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Unilever Group Notes to the consolidated accounts 33 Equity based compensation plans (continued) 00000000000000001111 1999 1998 1997 00000001111011111011111011111101111 01111 01111 NV Option value informatio n (a) Fair value per option (b) Fl. 26.64 Fl. 28.44 Fl. 9.04 Valuation assumptions Expected option term 5 years 4 years 4 years Expected volatility 19.68% 18.93% 14.91% Expected dividend yield 1.56% 1.38% 4.36% Risk-free interest rate 3.46% 4.46% 4.54% PLC Option value informatio n (a) Fair value per option (b) £3.65 £5.15 £1.48 Valuation assumptions Expected option term 5 years 5 years 5 years Expected volatility 22.82% 17.70% 15.24% Expected dividend yield 2.84% 1.50% 5.94% Risk-free interest rate 4.58% 6.11% 7.12% (a) Weighted average of options granted during each period. (b) Estimated using Black Scholes option pricing method. 00000001111011111011111011111101111101111101111 The following table summarises information about fixed price stock options outstanding at 31 December 1999: 00000001111011111011111011111101111101111101111 Options Outstanding Options Exercisable 00511110051100511005 1100511005 Number Weighted Number outstanding at average Weighted exercisable at Weighted Range of 31 December remaining average 31 December average exercise prices 1999 contractual life exercise price 1999 exercise price 00111511 1001111 1001111 1001111 11005 1005 NV Options Fl. 50.29 147 140 6 months Fl. 50.29 147 140 Fl. 50.29 Fl. 56.61 156 012 1 year Fl. 56.61 156 012 Fl. 56.61 Fl. 58.51 278 820 2 years Fl. 58.51 278 820 Fl. 58.51 Fl. 71.60 198 896 2 years Fl. 71.60 198 896 Fl. 71.60 Fl. 94.30 336 448 3 years Fl. 94.30 336 448 Fl. 94.30 Fl. 152.70 519 070 4 years Fl. 152.70 519 070 Fl. 152.70 Fl. 143.20 10 956 4 years Fl. 143.20 10 956 Fl. 143.20 Fl. 139.94 1 131 315 10 years Fl. 139.94 1 131 315 Fl. 139.94 00111511 1001111 1001111 1001111 11005 1005 Fl. 50.29 to Fl. 152.70 2 778 657 Fl. 114.32 2 778 657 Fl. 114.32 00111511 1001111 1001111 1001111 11005 1005 PLC Options £4.07 2 224 588 3 years £4.07 2 224 588 £4.07 £6.68 3 408 280 4 years £6.68 3 408 280 £6.68 £6.09 81 877 4 years £6.09 81 877 £6.09 £5.55 7 378 275 10 years £5.55 7 378 275 £5.55 00111511 1001111 1001111 1001111 11005 1005 £4.07 to £6.68 13 093 020 £5.59 13 093 020 £5.59 00000001111011111011111011111101111101111101111
Unilever Group Notes to the consolidated accounts 33 Equity based compensation plans (continued) 00000000000000001111 The NV Sharesave Plan All directors of NV and all employees of Unilever Nederland B.V., may participate in the share option plan for employees in the Netherlands if they are on the payroll at the date of grant and, until 1997, participated in the Save-As-You-Earn Plan. The grant of share options is made after a resolution to such effect has been adopted by the Board of Unilever Nederland B.V. The share options are granted at 100% of the market price on the date of the granting and can be exercised during a period of five years. Options granted since 1998 can generally be exercised after five years. In 1997 each participant was granted an option to acquire 16 shares; in 1998 and 1999 there were grants of 50 shares to each participant. A summary of the status of the NV Sharesave Plan as at 31 December 1999, 1998 and 1997 and changes during these years is presented below: 00000001111011111011111011111101111101111101111 For the years ended 31 December: 1999 1998 1997 111151111105111 1051111105111 1051111105111 Weighted Weighted Weighted Number average Number average Number average of shares price of shares price of shares price 011155555555551 110511 110511 110511 110511 110511 Outstanding at the beginning of the year 467 687 Fl. 103.71 236 028 Fl. 72.58 248 808 Fl. 60.24 11111511 110511 110511 110511 110511 110511 Granted 276 751 Fl. 140.27 271 173 Fl. 127.00 90 736 Fl. 94.75 Exercised 53 600 Fl. 84.40 39 195 Fl. 77.23 103 516 Fl. 62.34 Forfeited — — 319 Fl. 127.00 — — 11111511 110511 110511 110511 110511 110511 Outstanding at the end of the year 690 838 Fl. 119.85 467 687 Fl. 103.71 236 028 Fl. 72.58 11111511 110511 110511 110511 110511 110511 Options exercisable at the end of the year 159 489 Fl. 73.40 198 725 Fl. 72.19 236 028 Fl. 72.58 00000001111011111011111011111101111101111101111 1999 1998 1997 00000001111011111011111011111101111 01111 01111 Option value informatio n (a) Fair value per option (b) Fl. 29.59 Fl. 28.88 Fl. 12.19 Valuation assumptions Expected option term 3 years 5 years 5 years Expected volatility 29.46% 23.32% 15.37% Expected dividend yield 1.56% 1.38% 4.36% Risk-free interest rate 3.17% 3.67% 4.35% (a) Weighted average of options granted during each period. (b) Estimated using Black Scholes option pricing method. 00000001111011111011111011111101111101111101111 The following table summarises information about fixed price stock options outstanding at 31 December 1999: 00000001111011111011111011111101111101111101111 Options Outstanding Options Exercisable 00511110051100511005 1100511005 Number Weighted Number outstanding at average Weighted exercisable at Weighted Range of 31 December remaining average 31 December average exercise prices 1999 contractual life exercise price 1999 exercise price 00511 1005 1005 1005 11005 005 Fl. 50.87 43 970 10 months Fl. 50.87 43 970 Fl. 50.87 Fl. 68.75 56 753 2 years Fl. 68.75 56 753 Fl. 68.75 Fl. 94.75 58 766 3 years Fl. 94.75 58 766 Fl. 94.75 Fl. 127.00 259 199 4 years Fl. 127.00 — — Fl. 140.27 272 150 5 years Fl. 140.27 — — 00511 1005 1005 1005 11005 005 Fl. 50.87 to Fl. 140.27 690 838 Fl. 119.85 159 489 Fl. 73.40 00511 1005 1005 1005 11005 005
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Unilever N.V. 1999 Annual Report on
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1 Unilever Annual Report on Form 20
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Financial highlights • Excellent
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Chairmen’s Statement The principa
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Selected financial data Consolidate
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Selected financial data By geograph
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About Unilever History and structur
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Financial review The figures quoted
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Financial review Total borrowings a
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Operating review Year 2000 We had n
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Operating review sustainability ind
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Corporate governance Directors The
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Corporate governance Jan Peelen* Pe
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Page 69 and 70: Consolidated balance sheet as at 31
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