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.(c) Share options and share purchase arrangementsThe Company has adopted a number of share option plans, which allow current or future employees orexecutive directors to purchase shares in the Company up to an aggregate of approximately 5% (whenaggregated with other ordinary shares over which options are granted and which have not yet been exercised) ofthe outstanding ordinary shares of Ryanair Holdings plc, subject to certain conditions.All grants are subject toapproval by the Remuneration Committee.These are exercisable at a price equal to the market price of theordinary shares at the time options are granted.The key terms of these option plans include the requirement thatcertain employees remain in employment with the Company for a specified period of time.See note 25 to theconsolidated financial statements for more details.Details of the share options outstanding are set out below:WeightedShare OptionsAverageM Exercise Price41.7 ¬ 2.94Outstanding at March 31, 2009.Exercised.(5.6) ¬ 2.60Expired.(0.2) ¬ 2.83(0.1) ¬ 2.49Forfeited.35.8 ¬ 3.00Outstanding at March 31, 2010.Exercised.(10.6) ¬ 2.58Expired.(1.8) ¬ 4.13(0.0) ¬ 3.77Forfeited.23.4 ¬ 3.07Outstanding at March 31, 2011.Exercised.(2.5) ¬ 2.81Expired.(0.8) ¬ 3.40(2.1) ¬ 3.08Forfeited.18.0 ¬ 3.11Outstanding at March 31, 2012.The mid-market price of Ryanair Holdings plc s ordinary shares on the Irish Stock Exchange at March31, 2012 was ¬ 4.48 (2011: ¬ 3.36, 2010: ¬ 3.68).The highest and lowest prices at which the Company s sharestraded on the Irish Stock Exchange in the 2012 fiscal year were ¬ 4.48 and ¬ 2.82, respectively (2011: ¬ 4.20 and¬ 2.78, respectively; 2010: ¬ 3.77 and ¬ 2.74, respectively).There were 6.2 million options exercisable at March31, 2012 (2011: 12.9 million; 2010: 14.1 million).The average share price for the year was ¬ 3.58 (2011: ¬ 3.60,2010: ¬ 3.29).The weighted average share price (as of the dates of exercises) for all options exercised during the 2012fiscal year was ¬ 3.69 (2011: ¬ 3.72; 2010: ¬ 3.50).170At March 31, 2012 the range of exercise prices and weighted average remaining contractual life ofoutstanding and exercisable options was as follows:Options outstanding Options exercisableWeighted- Weighted-average Weighted- average Weighted-Number NumberRange of remaining average remaining averageoutstanding exercisableexercise contractual life exercise contractual life exerciseprice (¬ ) M (years) price (¬ ) M (years) price (¬ )18.0 3.1 3.11 6.2 0.4 3.242.56-4.96The Company has accounted for its share option grants to employees at fair value, in accordance withIFRS 2, using a binomial lattice model to value the option grants.The net credit to the income statement of ¬ 0.7million (2011: ¬ 3.3 million charge; 2010: ¬ 4.9 million charge) comprises a ¬ 2.5 million reversal of previouslyrecognised share-based compensation expense for awards that did not vest, offset by a charge of ¬ 1.8 million forthe fair value of various share options granted in prior periods, which are recognised within the incomestatement in accordance with employee services rendered.This was based on 8.4 million share options withinthe scope of IFRS 2 (2011: 22.6 million; 2010: 23.2 million) as compared to the total share options disclosedabove (as permitted by the transitional rules in IFRS 1).There were no share options granted during the years ended March 31, 2010, 2011 and 2012.16 Other equity reserveThe total share based payments reserve at March 31, 2012 was ¬ 21.6 million (2011: ¬ 25.3 million;2010: ¬ 26.5 million).The available-for-sale financial asset reserve at March 31, 2012 was ¬ 70.0 million (2011:¬ 34.3 million; 2010: ¬ 36.5 million).The total cash-flow hedge reserve amounted to ¬ 138.6 million at March 31,2012 (2011: ¬ 257.4 million; 2010: ¬ 60.3 million).Further details of the group s derivatives are set out in Notes5 and 11 to the consolidated financial statements [ Pobierz caÅ‚ość w formacie PDF ]