Chrysler 2008 Annual Report Download - page 301

Fiat S.p.A. Statutory Financial Statements at 31 December 2008300
The binomial model used to value the July 2008 stock option plan, assumes future dividends on Fiat S.p.A. ordinary shares are the
same as those declared by the Group in 2006. The risk-free interest rates utilised in the pricing model are as follows:
figures in % Risk-free rate
July 2009 5.3182
July 2010 5.2981
July 2011 5.2686
July 2012 5.2173
July 2013 5.1617
July 2014 5.1174
For those options exercised during the period, the weighted average market price of Fiat S.p.A. ordinary shares at the exercise date
was €13.99 per share.
As discussed under Significant accounting policies, for share-based payments the Company applies IFRS 2 to all stock options
granted after 7 November 2002, which were not yet exercisable at 1 January 2005. This includes the July 2004, November 2006
and July 2008 stock option plans.
The following disclosures complete the information provided on equity items:
Availability for use of main equity items
(€ thousands) At 31 December 2008 Possible use Available amount
Share capital 6,377,263 –
Reserves:
- Additional paid-in capital 1,540,885 A, B, C (*) 1,540,885
- Legal reserve 639,503 B –
- Reserve available for the purchase of treasury shares 1,142,740 A, B, C 1,142,740
- Reserve for treasury shares in portfolio 656,553 – –
- Reserve for Spin-off difference 39,194 A, B, C 39,194
- Reserve under law 413/1991 22,591 A, B, C 22,591
- Extraordinary reserve 28,044 A, B, C 28,044
- Retained profit/(loss) 1,084,578 A, B, C 1,084,578
Key:
A: capital increase
B: coverage of losses
C: dividend
(*) Fully available to increase capital and cover losses. Any other use requires an increase of the legal reserve up to 20% of share capital (this may also be carried out by making a transfer from additional
paid-in capital itself). The increase required for this at 31 December 2008 would be €635,950 thousand.