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166
MEDIASET ESPAÑA COMUNICACIÓN, S.A. AND SUBSIDIARIES
Variable
Value
Weighted average share price
6.22
Excercise price
5.83 euros
ExpectedVolatility
37%
Option life
27/7/2014-26/7/2016
Expected dividens
5,5%
Risk-Free interest rate
1.93% (Rentability German Bond)
A share option plan for cer tain employees was approved in 2010.The weighted average fair value of these options at
the measurement date was EUR 2.41 per share, calculated using a binomial valuation model with the following variables.
Variable
Value
Weighted average share price
8.08
Excercise price
7 euros
ExpectedVolatility
50%
Option life
28/7/2013-27/7/2015
Expected dividens
5,5%
Risk-Free interest rate
1.93% (Rentability German Bond)
The two capital increases give rise to an incremental fair value for the options. In accordance with IFRS 2, as the
modification took place during the vesting period of the share options, the incremental fair value granted is included in
the measurement of the amount recognised for services received over the period from the modification date until the
date when the modified equity instruments vest, in addition to the amount based on the grant date fair value of the
original equity instruments, which is recognised over the remainder of the original vesting period.The impact of this is
not significant.
The services received from employees in exchange for the share options granted are charged to the separate income
statement at fair value calculated on the date granted. An expense of EUR 1,358 thousand was recognised for share
options in 2011 (2010: EUR 1.290 thousand) (Note 23.2). These share-based payment schemes in 2011 are shown in
the following table (in any case, the granting conditions approved by the Board of Directors have been met):
No, of options Strike Price Assignment date
From
To
Options granted
1,153,650
19,74
2007
25/07/2010 24/07/2012
Options cancelled
(111,000)
19,74
2007
Plans outstanding at 31
December 2007
1,042,650
Options granted
590,325
7,13
2008
30/07/2011 29/07/2013
Options cancelled
(18,000)
19,74
2007
Plans outstanding at 31
December 2008
1,614,975
Options granted
319,163
5,21
2009
29/07/2012 28/07/2014