financial report and registration document 2011 - Groupe SEB

NOTE 19 EQUITY
Note 19.1. SHARE CAPITAL
At 31 December 2011, 2010 and 2009 the Company’s share capital was
made up of 49,951,826 shares with a par value of €1 each.
The most recent corporate action took place in 2009, when in accordance
with the Board of Directors’ decision of 27 February 2009, SEB S.A. cancelled
1,000,000 of the shares held in treasury by the Group at 31 March 2009.
Note 19.2. STOCK OPTIONS AND PERFORMANCE SHARES
19.2.1. Stock options
Financial Report and Registration Document 2011
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Consolidated fi nancial statements
Notes to the consolidated fi nancial statements
One class of shares carries double voting rights and the right to a
supplementary dividend.
After deduction of treasury shares, the weighted average number of shares
outstanding in 2011 was 47,886,341 (47,414,375 in 2010 and 46,476,548
in 2009).
At 31 December 2011, the family group owned 43.62% of the Company’s
capital (breaking down as 23.58% held by FÉDÉRACTIVE and 20.04% by
VENELLE INVESTISSEMENT) and 59.57% of the voting rights.
No stock option plans were set up in 2011. Information about stock option plans at 31 December 2011 is provided below:
STOCK OPTIONS
At 31 December 2011 Date Number of options**
Type of option Option grant date*** Option exercise date Option expiry date Granted Exercised Cancelled
Outstanding
Exercise price**
(in €)
To purchase
existing shares
To purchase
18/06/2003 18/06/2007 18/06/2011 612,150 580,128 32,022 0 24.24
existing shares
To purchase
18/06/2004 18/06/2008 18/06/2012 539,100 343,043 17,400 178,657 31.67
existing shares
To purchase
08/04/2005 08/04/2009 08/04/2013 554,700 379,647 20,100 154,953 28.00
existing shares
To purchase
16/06/2006 16/06/2010 16/06/2014 589,798 367,147 14,707 207,944 29.33
existing shares
To purchase
20/04/2007 20/04/2011 20/04/2015 579,150 129,466 8,100 441,584 44.00
existing shares
To purchase
13/05/2008 13/05/2012 13/05/2016 1,005,900 0 21,300 984,600 38.35
existing shares
To purchase
12/06/2009 12/06/2013 12/06/2017 371,300 0 3,600 367,700 28.05
existing shares 18/06/2010 18/06/2014 18/06/2018 412,592 0 750 411,842 53.86
TOTAL* 4,664,690 1,799,431 117,979 2,747,280
* Of which, movements in 2011 0 275,642 11,192 (286,834)
** The number of options and the exercise price for plans set up prior to 16 June 2008 were adjusted following the three-for-one stock split that took place on 16 June 2008.
*** The grant date corresponds to the date of the Board Meeting when the option grants were decided.
In accordance with IFRS 2 – Share-based Payment, stock options are
measured at the grant date. The valuation method used is based on the
Black & Scholes option pricing model. The initial valuation is not adjusted
for any subsequent changes in value after the grant date.
The value is recognised in employee benefi ts expense on a straight-line basis
over the option vesting period by adjusting equity.
IFRS 2 has been applied only to stock options granted after 7 November
2002 that had not yet vested at 1 January 2005. As allowed under IFRS 2,
options granted before 7 November 2002 have not been measured or
recognised in the accounts.
GROUPE SEB
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