Ryanair 2010 Annual Report Download - page 174

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172
The movement in the share capital balance year on year principally relates to 5.5 million (2009: 0.7
million; 2008: 3.2 million) in new shares issued due to the exercise of share options. For the 2010 fiscal year
there were no cancellations of shares relating to any share buy-backs (2009: 18.1 million; 2008: 59.5 million).
The share capital of Ryanair consists of one class of stock, the ordinary equity shares. The ordinary
equity shares do not confer on the holders thereof the specific right to be paid a dividend out of profits.
(b) Share premium account
At March 31,
2010 2009 2008
1M 1M 1M
Balance at beginning of year ................................................................
...
617.4 615.8 607.4
Share premium arising from the exercise of 5.6 million options in
fiscal 2010, 0.6 million options in fiscal 2009 and 3.2 million
options in fiscal 2008................................................................
.......
14.5 1.6 8.4
Balance at end of year................................................................
..............
631.9 617.4 615.8
(c) Share options and share purchase arrangements
The Company has adopted a number of share option plans, which allow current or future employees or
executive directors to purchase shares in the Company up to an aggregate of approximately 5% (when
aggregated with other ordinary shares over which options are granted and which have not yet been exercised) of
the outstanding ordinary shares of Ryanair Holdings plc, subject to certain conditions. All grants are subject to
approval by the Remuneration Committee. These are exercisable at a price equal to the market price of the
ordinary shares at the time options are granted. The key terms of these option plans include the requirement that
certain employees remain in employment with the Company for a specified period of time.
Details of the share options outstanding are set out below:
Share Options
M
Weighted
Average
Exercise Price
Outstanding at March 31, 2007................................................................
....................
35.1 12.77
Exercised ................................................................................................
.....................
(3.2) 12.63
Granted ................................................................................................
........................
3.9 14.99
Expired ................................................................................................
........................
(0.2) 12.11
Forfeited ................................................................................................
......................
(0.8) 12.64
Outstanding at March 31, 2008................................................................
....................
34.8 13.04
Exercised ................................................................................................
.....................
(0.7) 12.49
Granted ................................................................................................
........................
10.0 12.56
Expired ................................................................................................
........................
(0.2) 12.94
Forfeited ................................................................................................
......................
(2.2) 13.00
Outstanding at March 31, 2009................................................................
....................
41.7 12.94
Exercised ................................................................................................
.....................
(5.6) 12.60
Granted ................................................................................................
........................
- -
Expired ................................................................................................
........................
(0.2) 12.83
Forfeited ................................................................................................
......................
(0.1) 12.49
Outstanding at March 31, 2010................................................................
....................
35.8 13.00
The mid-market price of Ryanair Holdings plc’s ordinary shares on the Irish Stock Exchange at March
31, 2010 was 13.68 (2009: 12.89, 2008: 12.80). The highest and lowest prices at which the Company’s shares
traded on the Irish Stock Exchange in the 2010 fiscal year were 13.77 and 12.74, respectively (2009: 13.41 and
11.97, respectively; 2008: 16.33 and 12.55, respectively). There were 14.1 million options exercisable at March
31, 2010 (2009: 15.4 million; 2008: 6.8 million). The average share price for the year was 13.29 (2009: 12.83,
2008: 14.81).
The weighted average share price (as of the dates of exercises) for all options exercised during the 2010
fiscal year was 13.50 (2009: 13.18; 2008: 15.21).