2014 Registration Document and Annual Financial Report - page 226

Financial Statemements
Consolidated Financial Statements and Notes
5
NOTE 26
POTENTIAL ORDINARY SHARES
Following the demerger on July 2, 2010, the exercise price of
outstanding stock options and performance shares was adjusted
along with the number of shares to be received by grantees (see
Note 3.4.1 in the update to the 2009 Registration Document filed
with the
Autorité des Marchés Financiers
on May 18, 2010 under
number D.10-0201-A01). The figures presented in this note for
plans dating back prior to July 2010 are therefore adjusted figures.
Note 26.1 Number of potential shares
At December 31, 2014, the Company’s share capital was made up
of 231,836,399 ordinary shares. The average number of ordinary
shares outstanding during the period was 230,231,848.
The number
of outstanding shares at December 31, 2014 was 231,836,399.
In addition, employee stock options exercisable for 4,521,862
ordinary shares, representing 1.95%of the capital, were outstanding
at December 31, 2014 (see Note 26.3).
Lastly, 817 503 performance shares have been granted but have
not yet vested.
Conversion of all of the potential shares presented above would
have the effect of increasing the number of shares outstanding
to 237 175 764.
Note 26.2 Diluted earnings per share
Based on the above number of potential shares and the average Accor share price for the last 12 months of €36,02, the diluted weighted
average number of shares outstanding at December 31, 2014 was 231 815 702. Diluted earnings per share were therefore calculated as
follows:
(inmillions of euros)
2013 Adjusted
2014
NET PROFIT, GROUP SHARE
(continuing operations and discontinued operations)
126
223
Weighted average number of ordinary shares
(in thousands)
227,613
230,232
Number of shares resulting from the exercise of stock options
(in thousands)
549
1,209
Number of shares resulting from performance shares grants
(in thousands)
417
375
Fully diluted weighted average number of shares
(in thousands)
228,579
231,816
DILUTED EARNINGS PER SHARE
(in euros)
0.55
0.96
All of these instruments are included in the calculation of diluted earnings per share as all of the plans were dilutive in 2014 (see Note 26.3).
Registration Document 2014
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