10. Capital issued and reserves attributable to owners of the parent

Details are as follows:

€ million 30/09/2012 31/12/2011 Change
Share capital
246.2 246.2 0.0
Reserves 7,050.9 6,396.2 654.7
Treasury shares
(239.0) (239.0) 0.0
Total 7,058.1 6,403.4 654.7

Details of changes during the period are as follows:

€ million  
Balance at December 31, 2011 6,403.4
Fair value adjustments of investments and other financial assets:  
 - SGS S.A. (note 8) 372.7
 - The Black Ant value Fund  (note 9) 14.1
 - Perella Weinberg Funds (note 9) 5.6
 - Other investments and other financial assets (7.0)
Measurement of EXOR S.p.A.'s derivative financial instruments (11.9)
Attributable exchange differences on translating foreign operations (-€11.3 million) and other net changes recorded in equity, shown by the investments consolidated and accounted for using the equity method (+€86.2 million)  74.9
Dividends paid by EXOR S.p.A. (80.1)
Consolidated profit attributable to owners of the parent 286.4
Net change during the period 654.7
Balance at September 30, 2012 7,058.1

Treasury shares
At September 30, 2012, EXOR S.p.A. has the following treasury shares, unchanged compared to December 31, 2011:

   
Carrying amount
Class of shares
Number of shares
% of class
Per share (€) Total (€ ml)
Ordinary
6,729,000 4.20 14.03 94.4
Preferred 11,690,684 15.22 11.70 136.8
Savings
665,705 7.26 11.69 7.8
        239.0

EXOR S.p.A. stock option plans
Changes in EXOR’s stock option plans in the first nine months of 2012 are commented in the following paragraphs.
Under the EXOR 2008-2019 Stock Option Plan, a total of 848,000 options were granted to a new recipient corresponding to 224,720 EXOR ordinary shares and 300,000 options expired for two recipients corresponding to 79,500 EXOR ordinary shares. At September 30, 2012, 7,473,000 options are outstanding corresponding to 1,980,345 EXOR ordinary shares. The cost referring to the period is €1.5 million (of which €0.9 million is classified as compensation to the chairman and chief executive officer and €0.6 million as personnel costs).

On May 29, 2012, the EXOR shareholders’ meeting approved the new long-term incentive plan: the Long-term Stock Grant and the Company Performance Stock Option.
Under the Long-term Stock Grant, 347,456 options were granted to thirty-one recipients. The cost referring to the period, recorded in personnel costs, is €0.1 million
Under the second component denominated “Company Performance Stock Option”, 750,000 options were granted to the chairman and chief executive officer and another 1,760,732 options to ten recipients. The cost referring to the period is €0.5 million (of which €0.2 million is classified as compensation to the chairman and chief executive officer and €0.3 million as personnel costs).

Commercial Register No.64236277 Legal notes | Credits