Page 162 - MEDIASET ESPAÑA / 2012. Financial Statements, Management and Corporate Governance Report

162
MEDIASET ESPAÑA COMUNICACIÓN, S.A. AND SUBSIDIARIES
The most relevant assumptions used in the measurement are as follows:
2007 Plan 2008 Plan 2009 Plan 2010 Plan 2011 Plan
Strike 19.74 7.13 5.21 7.00 5.83
Yield on the share (dividend yield) 6% 10% 5% 5.5% 5.5%
Volatility 22.5% 27.5% 30% 50% 37%
A share option plan for certain employees was approved in 2011.The weighted average fair value of these options at the
measurement date was 1.21 euros per share, calculated using a binomial valuation model with the following variables:
Variable Value
Weighted average share price 6.22
Excercise price 5,83 euros
Expected volatility 37%
Option life 7/27/2014-7/26/2016
Expected dividends 5.5%
Risk-free interest rate 1.93% (Rentability German Bond)
There were no new share option plans in 2012.
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 recognized 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 recognized 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 1,222 thousand euros was recognized for share
options in 2012 (2011: 1,358 thousand euros) (Note 23.2).
These share-based payment schemes in 2012 are shown in the following table (in any case, the granting conditions
approved by the Board of Directors have been met):
,