Warrants
The current (on 23 February 2012) outstanding stock option plan can be summarized as follows:
In the middle of 2007, Recticel issued a convertible bond for a total amount of EUR 57.5 million and with a duration of 10 years. This bond loan can be converted by the holders into ordinary Recticel- shares at a current (01 June 2011) conversion price of EUR 13.14. As a result of this, a theoretical total of 4 375 951 new shares could be created. The following table provides a summary of the potential total dilution effect.
