Ryanair 2009 Annual Report Download - page 162

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162
(b) Share premium account
At March 31,
2009 2008
€000 €000
Balance at beginning of year ................................................................
.......................
615,815 607,433
Share premium arising from the exercise of 651,488 options in fiscal 2009 and
3,238,540 in fiscal 2008 ................................................................
......................
1,611 8,382
Balance at end of year ................................................................................................
.
617,426 615,815
(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
Weighted
Average
Exercise Price
Outstanding at March 31, 2007 ................................................................
....................
35,107,978 €2.77
Exercised ................................................................................................
.....................
(3,238,540) €2.63
Granted ................................................................................................
........................
3,901,875 €4.99
Expired ................................................................................................
.........................
(153,308) €2.11
Forfeited ................................................................................................
.......................
(829,396) €2.64
Outstanding at March 31, 2008 ................................................................
....................
34,788,609 €3.04
Exercised ................................................................................................
.....................
(651,488) €2.49
Granted ................................................................................................
........................
10,000,000 €2.56
Expired ................................................................................................
.........................
(224,474) €2.94
Forfeited ................................................................................................
.......................
(2,187,202) €3.00
Outstanding at March 31, 2009 ................................................................
....................
41,725,445 €2.94
The mid-market price of Ryanair Holdings plc’s ordinary shares on the Irish Stock Exchange at March
31, 2009 was €2.89 (March 31, 2008: €2.80). The highest and lowest prices at which the Company’s shares
traded on the Irish Stock Exchange in the 2009 fiscal year were €3.41 and €1.97, respectively (2008: €6.33 and
€2.55, respectively). There were 15,418,486 options exercisable at March 31, 2009 (March 31, 2008:
6,838,970). The average share price for the year was €2.83 (2008: €4.81).
The weighted average share price (as of the dates of exercises) for all options exercised during the 2009
fiscal year was €3.18 (2008: €5.21).
At March 31, 2009 the range of exercise prices and weighted average remaining contractual life of
outstanding and exercisable options was as follows:
Options outstanding Options exercisable
Range of
exercise
price (€) Number
outstanding
Weighed-
average
remaining
contractual life
(years)
Weighted-
average
exercise
price (€) Number
exercisable
Weighed-
average
remaining
contractual life
(years)
Weighted-
average
exercise
price (€)
2.21 - 3.21 37,298,411 3.28 2.71 14,248,411 0.84 2.62
3.77 – 4.99 4,427,034 3.82 4.84 1,170,075 1.26 4.99
2.21 – 4.99 41,725,445 3.34 2.94 15,418,486 0.87 2.80