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Rothschild & Co | Annual Report 2017
57
1. Overview
4. Financial statements
3.
Management report
2. Business review
2.3.5 Situation as at 31 December 2017
The table below summarises all information on outstanding options as at 31 December 2017.
Date of
authorisation
by the General
Meeting
Grant date
by the
Managing
Partner
Totalof
options
granted
Numberof
beneficiaries
Share
capital%
at the
grantdate
Subject to the
fulfilmentof
performance
conditions
Exercise
period
startdate
Expiration
date
Subscription
orpurchase
price (ineuro)
Totaloptions
exercised
Totaloptions
forfeited
Totaloptions
remaining
Options
2013
Options
2013–1
26 Sept.
2013
11 Oct.
2013
780,000
57 1.10%
No
30 Nov.
2016
11 Oct.
2023
17.50 162,500 20,000
597,500
Options
2013–2
26 Sept.
2013
11 Oct.
2013
780,000
57 1.10%
No
11 Oct.
2017
11 Oct.
2023
18.00 112,500 20,000
647,500
Options
2013–3
26 Sept.
2013
11 Oct.
2013
780,000
57 1.10%
No
11 Oct.
2018
11 Oct.
2023
19.00
– 20,000
760,000
Options
2013–4
26 Sept.
2013
11 Oct.
2013
780,000
57 1.10%
No
11 Oct.
2019
11 Oct.
2023
20.00
– 20,000
760,000
Options
2015
Options
2015–1
26 Sept.
2013
9 Dec.
2015
115,000
10 0.16%
No
11 Oct.
2018
9 Dec.
2025
23.62
–
–
115,000
Options
2015–2
26 Sept.
2013
9 Dec.
2015
115,000
10 0.16%
No
11 Oct.
2019
9 Dec.
2025
24.12
–
–
115,000
Options
2015–3
26 Sept.
2013
9 Dec.
2015
115,000
10 0.16%
No
11 Oct.
2020
9 Dec.
2025
25.12
–
–
115,000
Options
2015–4
26 Sept.
2013
9 Dec.
2015
115,000
10 0.16%
No
11 Oct.
2021
9 Dec.
2025
26.12
–
–
115,000
Options
2017
Options
2017–1
29 Sept.
2016
13 Dec.
2017
277,500
20 0.36%
Yes
(1)
11 Oct.
2020
13 Dec.
2027
31.56
–
–
277,500
Options
2017–2
29 Sept.
2016
13 Dec.
2017
277,500
20 0.36%
Yes
(1)
11 Oct.
2021
13 Dec.
2027
32.06
–
–
277,500
Options
2017–3
29 Sept.
2016
13 Dec.
2017
277,500
20 0.36%
Yes
(1)
11 Oct.
2022
13 Dec.
2027
33.06
–
–
277,500
Options
2017–4
29 Sept.
2016
13 Dec.
2017
277,500
20 0.36%
Yes
(1)
11 Oct.
2023
13 Dec.
2027
34.06
–
–
277,500
Total
–
–
4,690,000
– 6.5%
–
–
–
– 275,000 80,000 4,335,000
(1) Please refer to the summary of the performance conditions set out in Section 2.3.4.
As at 31 December 2017, 4,335,000 options were still outstanding and exercisable in accordance with the terms and conditions of the 2013, 2015 and
2017 Equity Schemes.
2.4 Share buyback programme
2.4.1 Share buyback programme during the 2017 financial year
The share buyback programme approved by the shareholders at the General Meeting held on 28 September 2017 and in force during the 2017 financial
year, is as follows:
General Meeting of 28 September 2017
Period of validity
From 28 September 2017 to 28 March 2018
Resolution approving the programme 16
Maximum number of shares
10% of the share capital at the date on which the purchases are made, however the total number of the
Company’s own shares held, directly or indirectly, by it following such purchases shall not exceed 10% of
those outstanding.
Maximum purchase price per share €50
Maximum amount
€386,450,050
Under the current programme, the shares could be purchased, sold or otherwise transferred for the purposes set out in the European regulations and in
accordance with the market prices accepted by the French Financial Markets Authority (“AMF”), namely to:
• reduce the share capital;
• award shares to employees;
• tender in exchange or as consideration for future external growth transactions; and
• make a market and promote liquidity in the shares under liquidity contracts entered into with independent investment service providers authorising
them to purchase a certain number of shares in accordance with the AMF Regulations.