ETASSUM45240 - Schedule 4 Company Share Option Plan (CSOP): Exchange of share options: Acquisition price of new options

The requirement of paragraph 27(4)(d) is that the aggregate acquisition price payable by a participant under the new option must be equal to the aggregate acquisition price under his/her old option. As the number of shares under the new option has been fixed under paragraph 27(4)(c), this enables the acquisition price per share under the new option to be determined.

If the options have been granted in one currency, but as a result of a takeover, will be exercised in another, the conversion to the new exercise price should be made at the exchange rate effective at the date the options are exchanged.