Annual report 2008 - Comrod

NOTE 14 SHAREBASED PAYMENTSThe company has 3 share option schemes which covers employees in certain key positions in the parent company and itssubsidiaries. At 31 December 2008, 9 of the group employees were in the share option scheme, see note 27 of Consolidatedaccounts. The employees must be working in the group on the date of exercise in order to be entitled to exercise theoptions. All the options had a negative intrinsic value on the grant date. The options may be converted into shares on theexercise date. The options are European purchase options with a fixed redemption date.The fair value of the options is calculated on the grant date, based on a Black & Scholes model, and the cost is recognisedover the service period. Costs of NOK 52.626 associated with the share option scheme were expensed for the chairmanand the employees in the parent company.(NUMBER IN THOUSANDS) Share options outstanding 2008 2007Share options outstanding 1 Jan. 207 000 0Options granted 0 207 000Options exercised 0 0Options lapsed (93 000) 0Share options outstanding 31. Dec. 114 000 207 000Fully exercised options 0 0Share options outstanding have the Exercise date Exercise price Number offollowing expiry dates and exercise prices (NOK) optionsShare option scheme 2008 04.05.2009 20.52 57 00003.05.2010 22.23 57 000Total 114 000Further information about the share option schemes is given in note 27 to the Consolidated accounts.NOTE 15 EVENTS AFTER THE BALANCE SHEET DATEDnb Nor Bank ASA has subsequent to the balance sheet date approved to extend the limits of the overdraft facilities ofComrod Communication ASA from NOK 35 million to NOK 55 million.TAU, 31.12.2008/24.03.2009The Board of Comrod Communication ASAErik Espeset Randi Elin Hognestad Frode SvaboeChairman of the Board Vice chairman of the Board Member of the BoardMerete Alnes Mostue Tore J. Fjell Kristin Krohn Devold Niklas HermanssonMember of the Board Member of the Board Member of the Board Group President & CEOComrod Communication Group Annual report 2008 79