DHL 2001 Annual Report Download - page 46
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46
Postal Service Transformation Act amended
In the course of the year under review, the majority shareholder amended
the Postumwandlungsgesetz (German Postal Service Transformation Act) as
announced at the time of our IPO on November 20,2000. The Federal Republic
of Germany is now no longer obliged to hold a majority of the shares in the com-
pany. The Federal Minister of Finance said in December 2001:“Further steps
toward the privatization of Deutsche Post AG ... will be taken if the conditions
on the capital markets are right.”
Management stock option plan
At the time of our IPO, Deutsche Post World Net established a stock option plan
for around 1,000 executives. The exercise of the options, following a three-year
lock-up period, is tied to two conditions: the performance of the Deutsche Post
share price, and the relative performance of the share price against the perfor-
mance of the Dow Jones Euro STOXX Total Return Index.In March of the year
under review, the strike price for the share options was set at €23.05.
Distribution of shares* by country as of December 31, 2001
31.6% Germany
31.1% United Kingdom
21.3% USA
6.0% Switzerland
4.4% Belgium
3.3% Luxembourg
0.6% France
0.4% Netherlands
1.3% Other
*Free float shares among legal entities.