Econocom - 2019 Universal registration document

06 consolidated financial statements

notes to the consolidated financial statements

The fair values of the options were measured at the grant date using the Black-Scholes-Merton mathematical option pricing model. The table below shows the measurements along with the main assumptions used: General information Initial measurement assumptions (IFRS ژ 2)

Estimated future dividend in ژ %

Options outstanding Fair value Volatility Vesting period

Plan Year granted

RFIR (1)

250,000

1.21

24% 4 ژ years 28% 4 ژ years

2% 1.14% 2% 0.32% 2% 0.35% 2% 0.02% 2% 0.13%

2013 2013

1,599,620 0.73

2014

356,800 1.00 28% 4 ژ years

2014

2015

85,000 1.65

30% 4 ژ years

2016

90,000 1.08 29% 4 ژ years

2017 2017

RFIR: risk-free interest rate. (1)

Free share plan 15.3.1.2. In 2019, the Econocom Board of Directors did not award free shares. Vesting may be subject to the achievement of individual and/or collective objectives, that may be internal and/or external to the Econocom Group. As at 31 ژ December 2019, 790,000 free shares had not been exercised.

Options are measured at fair value at the grant date in accordance with IFRS ژ 2. Volatility is calculated by an actuary based on a four-year record of daily prices preceding the option grant date, in line with the maturity of the options. A detailed description of these stock option plans can be found in section 5.10 of the Management Report.

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2019 annual report