VINCI - 2008 annual report

Parent company fi nancial statements
(carrying amount)
Cash transactions on VINCI shares
266 VINCI __ 2008 ANNUAL REPORT
Value in
use
in euros
Situation at
31/12/2007
Value
in €m
Value in
use
in euros
Increases:
buybacks
Value
in €m
Value in
use
in euros
Decreases:
disposals and
transfers
Value
in €m
Reclassifi cations:
transfers between
accounts
Value in
use
in euros
Value
in €m
Value in
use
in euros
Situation at
31/12/2008
Shares bought back to use in payment or exchange 52.81 928.8 45.51 136.6 - - 52.20 (343.3) 51.53 722.1
Shares bought back to be cancelled - - 46.55 105.0 - - - - 46.55 105.0
Sub-total directly-held treasury shares
Liquidity account managed
928.8 241.6 - (343.3) 827.1
by Rothschild & Cie Banque 52.00 15.6 42.12 151.9 42.88 (167.5) - - - -
Sub-total fi nancial non-current assets
Shares intended to be transferred to benefi ciaries
within the Group of share purchase option or free
944.4 393.5 (167.5) (343.3) 827.1
share plans 46.62 11.7 - - 50.54 (8.9) 52.20 343.3 51.07 346.1
Sub-total current assets 11.7 - (8.9) 343.3 346.1
Total
Transactions on VINCI share derivatives
Premiums on VINCI share purchase options
regarding shares to be acquired through exercise of
956.1 393.5 (176.4) - 1,173.2
options and intended to be cancelled subsequently
Premiums on VINCI share purchase options relating
25.4 - (25.4) - -
to share purchase options or free share plans 120.7 20.3 (66.8) - 74.2
Total 146.1 20.3 (92.2) - 74.2
During 2008, and excluding sales and purchases made under the liquidity contract, VINCI purchased 5,258,274 of its own shares for a total of
€241.6 million, an average price of €45.96 per share.
Of this, 2,255,754 shares were acquired by exercising call options. These shares are to be cancelled.
Transaction costs on these purchases amounted to €25,500.
During the same period, 176,641 shares were transferred to holders of purchase options exercised, for a total price of €2 million; an average price
of €11.49.
6,575,443 shares initially bought back with a view to being used as consideration were reallocated in 2008 to covering the 2006 VINCI share
purchase option plan (2,224,193 shares) and the 2007 and 2008 free share plans (2,189,100 and 2,162,150 shares respectively).
4. Deferred expenses
(in € millions) 2007 New deferrals Amortisation 2008
12.6 2.8 9.8
Deferred expenses at 31 December 2008 mainly comprised the balance of expenses on the loan to acquire ASF (€2.3 million) and expenses and
redemption premiums in 2006 on the €500 million undated subordinated loan (€6.6 million).
Value
in €m