Financial Reporting - Rexel

14. | SHARE CAPITAL AND PREMIUM
14.1 | Changes in share capital and issuance premium
Rexel’s share capital is composed of ordinary shares, with a par value of €5. The following table shows
changes in the share capital and issuance premium:
Number of Shares
Share
capital
Issuance
premium
(in millions of euros)
On January 1, 2010 ……………………………………………………" 258,220,018 1,291.1 1,392.2
Exercise of share subscription options (1) …………………………… " 1,489,092 7.4 0.2
Issuance of shares in connection with free shares plan (2) …………" 147,763 0.7 (0.7)
Allocation of free shares (3) ………………………………………………"
Issuance of shares in connection with employee share purchase
- - (8.2)
plan……………………………………………………….. 356,123 1.8 0.2
On December 31, 2010 …………………………………..……………" 260,212,996 1,301.0 1,383.7
Exercise of share subscription options (1) ………………………………" 347,152 1.8 1.2
Issuance of shares in connection with payments of dividends (4) ……" 5,376,107 26.9 58.7
Issuance of shares in connection with free shares plan (2) ………… " 2,883,504 14.4 (12.6)
Allocation of free shares (3) ………………………………………………" - - (18.8)
On December 31, 2011 …………………………………..……………" 268,819,759 1,344.1 1,412.2
(1) Exercise of share subscription options
For the period ended December 31, 2011, 347,152 shares options were exercised by senior employees and
key management personnel (1,489,092 for the period ended December 31, 2010).
(2) Share issues related to bonus share plans
In May 2011, 268,416 shares were issued in connection with the 2009 bonus free shares plan (“Plan 2+2”)
and 2,590,621 shares were issued in connection with the 2007 bonus free shares plan (“Plan 4+0”) in April
2011. In October 2011, 24,467 shares were issued in connection with 2007 bonus free shares plan (“Plan
4+0”).
On June 24, 2010, 146,031 shares were issued in connection with the 2008 bonus free shares plan (“Plan
2+2”). In October 2010, 1,732 shares were issued in connection with 2008 bonus free shares plan (“Plan
2+2”).
These plans characteristics are detailed in note 15.
(3) Bonus share issue
In accordance with the approval by the Shareholders’ Meeting of May 20, 2010 and by the Supervisory
Board on May 11, 2011, the Management Board, during its meeting of May 12, 2011, decided to grant
2,082,748 shares to the executive management, operational managers and key employees of the Group
subject to certain conditions (see note 15). In October 11, 2011, 1,684,029 additional shares were granted.
Pursuant to the bonus share scheme, the remittance of the shares would occur at the end of the vesting
period either through the delivery of existing shares or newly issued shares. As a consequence, an allocation
was made to the “appropriated earnings” as the offsetting of the premium to be issued.
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