Press Releases
Press release on Stock Options plans
This is to inform that Bulgari S.p.A. will allot options for the subscription of ordinary shares of the Company, in performance of the stock option plans in favour of key directors of the Company and of the Group, already approved at the Shareholders' Meetings held on April 10, 1996 and on April 29 2003, and the stock option plan in favour of the Chief Executive Officer Francesco Trapani already approved at the Shareholders' Meeting held on April 28 2005, as incentive and loyalty instruments.
The implementation of those plans is delegated to the Board of Directors of the Company and in particular to its Chairman and/or its Managing Director, jointly or severally, and it is not subject to satisfaction of conditions or achievement of specific results.
The plans do not enjoy support from the special fund for encouraging worker participation in firms, referred to in article 4 (112) of Italian Law No. 350 dated 24 December 2003.
The price at which the shares will be issued, inclusive of share premium and nominal value, shall be determined by the Board of Directors of the Company and in particular by its Chairman and/or by its Managing Director, jointly or severally, in an amount equal to the average of the official price of the Bulgari share for the month preceding the date of allotment of the options, found in the Telematic Market of Borsa Italiana S.p.A.
The shares thus issued upon exercise of the options will have earnings commencing from the beginning of the then current financial year. If, taking into consideration their earnings, the shares thus issued do not contain rights identical to those of the shares traded upon issuance in the Telematic Market of Borsa Italiana S.p.A., the issued shares may not be sold on such market until the date in which there are no longer such differences, since the Company is not bound to request Borsa Italiana S.p.A. for separate trading in this regard.
The stock options may not be transferred to any person or entity or pledged or subject to any act of disposition creating third party rights, other than by inheritance. The trust administration of the shares is entrusted to a trust company. The issued shares are immediately available provided that: (i) in the event the beneficiary does not intend to immediately sell the shares, their endorsement in his/her name cannot take place until 30 days after the date of their issuance, (ii) the trust company is instructed not to proceed with the sale of the shares upon request of the beneficiary, in the event the number of shares inclusive of those for which it already received instructions to sell by other beneficiaries, for the same date of trade, exceeds 33% of the average number of shares traded on a continuous basis in the Telematic Market in the 30 working days preceding the date of trade.