Annual Report & Accounts 2012 - Euromoney Institutional Investor ...

Euromoney Institutional Investor PLC Annual Report and Accounts 2012
www.euromoneyplc.com
Notes to the Consolidated
Financial Statements continued
24 Share-based payments continued
Number of ordinary shares under option: 2011
2010
Granted/
(trued up)
during
year
Exercised
during
year
Lapse/
forfeited
during
year 2011
Option
price
(£)
Weighted
average
market
price at
date of
exercise
(£)
Period during which option may be exercised:
Executive options
Before March 1 2012 147,424 – (16,000) (131,424) – 5.38 6.87
Before January 22 2012 8,000 – – – 8,000 3.35 –
Before December 3 2012 192,000 – (106,000) – 86,000 2.59 6.88
Before January 27 2014 153,487 – (62,000) – 91,487 4.19 6.78
SAYE
Between February 1 2011 and July 31 2011 35,003 – (28,968) (3,017) 3,018 3.18 7.03
Between February 1 2012 and July 31 2012 362,994 – (2,647) (19,322) 341,025 1.87 7.30
Between February 1 2013 and July 31 2013 51,688 – – (5,222) 46,466 3.44 –
Between February 1 2014 and July 31 2014 – 50,743 – (10,155) 40,588 5.65 –
CAP 2004
Before September 30 2014 (tranche 1) 1 1,587 – (1,166) – 421 0.0025 6.91
Before September 30 2014 (tranche 2) 1 122,697 58,064‡ (122,385) (1) 58,375 0.0025 7.29
Before September 30 2014 (tranche 3) 1 211,322 276,933‡ (190,214) (5,009) 293,032 0.0025 7.26
CAP 2010
Before September 30 2020 (tranche 1) 2 969,305 – – – 969,305 0.0025 –
Before September 30 2020 (tranche 2) 2 1,750,496 – – – 1,750,496 0.0025 –
CSOP 2010
Before February 14 2020 (UK) 541,671 – – – 541,671 6.03 –
Before February 14 2020 (Canada) 239,520 – – – 239,520 5.01 –
4,787,194 385,740 (529,380) (174,150) 4,469,404
The options outstanding at September 30 2011 had a weighted average exercise price of £1.38 and a weighted average remaining contractual life
of 7.34 years.
1 CAP 2004 options shown in the above tables relate only to those options that have vested (see page 44 in the Directors’ Remuneration Report for further information
on CAP 2004 options).
2 The allocation of the number of options granted under each tranche of the CAP 2010 and CSOP UK and CSOP Canada represents the directors’ best estimate. The CAP
2010 award is reduced by the number of options vesting under the respective CSOP schemes (see below and the Directors Remuneration Report for further details).
‡ Options granted/(trued up) relate to those that are likely to vest on February 14 2013 (2011: February 10 2012) under the second and third tranche of the CAP 2004
following the achievement of the additional performance test. The number of options granted is provisional and will primarily require a true up to reflect adjustments
of the individual businesses profits during the period to December 31 2012 (2011: December 31 2011) as required by the Remuneration Committee. As such the actual
number of options vested could vary from that disclosed.
Cash-settled options
The group has liabilities in respect of three share option schemes that are classified by IFRS 2 ‘Share-based payments’ as cash settled. These consist of
the cash element of the CAP 2010 scheme, options held by employees over new equity shares in Internet Securities Inc., a subsidiary of the group, and
options held by employees over equity shares in Structured Retail Products Limited, a subsidiary of the group. Of these schemes, options with an intrinsic
value of £3,000 had vested but are not yet exercised (2011: £7,000).
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