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Unilever Group Notes to the consolidated accounts 20 Called up share capital (continued) 0000§0000000000001111 Options granted to directors and employees to acquire ordinary shares of NV and PLC which were exercised during the years ended 31 December 1997, 1998 and 1999 were as follows: 0000§0000000000001111 Exercised Exercised Exercised In 1997 in 1998 in 1999 51110 51110 51110 Date Option price Number of Number of Number of granted per share shares shares shares 000000115511000 51110 51110 51110 NV Executive Share Option Scheme 1992 Fl. 46.25 90 728 — — (Shares of Fl. 1.12) 1992 Fl. 46.80 59 068 — — 1993 Fl. 49.28 167 944 65 300 — 1993 Fl. 55.35 38 796 8 632 — 1994 Fl. 48.00 268 804 118 160 91 884 1994 Fl. 48.70 31 508 48 072 23 528 1994 Fl. 51.27 33 356 — 8 120 1995 Fl. 50.30 30 656 161 740 51 148 1995 Fl. 56.63 27 140 63 060 49 360 1996 Fl. 58.52 8 228 11 908 108 628 1996 Fl. 71.62 3 040 13 172 2 208 1997 Fl. 94.30 — 200 8 776 (Shares of 1.4p) 1997 £4.07 — 1 320 58 352 000000115511000 51110 51110 51110 North American Executive Stock Option Plan 1992 US $ 25.69 77 400 33 000 5 800 (Shares of Fl. 1.12 of the New York Registry) 1993 US $ 26.81 125 916 61 892 5 300 1994 US $ 25.67 186 872 76 308 3 718 1995 US $ 31.95 161 585 92 337 3 516 1996 US $ 33.89 133 660 22 200 4 800 1997 US $ 48.74 — 6 065 799 (Shares of 1.4p in the form of American Depositary Receipts) 1997 US $ 6.72 — 40 552 5 356 000000115511000 51110 51110 51110 PLC 1985 Executive Share Options Schemes 1988 £1.09 114 832 — — (Shares of 1.4p) 1989 £1.34 35 376 43 140 — 1990 £1.62 68 420 38 700 81 348 1990 £1.66 — — 46 840 1991 £1.84 233 848 58 896 57 336 1991 £1.83 214 612 15 368 20 840 1991 £2.07 125 748 — 33 612 1992 £2.27 829 128 182 112 103 072 1992 £2.62 163 420 47 596 15 236 1993 £2.54 502 620 134 856 154 496 1993 £2.78 85 404 20 092 — 1994 £2.83 113 944 113 164 171 780 1994 £2.54 1 038 684 247 552 111 693 1994 £2.83 61 184 140 984 — 1995 £2.98 2 752 347 944 126 492 1995 £3.07 10 812 153 424 — 1996 £3.08 — 115 420 123 324 1996 £3.43 — 66 148 — 000000115511000 51110 51110 51110 PLC International 1997 Executive 1997 Fl. 94.30 — 2 400 6 140 Share Option Scheme 1998 Fl. 152.70 — — 160 (Share of Fl. 1.12) 1999 Fl. 139.94 — — 4 900 (Shares of 1.4p) 1997 £4.07 — 16 000 40 600 000000115511000 51110 51110 51110 NV Employee Share Option Scheme 1995 Fl. 50.87 47 414 9 760 17 296 (Shares of Fl. 1.12) 1996 Fl. 68.75 49 022 12 282 12 311 1997 Fl. 94.75 7 080 15 261 9 629 1998 Fl. 127.00 — 1 892 9 763 1999 Fl. 140.27 — — 4 601 000000115511000 51110 51110 51110 PLC 1985 Sharesave Scheme 1991 £1.46 789 884 — — (Shares of 1.4p) 1992 £1.82 11 912 048 487 891 — 1993 £2.28 636 079 5 160 748 190 561 1994 £2.29 380 839 586 407 3 556 228 1995 £2.68 484 543 590 956 383 370 1996 £2.78 399 239 317 218 187 593 1997 £3.71 1 552 49 281 176 932 1998 £5.94 — 35 26 634 000000115511000 51110 51110 51110
Unilever Group Notes to the consolidated accounts 20 Called up share capital (continued) 0000§0000000000001111 Exercised Exercised Exercised In 1997 in 1998 in 1999 51110 51110 51110 Date Option price Number of Number of Number of granted per share shares shares shares 000000115511000 51110 51110 51110 Unilever Savings Related Share Option Scheme (Ireland) (Shares of 1.4p) 1991 Ir£2.19 432 192 — — 000000115511000 51110 51110 51110 North American Employee Stock Purchase Plan (Shares of Fl. 1.12 of the New York Registry) 1995 US $ 28.89 969 724 — — 1997 US $ 47.83 — — 701 897 000000115511000 51110 51110 51110 All numbers of shares, and their option prices, have been adjusted to reflect the sub-division of each share into four shares, on 13 October 1997, each option having an option price one fourth of the previous option price. To satisfy options granted under NV share option schemes and under North American stock