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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