Prospectus - Notowania

2.2 Other equity instruments (Performance Shares)
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>> Condensed Consolidated Financial Statements
Parte I) – Share-Based Payments
The economic value of Performance Shares is measured by considering the share market price at the grant date less the
present value of the future dividends during the performance period. Parameters are estimated by applying the same model
used for Stock Options measurement.
Any new Performance Shares’ Plans haven’t been granted during 2009.
2.3 Employee Share Ownership Plan
For both Discount Shares and Matching Shares (or rights to receive them) the fair value will be measured at the end of the
Enrolment Period according to the weighted average price paid by Participants to buy the Investment Shares on the market.
All Profit and Loss and Net Equity effects related to ESOP 2008 will be booked as follows:
- during 2009 for Discount Shares;
- during the three-year period 2010-2012 for Matching Shares (or rights to receive them).
B. Quantitative Information
Effects on Profit and Loss
All Share-Based Payments granted after November 7, 2002 (which vesting period ends after January 1, 2005) are included
within the scope of the IFRS2.
Financial liabilities related to cash-settled payment plans have been recognized if not yet settled on January 1, 2005.
Financial statement presentation related to share based payments
(€ ’000)
09.30.2009 09.30.2008
Total Vested Plans Total Vested Plans
Costs 44,613 26,371
- connected to Equity Settled Plans 42,981 56,614
- connected to Cash Settled Plans (1) 1,632 -30,243
Debts for Cash Settled Plans 8,907 5,085 45,656 26,076
-of which Intrinsic Value 3,942 25,770
(1) Partly included in “payroll – other staff” in keeping with the recognition of other monetary charges connected to
the remuneration of services provided by beneficiaries. The revenues recognized in 2008 arose from the
decrease of liabilities related to synthetic cash settled “Share Appreciation Rights” linked to the share-value and
performance results of some Group-Companies.