LISI 2012 FINANCIAL REPORT
87
4
COMPANY FINANCIAL STATEMENTS
3.5.2 Subsidiaries and holdings (company data in €)
Companies
Share capital
Shareholders'
equity
and
minority
interests
Share
of capital
held
(in %)
Gross value
of the
securities
held
Provisions
on the
securities
held
Net value
of the
securities
held
Loans, advances
granted
by the company
not yet
repaid
Loans,
advances
received
by the
company
not yet
repaid
Amount of
guarantees
and
sureties given
by the
company
Sales revenue
excl. tax
for the last
financial year
Net Income
or net loss
for the last
financial year
Dividends
cashed by the
parent
company
during the last
financial year
Subsidiaries:
LISI AUTOMOTIVE 31,690,000 106,863,032 100,00% 93,636,481
93,636,481 34,115,317
26,919,458 (2,548,890)
2,002,808
LISI AEROSPACE
2,475,200 50,332,055 100,00% 30,863,816
30,863,816 6,685,934
216,808,115 9,929,029 11,000,000
LISI MEDICAL
33,337,000 29,771,035 100,00% 33,337,000
33,337,000 27,521,103
1,570,867 (450,821)
3.6 Identity of the consolidating
company
Compagnie Industrielle de Delle (CID)
Limited company with share capital of €3,189,900
Head Office: 28 Faubourg de Belfort – BP 19 – 90101 DELLE
Cedex
Compagnie Industrielle de Delle held 54.96% of the capital of
LISI S.A. as at December 31, 2012.
3.7 Allocation of performance shares
Acting on the recommendation of the Compensation
Committee, LISI's Board of Directors decided, on July 28, 2010,
to allocate performance shares to members of the Executive
Committee and to members of the principle Management
Committees for the three LISI Group divisions, subject to their
meeting certain performance targets: the achievement of
these two criteria at the end of 2011, namely EBIT and sales
revenue, resulted in the completion of 85% of that plan in 2012.
The final cost was allocated to the divisions.
Acting on the recommendation of the Compensation
Committee, LISI's Board of Directors decided, on June 26, 2011,
to allocate performance shares to members of the Executive
Committee and to members of the main Management
Committees for the three LISI Group divisions, subject to their
meeting certain performance targets. The same went in 2012,
insofar as the Board of Directors of October 24, 2012 renewed
the opening of a new plan under similar conditions.
The fair value of the benefits granted is recognized as a
provision in 2012 for an amount of €0.5m for the employees of
the French companies. This cost was not allocated to divisions,
and remains an expense at the LISI S.A. level until the definitive
realization of the plan. The impact of the expense relating
to the awards of free performance shares is included in the
payroll expenses. for employees of LISI S.A. only.
Plans that impacted LISI S.A.'s accounts in 2012:
Plan for 2010 Plan for 2011 Plan for 2012
Total
Allocation date
07/28/10
07/28/11 10/24/12
Acquisition date
10/24/12 February-14 February-15
Value in €'000 as at 12/31/2012
1,761
279
71
Impact in €'000 on the company's financial statements at
12/31/2012 (not including social security contributions)
175
279
71
524
Number of shares awarded
47,185
44,200
52,650
