Annual r eport 2002 Annual r eport 2002 - Boskalis

Financial Statements 2002
The number of outstanding options as at 31 December 2002, with one option
entitling the holder to one ordinary share, was as follows:
Year Outstanding Exercised Outstanding Exercise Maturity
granted options as options options as at price
at 1 January
31 December
Directors
R. van Gelder 1997 17,500 ( 17,500 ) – € 17.38 21 May 2002
1998 20,000 – 20,000 € 15.70 8 April 2003
K.G. van Nes 1997 8,000 ( 8,000 ) – € 17.38 21 May 2002
45,500 ( 25,500 ) 20,000
Staff 1997 6,000 ( 6,000 ) – € 17.38 21 May 2002
1998 32,000 ( 22,000 ) 10,000 € 15.70 8 April 2003
38,000 ( 28,000 ) 10,000
Total 1997 31,500 ( 31,500 ) – € 17.38 21 May 2002
1998 52,000 ( 22,000 ) 30,000 € 15.70 8 April 2003
83,500 ( 53,500 ) 30,000
The number of shares owned by directors as at 31 December 2002 is as follows:
R. van Gelder 17,500
17,500
4. Share premium reserve
Movements were as follows: 2002 2001
Balance as at 1 January 17,650 21,120
Decrease due to par value conversion from guilders to euros – ( 3,470 )
Balance as at 31 December 17,650 17,650
€ 17.2 million of the share premium reserve is distributable free of tax.
5. Other reserves
Movements were as follows: 2002 2001*)
Balance as at 1 January 217,081 179,064
Profit appropriation for previous reporting year 46,758 40,055
Issue of formerly purchased own ordinary
shares for purposes of exercised options 893 540
Currency translation differences and other movements ( 15,008 ) ( 2,578 )
Balance as at 31 December 249,724 217,081
A legal reserve for non-distributed profits of group and/or associated companies
was not required at the end of 2002.
*) Adjusted for comparison purposes.
63 Royal Boskalis Westminster nv