SOLOCAL_Registration Document_2017
6
FINANCIAL STATEMENTS 6.1 Consolidated financial statements for the years ended 31 December 2016 and 2017
13.3
MOVEMENTS IN STOCK AND FREE SHARE PLANS
New volume conversion (Capital-reduction of 2 February & increase of 10 and 13 March
Closing balance as at 31/12/2016
Closing balance as at 31/12/2017
2017) Cancelled/lapsed
Exercise price
Subscription share plans
219,570
562,719 112,386 14,701 103,776
(411,987) (40,873) (7,263) (31,996) (6,918) (324,937) (1,823,366)
150,731
-
July 2010
43,857
71,513
€127.20 €105.09 €99.39
December 2010
5,736
7,438
July 2009
40,497
71,780
December 2009 December 2007 Free share plans
2,700
6,918
- -
- -
126,780
324,937
1,373,193
3,612,875
1,789,509 Final vesting date
February 2015 February 2015 February 2015
16,665 16,665 36,665 296,370 296,370 710,458
43,848 43,847 96,466 779,749 779,749
- -
43,848 43,847
09/02/2017 09/02/2018 09/02/2019 19/06/2016 19/06/2017 19/06/2018
(146,719)
(50,253) 779,749 633,905 338,412
June 2014 June 2014 June 2014
-
(145,844) (1,530,803)
1,869,215
As at 31 December 2017, the options of all of the stock option plan can be exercised. These plans are expected to be settled through equity instruments.
13.4
EXPENSE RELATING TO STOCK OPTION PLANS AND FREE GRANTS OF SHARES
The impact on the 2017 income statement amounts to instruments. In comparison, the impact on the 2016 income +€3.3 million, relating to the social charges regularization of the statement was +€2.3 million. These amounts include the social employer contribution based on the fair value of the non-acquired charges relating to the employer’s contribution.
NOTE 14
DISPUTES AND OTHER CONTRACTUAL COMMITMENTS
project on changes in the model and the organisation of PagesJaunes was presented to the staff representation bodies concerned beginning in September 2013. In parallel, Management negotiated with the representative trade unions, a majority agreement concerning the social support measures. This agreement was signed on 20 November 2013. At the end of this work with the staff representatives, this plan called for reorganisation along with modifications in the employment contracts of the sales force, a project without direct lay-offs for which the net global balance, however, is the creation of 48 additional jobs within the Company. This agreement received validation via a ruling of the DIRECCTE on 2 January 2014. As 311 employees refused the amendment to their employment contract linked to this reorganisation implemented at the end of 2013, 280 of them were made redundant. One employee of the Company decided to dispute the validation of the collective agreement relating to the job safeguarding plan before the administrative courts. The Versailles Administrative Court of Appeal, in a judgement of 22 October 2014 notified on 5 November, cancelled the validation by the DIRECCTE. On 22 July 2015, the Conseil d’État rejected the recourse of PagesJaunes and of the Minister of Labour, on the same argument of pure form.
14.1
DISPUTES – SIGNIFICANT CHANGES FOR THE PERIOD
In the ordinary course of business, the Group entities may be involved in a number of legal, arbitration and administrative proceedings. Provisions are only constituted for expenses that may result from such proceedings where they are considered likely and their amount can be either quantified or estimated within a reasonable range. The amount of the provisions is based on an assessment of the risk on a case-by-case basis and largely depends on factors other than the particular stage of proceedings, although events occurring during the proceedings may call for a reassessment of this risk. With the exception of the proceedings described below, SoLocal Group’s entities are not party to any lawsuit or arbitration procedure which the Management believes could reasonably have a material adverse effect on its earnings, operations or consolidated financial position. During the year 2013, PagesJaunes had to be reorganised again in order to guarantee its sustainability faced with a constantly changing and highly competitive professional environment. A
178 2017 Registration Document SOLOCAL
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