At 31 December 2007, the Company’s issued common stock amounted to EUR 69.7 million, comprising 69,710,054 fully paid-up shares of EUR 1 par value each. Changes in the total number of shares issued by the Company during the last five years were as follows:
Change in Common Stock
A total of 135,750 stock subscription options were exercised during the period, representing 2.1% of the opening total number of stock subscription options at December 2006.
|
|
Year |
Changes in
Common stock |
Date
|
New shares |
Total number of shares |
Common stock |
Additional paid-in capital |
New Common stock |
| |
|
|
|
|
|
|
| |
|
|
|
|
(in EUR millions) |
|
| |
2003 |
ORA bonds
Exercice of stock options |
|
3,657,000
156,957
|
47,712,676
47,869,633
|
3.7
0.2
|
231.1
4.3
|
47.7
47.9
|
|
| |
2004 |
Consideration for Sema |
22/01/2004 |
19,000,000 |
66,869,633 |
19.0 |
958.3 |
66.9 |
| |
|
Exercise of stock options |
31/03/2004 |
47,186 |
66,916,819 |
0.1 |
1.7 |
66.9 |
|
|
|
Exercise of stock options |
30/06/2004 |
12,820 |
66,929,639 |
0.0 |
0.5 |
66.9 |
|
|
Exercise of stock options |
30/09/2004
|
1,320
|
66,930,959
|
0.0 |
0.0 |
66.9 |
|
|
Exercise of stock options |
31/12/2004
|
7,295 |
66,938,254 |
0.0 |
0.2 |
66.9 |
|
|
|
2005 |
Exercise of stock options |
31/03/2005 |
222,499 |
67,160,753 |
0.2 |
7.2 |
67.2 |
|
|
Exercise of stock options |
30/06/2005
|
78,260
|
67,239,013
|
0.1
|
1.9
|
67.2
|
|
|
Exercise of stock options |
30/09/2005
|
91,253
|
67,330,266
|
0.1
|
2.6
|
67.3
|
| |
|
Exercise of stock options |
31/12/2005 |
33,199 |
67,363,465 |
0.0 |
1.0 |
67.4
|
|
|
| |
2006 |
Exercise of stock options |
31/03/2006 |
144,022 |
67,507,487 |
0.1 |
5.3
|
67.5
|
| |
Exercise of stock options |
30/06/2006 |
31,645
|
67,539,132 |
0.0 |
0.9 |
67.5 |
| |
Exercise of stock options |
30/09/2006 |
85,844
|
67,624,976
|
0.1
|
2.1 |
67.6 |
| |
Stock purchase plan |
20/12/2006 |
1,230,757 |
68,855,733 |
1.2 |
42.0 |
68.9 |
| |
Exercise of stock options |
31/12/2006 |
25,232 |
68,880,965 |
0.0 |
1.0 |
68.9 |
|
| |
2007 |
Exercise of stock options |
31/03/2007
|
23,624
|
68,904,589
|
0.0
|
0.6
|
68.9
|
| |
|
Exercise of stock options |
30/06/2007
|
79,229
|
68,983,818
|
0.1
|
2.0
|
69.0
|
| |
|
Exercise of stock options |
30/09/2007 |
21,753 |
69,005,571 |
0.0 |
0.5 |
69.0 |
| |
Stock Purchase Plan |
20/12/2007 |
693,439 |
69,699,010 |
0.7 |
21.9 |
69.7 |
|
|
Exercise of stock options |
31/12/2007 |
11,144 |
69,710,054 |
0.0 |
0.3 |
 |
Potential Common Stock
Based on 69,710,054 shares in issue at 31 December 2007, the common stock of the Company could be increased by 5,982,272 new shares, representing 7.9% of the common stock after dilution. This could occur only through the exercise of stock subscription options granted to employees, which are as follows:
|
|
|
31 December 2007 |
31
December 2006 |
Change |
|
%dilution |
in EUR millions |
| |
|
| |
Number of shares outstanding |
69,710,054 |
68,880,965 |
829,189 |
|
|
|
| |
|
|
|
|
|
|
|
|
|
Stock subscription options |
5,982,272 |
6,445,741 |
(463,469) |
|
7.9% |
372.3 |
| |
Stock subscription warrants |
|
|
|
|
|
|
|
| |
Total Employees=potential dilution |
5,982,272 |
6,445,741 |
(463,469) |
|
7.9% |
372.3 |
|
| |
Total potential common stock |
75,692,426 |
75,326,706 |
365,720 |
|
|
| |
The exercise of all the options and warrants would have the effect of increasing total shareholders’ equity by EUR 372 million and common stock by EUR 6.0 million. Nevertheless, 7.4% of stock subscription options and stock subscription warrants granted to employees have exercise conditions higher than the stock market price at 31 December 2007 (EUR 35.35).
Stock options evolution
During 2007, 25,000 new stock subscription options were granted to employees at a share price of EUR 40.35
A total of 352,719 stock subscription options were cancelled and 135,750 were exercised during the period.