There have been no material transactions involving ordinary
shares or potential ordinary shares between the reporting date and
the date of this financial information.
6. INTANGIBLE ASSETS
Customer Intellectual
Relationships Property Goodwill Total
GBP'000 GBP'000 GBP'000 GBP'000
Cost:
At 1 January 2011 11,118 50,495 142,377 203,990
Acquisition of subsidiaries 22 816 1,968 2,806
Currency adjustment (52) (419) (850) (1,321)
--------------- ------------- --------- ---------
At 1 January 2012 11,088 50,892 143,495 205,475
Acquisition of subsidiaries 8,912 10,782 72,348 92,042
Currency adjustment (406) (1,516) (3,805) (5,727)
--------------- ------------- --------- ---------
At 31 December 2012 19,594 60,158 212,038 291,790
=============== ============= ========= =========
Amortisation:
At 1 January 2011 (5,688) (26,794) (12,203) (44,685)
Provided during the year (1,789) (4,114) - (5,903)
Currency adjustment 33 224 - 257
---------------
At 1 January 2012 (7,444) (30,684) (12,203) (50,331)
Provided during the year (2,698) (5,422) - (8,120)
Currency adjustment 285 880 - 1,165
--------------- ------------- --------- ---------
At 31 December 2012 (9,857) (35,226) (12,203) (57,286)
=============== ============= ========= =========
Net book value:
At 31 December 2012 9,737 24,932 199,835 234,504
===============
At 1 January 2012 3,644 20,208 131,292 155,144
=============== ============= ========= =========
Customer relationships and intellectual property are written off
on a straight-line basis over their estimated useful lives of
between 5 and 15 years. As from 1 January 2004, the date of
transition to IFRS, goodwill is no longer amortised but is now
subject to annual impairment testing.
7. SHARE-BASED PAYMENT PLANS
SDL Share Option Scheme
The table below sets out the number and weighted average
exercise prices (WAEP) of, and movements in, the SDL Share Options
Scheme during the year:
2012 2012 2011 2011
No. WAEP No. WAEP
Outstanding at the beginning
of the year 1,156,157 GBP3.15 1,375,987 GBP2.37
Granted during the year 166,545 GBP7.48 189,574 GBP6.70
Forfeited during the year (103,459) GBP5.45 (71,809) GBP3.88
Exercised during the year (193,506) GBP1.99 (324,595) GBP1.86
Expired during the year - - (13,000) GBP0.83
---------- ----------
Outstanding at the end of
the year 1,025,737 GBP3.84 1,156,157 GBP3.15
========== ==========
Exercisable at 31 December 578,993 GBP1.95 616,903 GBP1.72
The weighted average share price at the date of exercise for the
options exercised is GBP6.63 (2011: GBP6.33).
For the share options outstanding as at 31 December 2012, the
weighted average remaining contractual life is 5.64 years (2011:
5.95 years).
The fair value of equity settled share options granted under the
SDL Share Option Scheme is estimated as at the date of grant using
the Black Scholes model. The following table lists the inputs and
key output to the model:
2012 2011
Weighted average share price (pence) 748 670
Weighted average fair value at grant date
(pence) 144 199
Expected volatility 30% 43%
Expected option life 4 years 4 years
Expected dividends 1% 1%
Risk-free interest rate 0.5% 1.5%
The range of exercise prices for options outstanding at the end
of the year was GBP1.17 - GBP7.48 (2011: GBP0.34 - GBP6.07).
Date of Grant Exercise Period 2012 2011
Number Number
------------ ------------------- ---------------------- ---------- ----------
GBP0.01 10 years after grant
- GBP0.50 23/02/03 date - 46,000
------------ ------------------- ---------------------- ---------- ----------
GBP1.01 10 years after grant
- GBP1.50 02/04/04-04/04/05 date 305,118 344,334
------------ ------------------- ---------------------- ---------- ----------
GBP2.01 10 years after grant
- GBP2.50 22/03/06-03/10/06 date 23,700 24,950
------------ ------------------- ---------------------- ---------- ----------
GBP2.51 10 years after grant
- GBP3.00 28/02/08-02/03/09 date 244,975 359,191
------------ ------------------- ---------------------- ---------- ----------
GBP3.51 10 years after grant
- GBP4.00 23/5/07 date 5,200 11,500
------------ ------------------- ---------------------- ---------- ----------
GBP4.51 10 years after grant
- GBP5.00 12/04/10 date 119,115 153,490
------------ ------------------- ---------------------- ---------- ----------
GBP5.01 10 years after grant
- GBP5.50 10/09/10 date 29,070 36,462
------------ ------------------- ---------------------- ---------- ----------
GBP6.51 10 years after grant
- GBP7.00 18/05/11 date 151,296 180,230
------------ ------------------- ---------------------- ---------- ----------
GBP7.01 10/04/12 10 years after grant 147,263 -
- GBP7.50 date
------------ ------------------- ---------------------- ---------- ----------
Total 1,025,737 1,156,157
--------------------------------------------------------- ---------- ----------
SDL Long Term Incentive Plan
The fair value of equity-settled shares granted under the SDL
Long Term Incentive Plan is estimated as at the date of grant using
a Monte-Carlo model, taking into account the terms and conditions
upon which the options were granted. The following table lists the
inputs and key output to the model in the year of grant:
2012 2011
Expected volatility 30% 43%
Weighted average fair value at grant date
(pence) 467 426
Expected life 3 years 3 years
Expected dividends 1% 1%
Risk-free interest rate 0.5% 1.5%
2012 2012 2011 2011
No. WAEP No. WAEP
Outstanding at the beginning
of the year 2,304,736 GBP0.01 2,576,916 GBP0.01
Granted during the year 667,356 GBP0.01 632,244 GBP0.01
Exercised during the year (711,918) GBP0.01 (761,617) GBP0.01
Forfeited during the year (550,066) GBP0.01 (142,807) GBP0.01
----------
Outstanding at the end of the
year 1,710,108 GBP0.01 2,304,736 GBP0.01
========== ==========
Exercisable at 31 December Nil - Nil -
All LTIPs are exercisable at nil cost to the individual (with
the exception of the 1p nominal value of each share awarded).
SDL Save As You Earn Scheme (SAYE)
The table below sets out the number and movements in, the SDL
Save As You Earn Scheme during the year:
2012 2011
No. No.
Outstanding at the beginning of the year 149,567 163,650
Granted during the year 214,131 109,457
Exercised during the year (31,861) (118,030)
Forfeited during the year (35,430) (5,510)
----------
Outstanding at the end of the year 296,407 149,567
========= ==========
Exercisable at 31 December Nil Nil
For the SAYE shares outstanding as at 31 December 2012, the
weighted average remaining contractual life is 1.86 years (2011:
1.93 years).
Sdl (LSE:SDL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Sdl (LSE:SDL)
Historical Stock Chart
From Jul 2023 to Jul 2024
