Download PDF version English (3237KB) - Hamon

Part 3 - Financial statements
97
The interest rates used to discount the obligations have
significantly decreased this year compared to previous
years following market rates.
The number of employees covered by the plans in 2012
amounted to 634 (of which 22 were inactive) in comparison
to 532 (of which 9 were inactive) in 2011 and 503
(of which 10 were inactive) in 2010. It increased in 2012,
mainly due to the headcount increase of the Indian
subsidiaries.
33. SHARE-BASED COMPENSATION (STOCK OPTIONS)
The Board of Directors, with the approval of the
Extraordinary General shareholders Meeting of 27 May
2008, decided to grant a stock option plan to managers
of the Group (around 40 persons) with the goal of
focusing them on the long-term development of the
Group. The details of these plans are as follows:
Stock option plans granted by the company
Plan Beneficiaries Grant date End Date Exercise exercise Periods Outstanding options at
Price 31/12/2012 31/12/2011 31/12/2010
ESOP 2008 (B+G) Belgium and 27/05/08 26/05/15 33,58 From 2012 to 2015, 17 050 17 050 17 050
Germany from 15/03 till 31/05
and from 15/09
to 15/11
ESOP 2008 (F) France 6/10/08 26/05/15 29,71 In 2012 from 6/10 5 500 5 500 5 500
to 15/11 ; from 2013
to 2015 from 15/03
to 31/05 and from
15/09 to 15/11
Total 22 550 22 550 22 550
Each option is a right to buy a Hamon share at the price
and dates indicated. This right can only be exercised if
the beneficiary is still working for the Group at the date
of the exercise period. The American management of
the Group benefits from ‘Phantom stock options’ under
the same conditions as the French Management.
These phantom options are thus a plan of which the
settlement is made through payment and not shares.
Stock Option Plan
2012 2011
number of Weighted average Number of Weighted average
share options exercise price share options exercise price
Number of stock options as of 1st January 22 550 32,64 22 550 32,64
Stock options granted 0 0,00 0 0,00
Forfeitures of rights & options expired 0 0,00 0 0,00
Stock options exercised 0 0,00 0 0,00
Stock options expired 0 0,00 0 0,00
Number of stock options as of 31 December 22 550 32,64 22 550 32,64
Stock options exercisable as of 31 December 0 0,00 0 0,00