Ryanair 2012 Annual Report Download - page 176

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176
with Section 6.8 of the Listing Rules of the Irish Stock Exchange. The increases in transfer values of the accrued
benefits have been calculated as at the year-end in accordance with version 1.1 of Actuarial Standard of Practice
PEN-11.
(d) Shares and share options
(i) Shares
Ryanair Holdings plc is listed on the Irish, London and NASDAQ stock exchanges.
The beneficial interests as at March 31, 2012, 2011 and 2010 of the directors and of their spouses and
minor children in the share capital of the Company are as follows:
No. of Shares at March 31,
2012
2011
2010
David Bonderman ................................................................................................
9,230,671
13,230,671
13,230,671
Michael O‘Leary ................................................................................................
51,081,256
55,081,256
60,000,016
James Osborne ................................................................................................
510,256
1,010,256
1,410,256
Kyran McLaughlin ................................................................................................
200,000
200,000
200,000
Michael Horgan ................................................................................................
50,000
50,000
50,000
Paolo Pietrogrande ................................................................................................
20,000
20,000
-
(ii) Share options
The share options held by each director in office at the end of fiscal 2012 were as follows:
No. of Options at March 31,
2012
2011
2010
David Bonderman (b) ................................................................................................
25,000
25,000
25,000
Michael Horgan (b)................................................................................................
25,000
25,000
25,000
Klaus Kirchberger (b) ................................................................................................
25,000
25,000
25,000
Kyran McLaughlin (b) ................................................................................................
25,000
25,000
25,000
Michael O‘Leary (a) ................................................................................................
-
-
102,037
James Osborne (b) ................................................................................................
25,000
25,000
25,000
Paolo Pietrogrande (b) ................................................................................................
25,000
25,000
25,000
______________
(a) These options were granted to Michael O‘Leary as follows: 35,402 in fiscal 2003 at €2.86 and 45,838 in fiscal
2004 at €2.21 and 20,797 in fiscal 2008 at €4.86 (the market values at the dates of grant), in all cases under the
2003 share option plan; these were exercisable between 2008 and 2010. On June 18, 2010, Michael O‘Leary
exercised 35,402 options at €2.86 and on July 27, 2010, exercised 45,838 options at €2.21. The 20,797 options
granted in fiscal 2008 at €4.86 lapsed on July 31, 2010.
(b) These options were granted to these directors at an exercise price of €4.96 (the market value at the date of grant)
during the 2008 fiscal year and are exercisable between June 2013 and June 2015.
Directors not referred to above held no shares or share options.
In the 2012 fiscal year the Company incurred total share-based compensation expense of €0.1 million
(2011: €0.05 million; 2010: €0.05 million) in relation to directors.
20 Finance expense
Year ended
March 31,
2012
Year ended
March 31,
2011
Year ended
March 31,
2010
€M
€M
€M
Interest payable on bank loans wholly repayable after five years ............................
109.3
93.8
71.6
Interest arising on pension liabilities, net (see Note 21) ................................
(0.1)
0.1
0.5
109.2
93.9
72.1