Download the SABMiller plc 2007 Annual report PDF (3.70Mb)

SABMiller plc Approved Share Option SchemeNo. of No. of No. of No. ofShare Share Share Shareoptions options options optionsas at granted exercised Subscription Exercisable as at Expected31 March during during price 3 – 10 years 31 March valueDirector 2006 the year the year £ from 2007 £EAG Mackay 5,586 – – 5.37 16/03/1999 5,586 13,200MI Wyman 3,623 – – 8.28 20/05/2005 3,623 8,188The terms and conditions of the options, including the performance conditions to which their vesting is subject, are set out on page 50.SABMiller plc Executive Share Option (No. 2) SchemeNo. ofNo. of No. of No. of No. of ShareShare Share Share Share optionsoptions options options options outstandingas at granted vested exercised Sale price/ Subscription Exercisable as at Expected31 March during during during Market price price 3 – 10 years 31 March valueDirector 2006 the year the year the year £ £ from 2007 £EAG Mackay 112,577 – – – – 4.85 09/03/1999 112,577 240,239159,416 – – – – 4.11 02/06/2000 159,416 262,080161,589 – – – – 5.16 01/06/2001 161,589 258,478201,578 – – – – 5.705 31/05/2002 201,578 391,001327,721 – 327,721 – – 4.1575 23/05/2003 327,721 426,037222,704* – – – – 6.605 21/05/2004 222,704 425,365211,353 – – – – 8.28 20/05/2005 211,353 477,658– 230,000 – – – 10.61 19/05/2006 230,000 642,4671,626,938MI Wyman 60,463 – – 60,463 10.5022 4.85 09/03/1999 – –85,341 – – 85,341 10.5022 4.11 02/06/2000 – –88,857 – – – – 5.16 01/06/2001 88,857 142,13693,339 – – – – 5.705 31/05/2002 93,339 181,050153,337 – 153,337 153,337 10.5022 4.1575 23/05/2003 – –102,195* – – – – 6.605 21/05/2004 102,195 195,19291,486 – – – – 8.28 20/05/2005 91,486 206,758– 140,000 – – – 10.61 19/05/2006 140,000 391,067515,877The expected values shown are aggregates of the Black-Scholes values of each option grant up to 31 May 2002. The Black-Scholes values have been calculatedusing a model that uses daily share price data and takes account of the option grant date, exercise price and time to maturity, with assumptions as to dividendyield and the risk-free rate of return. Options granted from 23 May 2003 onwards are valued using the binomial method.* The share options indicated were eligible to be tested against the performance condition described in this report for the three years ended 31 March 2007.The performance hurdle having been exceeded, these share options are eligible to be exercised as at 21 May 2007.Note: Mr Mackay and Mr Wyman were granted 230,000 and 140,000 share options respectively at a subscription price of £11.67 per share on 18 May 2007.In the year under review, options granted under the Approved and No. 2 Schemes in 2003 vested and became exercisable as the company’sadjusted EPS for the year to 31 March 2006, at 61.1 pence (converted from US$ at the average exchange rate over the period 1 April 2005 to31 March 2006) was more than 24.2% higher (the aggregate of RPI movement and 5% per annum compound growth) than the adjusted EPSof 34.9 pence for the year ended 31 March 2003 (the base year calculation of the performance condition) converted from US$ at the averageexchange rate for the period from 1 April 2002 to 31 March 2003.The terms and conditions of the options, including the performance conditions to which their vesting is subject, are set out on page 50.Overview Operating and financial review Governance Financial statementsShareholder informationRemuneration report SABMiller plc Annual Report 200755