INDICE ANEJO 2 ESTUDIO DE ALTERNATIVAS
3. IDENTIFICACIÓN DE ALTERNATIVAS.
4.3 Ingeniería 1 Estructura.
At the end of the 2013 financial year the number of shares outstanding was 522,741,620. The share capital was EUR 65.3 million and the total number of votes was 120,862,003. Each class A share is assigned one vote, as is each block of
Changes in share capital Class A Class B Total
Number of shares as of Jan 1, 2013 38,104,356 222,431,764 260,536,120
Share subscription with 2010 options, May 7, 2013 130,600 130,600
Share subscription with 2010 options, Aug 9, 2013 506,371 506,371
Share subscription with 2010 options, Nov 6, 2013 59,338 59,338
Share issue without payment, Dec 5, 2013 38,104,356 223,128,073 261,232,429
Share subscription with 2010 options, Dec 31, 2013 276,762 276,762
Number of shares, Dec 31, 2013 76,208,712 446,532,908 522,741,620
Number of votes, Dec 31, 2013 76,208,712 44,653,291 120,862,003
Share capital, Dec 31, 2013, MEUR 9.5 55.8 65.3
Changes in share capital Class A Class B Total
Number of shares as of Jan 1, 2012 38,104,356 222,431,764 260,536,120
Number of shares, Dec 31, 2012 38,104,356 222,431,764 260,536,120
Number of votes, Dec 31, 2012 38,104,356 22,243,176 60,347,532
Share capital, Dec 31, 2012, MEUR 9.5 55.6 65.1
10 class B shares, with the provision that each shareholder is entitled to at least one vote. At the end of the financial year, the Board of Directors of the company had a valid authorization granted by the Annual General Meeting in March 2010 to increase the share capital and to issue stock options. The authorization shall remain in effect until March 1, 2015.
In accordance with the Articles of Association, class B shares are preferred for a dividend, which is at least 1 percent and no more than 2.5 percent higher than the dividend paid to the holders of class A shares, calculated based on the amount obtained by dividing the share capital entered into the Trade Register by the number of shares entered into the Trade Register.
Options
KONE Corporation had three stock option programs during the financial period 2013. The purpose of the stock options is to encourage long-term efforts by key personnel to increase shareholder value and their commitment to the company by offering them an internationally competitive incentive program. The company’s Board Members, President & CEO and members of the Executive Board are not included in the stock option plan 2010. The company´s Board Mem- bers, President & CEO, members of the Executive Board and other key personnel covered by KONE’s share-based incentive programs other than option programs are not included in the option plans 2013 and 2014.
Stock options 2010 were granted according to the decision of the Board of Directors on July 20, 2010 to approxi- mately 430 key employees. The decision was based on the authorization received from the Shareholders Meeting on March 1, 2010. The total number of stock options was 3,000,000 and 896,000 of them are held by KONE Corporation’s subsidiary. The original share subscription price for the option was 17.50 euros per share and it is further reduced in situa- tions mentioned in the terms, for example with dividends distributed before the subscription of the shares. The effec- tive subscription price as per December 3, 2013 was EUR 14.075. Each option entitles its holder to subscribe for two (2) new class B shares. The share subscrip- tion period for the stock option 2010 is
Options
Options granted to
employees Unexcercised options
Options held by the subsidiary Dec 31, 2013
Number of class B shares that can be subscribed for with the options Share subscription price, EUR Share subscription period 2010 2,104,000 1,269,310 896,000 2 14.075 1 April, 2013–30 April, 2015 2013 720,000 720,000 30,000 2 27.60 1 April, 2015–30 April, 2017 2014 0 0 1,500,000 1 31.80 1 April, 2016–30 April, 2018 Total 2,824,000 1,989,310 2,426,000
Changes in the number of options outstanding Jan 1–Dec 31, 2013 Jan 1–Dec 31, 2012
Number of options outstanding at Jan 1 2,188,000 2,974,828
Granted options 724,000 41,000
Returned options 88,000 105,020
Exercised options 834,690 722,808
Number of options outstanding at Dec 31 1,989,310 2,188,000
Exercisable options at Dec 31 1,269,310 0
April 1, 2013–April 30, 2015. The share subscription period began on April 1, 2013 and the 2010 option stock options were listed on the NASDAQ OMX Helsinki stock exchange on April 2, 2013, as the financial performance of the KONE Group for the financial years 2010–2012 based on the total consideration of the Board of Directors was equal to or better than the average performance of key competitors of KONE. The amount of KONE class B shares subscribed with the 2010 option rights during 2013 was 1,669,380 and at the end of December 2013 a maximum of 2,538,620 shares could be subscribed with the remaining outstanding option rights. The subscription price paid totaled EUR 24,4 million during year 2013.
Stock options 2013 are granted according to the decision of the Board of Directors on January 24, 2013 to approximately 480 key employees. The decision was based on the authorization received from the shareholders’ meeting on March 1, 2010. A maximum total of 750,000 options are granted. Each stock option entitles its holder to subscribe for two (2) new or existing company’s own class B KONE shares. The share subscrip- tion period for the stock options 2013 will be April 1, 2015–April 30, 2017. The share subscription period begins only if the financial performance of the KONE Group for the financial years 2013–2014, based on the total consideration of the Board of Directors, is equal to or better than the average performance of the key competitors of KONE. If the above-
mentioned prerequisite does not fulfill, the stock options expire based on the consideration and in the extent and man- ner decided by the Board of Directors and the terms of the stock options. The origi- nal share subscription price for the stock option was EUR 29.125 per share and it is further reduced in situations mentioned in the terms, for example with dividends distributed before the subscription of the shares. The effective subscription price since December 3, 2013 is EUR 27.60.
Stock options 2014 are granted according to the decision of the Board of Directors on December 20, 2013 to approximately 530 key employees and the decision was based on the authori- zation received from the Shareholders Meeting on March 1, 2010. A maximum total of 1,500,000 options are granted. The share subscription price for the option is EUR 31.80 per share and it is further reduced in situations mentioned in the terms, for example with dividends distributed before the subscription of the shares. Each option entitles its holder to subscribe for one (1) new or existing company’s own class B KONE share. The share subscription period for the stock options 2014 will be April 1, 2016–April 30, 2018. The share subscription period begins only if the financial performance of the KONE Group for the financial years 2014–2015, based on the total consider- ation of the Board of Directors, is equal to or better than the average performance of the key competitors of KONE.