HSBC 2001 Annual Report Download - page 155

153
Upon acquisition of CCF in 2000, HSBC
Holdings ordinary shares of US$0.50 each were
purchased by the HSBC Holdings General Employee
Benefit Trust. These shares may be exchanged for
CCF shares upon the exercise of CCF employee
share options in the same ratio as the Exchange Offer
for CCF (13 HSBC Holdings ordinary shares of
US$0.50 for each CCF share). As a potential
beneficiary of the Trust, C F W de Croisset has a
technical interest in all of the shares held by the
Trust. At 31 December 2001, the Trust held
38,788,413 HSBC Holdings plc ordinary shares of
US$0.50 each.
At 31 December 2001, C F W de Croisset held
the following options to acquire CCF shares of 5
each. On exercise of these options each CCF share
will be exchanged for 13 HSBC Holdings ordinary
shares of US$0.50 each. The options were granted
by CCF for nil consideration at a 5 per cent discount
to the market value at the date of award. There are
no performance criteria conditional upon which the
outstanding options are exercisable.
CCF shares of €5 each
Options held a
t
1 January 2001 Exercise price per share(€) Options held at 31 December 2001
Equivalent HSBC Holdings
ordinary shares of US$0.50 each
at 31 December 2001 Date of awar
d
Exercisable from Exercisable until
10,000
30,000
30,000
30,000
30,000
28,000
28,000
32.78
34.00
35.52
37.05
73.50
81.71
142.50
10,000
30,000
30,000
30,000
30,000
28,000
28,000 1
130,000
390,000
390,000
390,000
390,000
364,000
364,000
23 Jun 1994
22 Jun 1995
9 May 1996
7 May 1997
29 Apr 1998
7 Apr 1999
12 Apr 2000
23 Jun 1996
22 Jun 1997
9 May 1998
7 Jun 2000
7 Jun 2000
7 Jun 2000
1 Jan 2002
23 Jun 2004
22 Jun 2005
9 May 2006
7 May 2007
29 Apr 2008
7 Apr 2009
12 Apr 2010
1The exercise of this option was conditional upon continued employment with CCF until 1 January 2002 which has now been
satisfied.
No options over CCF shares of 5 each were
awarded to or exercised by C F W de Croisset during
the year.
At 31 December 2001, executive Directors and
Senior Management held, in aggregate, options to
subscribe for 1,866,530 ordinary shares of US$0.50
each in HSBC Holdings under the HSBC Holdings
Executive Share Option Scheme, HSBC Holdings
Group Share Option Plan and HSBC Holdings
savings-related share option plans. These options are
exercisable between 2002 and 2011 at prices ranging
from £2.1727 to £8.712.