option/purchase plans, certain group companies hold certificates or depositary receipts of ordinary shares of NV and of PLC. At 31 December 1999 there were options outstanding to purchase 6 066 879 Fl. 1.12 ordinary NVshares (1998: 9 670 233 Fl. 1 ordinary NV shares), and 18 923 500 1.4p ordinary PLC shares (1998: 4 949 657 1.25p ordinary PLC shares) in respect of these schemes and plans. To satisfy options granted under the share option schemes in the United Kingdom, trusts in Jersey and the United Kingdom purchase and hold PLC shares. The book value of these shares, together with the borrowings of the trusts, is taken up in the entity accounts of PLC, as required by UITF Abstract 13. The trustees of these trusts have agreed, until further notice, to waive dividends on these shares, save for the nominal sum of 0.01p per 1.4p ordinary share. At 31 December 1999 there were options outstanding to purchase 1 078 001 Fl. 1.12 ordinary NV shares (1998: 546 328 Fl. 1 ordinary NV shares), and 43 905 600 1.4p ordinary PLC shares (1998: 42 720 873 1.25p ordinary PLC shares) in respect of these schemes. At 31 December 1998 the Jersey trust held ordinary shares of NV for the purposes of share option schemes in the United Kingdom. During 1999 its holding of NV shares was sold to NV, subject to an agreement to reacquire the shares at book value when needed to satisfy the exercise of the options. As a result the shares became NV ‘treasury’ shares, on which no dividend is payable. The book value of all shares held in respect of stock option schemes is eliminated on consolidation by deduction from other reserves (see note 22 on page 84). By PLC trusts By NV/Group companies 51110111511110 511101511110 1999 1998 1999 1998 0000000011111511110 51110 51110 51110 Number of ordinary PLC shares held (1999: 1.4p, 1998: 1.25p) 42 492 210 39 623 389 19 031 246 9 750 637 Number of ordinary NV shares held (1999: Fl. 1.12, 1998: Fl. 1) — 551 802 7 225 674 5 152 836 Book value of shares held Fl. million 638 537 1 196 593 Market value of shares held Fl. million 605 859 1 144 1 032 5111110 51110 51110 51110 At 31 December 1999 the exercise price of 31 435 091 PLC options and 4 247 803 NV options was above market price. These shares are accounted for in accordance with Dutch law. Any difference between the book value of the shares and the proceeds received when the shares are sold will be dealt with in reserves. Any difference between the cost of the shares and the exercise price of the related options is charged to the profit and loss account. Movements during 1998 and 1999 in the options granted to directors and employees were as follows: Outstanding Outstanding 1 January Granted Exercised Forfeited 31 December 5111105111105111105111105111 51110 51110 51110 51110 1998 NV Shares of Fl. 1 5 063 995 1 412 328 823 641 156 697 5 495 985 PLC Shares of 1.25p 52 225 599 13 830 163 8 975 804 4 688 852 52 391 106 5111105111105111105111105111 51110 51110 51110 51110 1999 NV Shares of Fl. 1.12 5 495 985 2 886 190 1 134 282 103 013 7 144 880 PLC Shares of 1.4p 52 391 106 19 193 476 5 671 715 3 083 767 62 829 100 5111105111105111105111105111 51110 51110 51110 51110 No options expired during 1998 or 1999. 0000§0000000000001111
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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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Page 37 and 38: Financial review The figures quoted
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Page 45 and 46: Corporate governance Directors The
Page 47 and 48: Corporate governance Jan Peelen* Pe
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Page 71 and 72: Notes to the consolidated accounts
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Page 127 and 128: Taxation for US residents A gift of
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