Management Options Programmes
As of 31 March 2012 there have been two management options programmes (Programme II and Programme III) adopted under the incentive scheme for the Company’s officers. The details concerning the programmes have been presented in the tables below. The Company does not expect to allot any further options under the Programme II or Programme III.
| Name of the Programme |
Share options in the programme (number of shares) |
Exercise price of one option (PLN) | Exercise Period |
| Programme II part 1 | 149,400 | 114.48 | 06.12.2009 – 06.12.2013 |
| Programme II part 2 | 158,400 | 114.48 | 07.12.2010 – 06.12.2014 |
| Programme II part 3 | 73,000 | 14.91 | 08.12.2011 – 06.12.2015 |
| Programme II part 31 | 31,000 | 16.97 | 15.01.2012 – 15.01.2016 |
| Programme II part 4 | 198,025 | 40.64 | 10.12.2012 – 10.12.2016 |
| Programme II part 5 | 6,000 | 44.16 | 12.07.2014 – 12.07.2017 |
| Programme III tranche 1 | 120,000 | 1.00 | 13.06.2014 – 13.12.2015 |
| Total | 735,825 | x | x |
As at 31 March 2012 the cost recognised as the cost to be recognised in the profit and loss account as the cost of the management options programme is presented in the table below.
| Year | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012F | 2013F | 2014F |
| Costs (PLN) | 1,505,791 |
5,622,309 |
6,779,758 |
4,818,182 |
3,883,650 |
1,669,837 |
1,148,269 |
24,265 |
12,764 |
The Programme III provided for allotment of options for 360,000 shares in Dom Development S.A. Until now the options allotted under the Programme III entitle to 120,000 shares.
On 29 March 2012 the Supervisory Board adopted a resolution regarding the rules of continued application of the Programme II and Programme III of the Management Options of which it informed in the current report No. 17/2012. Pursuant to those resolutions the Company will not re-allot the options if the rights thereto expire and it will not allot the remaining 240,000 options under the Programme III.