Adidas 1997 Annual Report Download - page 52

Download and view the complete annual report

Please find page 52 of the 1997 Adidas annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 63

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63

50
The difference between realized share price and exercise price for options exercised by board
members amounted to DM 4,117,000.
22. Subsequent events After the closing of the purchase of the Family Holding Company, and with the approval of the
French authorities, adidas Salomon France S.A. launched in January 1998 a simplified public tender
offer for any and all outstanding shares of Salomon S.A., a publicly traded company admitted to
the official market of the Paris Stock Exchange. The offer price of FRF 521.50 in the tender offer
was the same as the implied price per Salomon share paid to the shareholders of the Family
Holding Company. After the closing of this tender offer in February 1998 the Company has
acquired over 95% of the shares of Salomon S.A. Under French law the Company has now the
right to launch a going private offer followed by a mandatory repurchase after which Salomon’s
shares would be delisted.
Herzogenaurach, February 11, 1998
The Board of Directors of adidas-Salomon AG