HSBC 2002 Annual Report Download - page 252

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
250
Number
of US$0.50
Shares US$m
Issued:
At 1 January 2000.................................................................................................. 8,458,101,5694,230
Shares issued to QUEST........................................................................................ 33,749,569 16
Shares issued under other option schemes ............................................................. 22,307,960 11
Shares issued in lieu of dividends.......................................................................... 75,867,497 38
Shares issued on acquisition of CCF...................................................................... 678,173,769 339
At 31 December 2000 ............................................................................................ 9,268,200,364 4,634
The 301,500 non-voting deferred shares were in issue throughout 2000, 2001 and 2002 and are held by a subsidiary
undertaking of HSBC Holdings.
Options outstanding to subscribe for HSBC Holdings’ ordinary shares under the HSBC Holdings Group Share
Option Plan, HSBC Holdings Executive Share Option Scheme, and HSBC Holdings Savings-Related Share Option
Plans are as follows:
Number of shares
US$0.50 Period of exercise Exercise price
31 December 2002 .................................... 307,522,913 2003 to 2012 £2.1727 to £9.642
31 December 2001 ..................................... 284,267,280 2002 to 2011 £2.1727 to £9.642
31 December 2000 ..................................... 231,746,943 2001 to 2010 £1.806 to £9.642
Following the acquisition of CCF in 2000, outstanding options over CCF shares granted (at nil consideration) to
employees between 1993 and 2000 have vested. On exercise of the options, the CCF shares are exchangeable for
HSBC Holdings ordinary shares of US$0.50 each in the same ratio as for the acquisition of CCF (13 HSBC
Holdings shares for each CCF share). During 2002, 229,066 (2001:76,799; 2000: 12,400) CCF shares were issued in
connection with the exercise of employee share options and exchanged for 2,977,858 ordinary shares of US$0.50
each (2001: 998,387; 2000: 161,200). During 2002, 5,000 CCF shares previously issued in connection with the
exercise of employee share options were exchanged for 65,000 ordinary shares of US$0.50 each. At 31 December
2002 5,500 CCF shares were in issue and will be exchanged for ordinary shares of US$0.50 each on the fifth
anniversary of the award of the options. There are 2,848,760 CCF employee share options exchangeable for HSBC
Holdings ordinary shares of US$0.50 each outstanding at 31 December 2002 (2001: 3,077,826; 2000: 3,200,625). At
31 December 2002 HSBC Holdings General Employee Benefit Trust held 35,745,555 (2001: 38,788,413; 2000:
39,838,800) ordinary shares of US$0.50 each which may be exchanged for CCF shares arising from the exercise of
options (see note 26(a)).
CCF options, effectively outstanding on HSBC shares under this arrangement, and the exercise period and price are
as follows:
Number of CCF shares
exchangeable for
HSBC Holdings
ordinary shares Period of exercise
E
xercise price
31 December 2002 ............................... 2,854,260 2003 to 2010 €32.78 – €142.5
31 December 2001 ................................ 3,088,326 2002 to 2010 €32.78 – €142.5
31 December 2000 ................................ 3,204,625 2001 to 2010 €32.78 – €142.5