NEOPOST - 2018 Registration document

6

Financial statements

Consolidated financial statements

Outstanding shares 31/01/2018

Outstanding shares 31/01/2019

End of lock-up period date

Number of shares granted

Of which subject to conditions (a)

Shares granted

Shares delivered

Shares cancelled

Start date

25/03/2013

146,900 146,900

11,100

-

-

(11,100)

-

18/01/2018

24/03/2014

150,060 150,060

17,000

-

-

(11,250)

5,750 26/03/2019

01/07/2015

199,500 199,500

93,000

-

(2,412)

(73,372)

17,216 03/07/2020

01/07/2016

149,000 149,000 146,500

-

-

(24,000)

122,500

n/a

27/03/2017

246,700 246,700 246,000

-

-

(22,000)

224,000

n/a

28/06/2018 n/a Shares granted with performance conditions. Shares granted with performance conditions have a lock-up period of two years, versus three (a) years for other shares. The date of the end of the lock-up period is the later date. 226,600 226,600 - 226,600 - - 226,600

Changes in share-based payments valuation 9-4-4: Expenses recorded with respect to the profit-sharing, incentive plans and share-based payments are as follows:

31 January 2019

31 January 2018

31 January 2017

31 January 2016

31 January 2015

Free share granted valuation

0.7

(0.6)

0.4

1.9

3.3

9-5:

Long term incentives (phantom shares)

As regards to the ongoing plans, the liability is recognized when the phantom shares are attributed and the expense, spread out over the acquisition period (four years for 2015 and 2016 plans and three years for 2017 plan), represents the valuation of the number of phantom shares attributed

at the last share price before the end of financial year. At each closing date, the provision is revaluated based on the

last share price and the headcount variation.

No new phantom shares plans were set up since 1 February 2018.

Number of shares originally granted

Number of outstanding shares

Short term portion

31 January

31 January 2019

Long term portion

2018 Added

Used Non-used

January 2015 plan 67,000

-

0.5

0.2

(0.7)

(0.0)

-

-

-

July 2016 plan

147,600 128 350

0.8

0.4

-

(0.1)

1.1

0.6

0.5

March 2017 plan

98,020

74 420

0.2

0.3

-

(0.0)

0.5

-

0.5

Long term incentives

1.5

0.9 (0.7)

(0.1)

1.6

0.6

1.0

The January 2015 plan, for which the second vesting was paid in January 2019, was contingent upon the employee being on the Company’s payroll. The July 2016 and March 2017 plans are subject to the cumulative conditions of employee presence and Group performance.

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REGISTRATION DOCUMENT 2018 / NEOPOST