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Unilever Annual Report & Accounts and Form 20-F 2000 Financial Statements
68
Notes to the consolidated accounts
Unilever Group
Unilever Annual Report & Accounts and Form 20-F 2000Unilever Annual Report & Accounts and Form 20-F 2000
21 Called up share capital continued
To satisfy options granted under NV share option plans, North American stock option/purchase plans and the Restricted Share Plan, certain
group companies hold certificates or depositary receipts of ordinary shares of NV and of PLC. At 31 December 2000 there were options
outstanding to purchase 7 528 810 (1999: 6 066 879) Fl. 1.12 ordinary NV shares, and 27 733 624 (1999: 18 923 500) 1.4p ordinary PLC
shares in respect of these schemes and plans.
To satisfy options granted under the share option plans and the Restricted Share Plan in the United Kingdom, trusts in Jersey and the United
Kingdom purchase and hold PLC shares. The book value of these shares, together with the borrowings of the trusts, is taken up in the
entity accounts of PLC, as required by UITF Abstract 13. The trustees of these trusts have agreed, until further notice, to waive dividends
on these shares, save for the nominal sum of 0.01p per 1.4p ordinary share. At 31 December 2000 there were options outstanding to
purchase 1 608 128 (1999: 1 078 001) Fl. 1.12 ordinary NV shares, and 41 946 202 (1999: 43 905 600) 1.4p ordinary PLC shares in
respect of these plans.
The book value of all shares held in respect of stock option plans is eliminated on consolidation by deduction from other reserves (see note
23 on page 69).
By PLC trusts By NV/Group companies
2000 1999 2000 1999
Number of 1.4p ordinary PLC shares held 40 552 436 42 492 210 27 394 112 19 031 246
Number of Fl. 1.12 ordinary NV shares held ——9 417 914 7 225 674
Book value of shares held million 290 290 738 542
Market value of shares held million 373 275 886 519
At 31 December 2000 the exercise price of 12 243 522 PLC options and 1 354 607 NV options w as above market price. Shares held to
satisfy options are accounted for in accordance with Dutch law. Any difference betw een the market value of the shares at the grant date
and the exercise price of the related options is charged to the profit and loss account over the vesting period. In accordance w ith Dutch
law, all other differences between the purchase price of the shares held to satisfy options granted and the exercise price of those options
are charged to other reserves. During 2000 these differences w ere not material.
Movements during 1999 and 2000 in the options granted to directors and employees w ere as follows:
Outstanding Outstanding
1 January Granted Exercised Forfeited 31 December
1999
NV Shares of Fl. 1.12 5 495 985 2 886 190 (1 134 282) (103 013) 7 144 880
PLC Shares of 1.4p 52 391 106 19 193 476 (5 671 715) (3 083 767) 62 829 100
2000
NV Shares of Fl. 1.12 7 144 880 3 325 884 (926 985) (406 841) 9 136 938
PLC Shares of 1.4p 62 829 100 21 949 358 (7 894 530) (7 204 102) 69 679 826
No options expired during 1999 or 2000.