the year amounted to R3 million (2009: R22 million). Details of outstanding options as at 31 December are as follows 1 : 2010 2009 Latest expiry date 2 020 2 019 Exercise price range (USD) 28.75 – 85.57 28.75 – 82.57 Number of outstanding instruments 72 653 56 093 Total proceeds if outstanding instruments were immediately exercised (Rm) 2 4 Total intrinsic value of out-the-money options at 31 December (Rm) 2 (1.5) (3) 1 Includes, at the reporting dates, those outstanding options received before and during the participants’ tenure as employees of ArcelorMittal South Africa. 2 Hypothetical scenario, assuming all instruments were to vest on 31 December (excludes out-of-the-money options, where applicable). Translated to ZAR using the closing exchange rate at 31 December.
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Annual Report 2010 bold spirit
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I in brief
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Brand values Our goal is to provide
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bold spirit - ArcelorMittal South Africa

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