PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2007 and 2006 Expressed in millions of Rupiah, unless otherwise stated
94
31. SHAREHOLDERS’ EQUITY continued a. Authorized, Issued and Fully Paid-up Capital continued
On July 14, 2003, the date of the IPO, through MSOP - Stage 1 Management Stock Option Plan - Stage 1, the Bank issued 378,583,785 share options for the management with an exercise price of
Rp742.5 full amount per share and a nominal value of Rp500 full amount per share. The share options are recorded in the Equity account - Share Options with fair value amounting to Rp69,71 full
amount per share options. Up to December 31, 2007, MSOP - Stage 1 options exercised totaled 370,530,174 shares, thereby increasing the total issued and fully paid-up capital by Rp183,629 and
agio by Rp114,662, including MSOP - Stage 1 exercised for the year ended December 31, 2007 amounting to 43,512,471 shares thereby increasing the total issued and fully paid - up capital by
Rp20,120 and agio by Rp12,564 and Funds for Paid - up Capital amounting to Rp2,657. As of December 31, 2007, shares option value still recorded as equity-share option from MSOP - Stage 1
amounting to Rp561. The General Shareholders’ Meeting on May 16, 2005 approved MSOP - Stage 2 amounting to
312,000,000 share options. The exercise price and nominal value for each share is Rp1,190.50 full amount for exercise in the first year and Rp2,493 full amount for exercise in the second year and
the following year. The nominal value per share is Rp500 full amount. The Bank recorded MSOP - Stage 2 in the Equity account - Share Options with fair value amounting to Rp642.28 full amount per
share options. Up to December 31, 2007 MSOP - Stage 2 option exercised totaled 304,886,942 shares thereby increasing the total Issued and Fully Paid - up Capital by Rp152,271 and agio by
Rp406,335, including MSOP - Stage 2 exercised for the year ended December 31, 2007 amounting to 687,178 shares thereby increasing the Total Issued and Fully Paid - up Capital by Rp172 and Agio by
Rp904, respectively, and Funds for Paid - up Capital amounting to Rp1,079. As of December 31, 2007, share option value still recorded as equity-share option from MSOP - Stage 2 amounting to
Rp4,569. The General Shareholders’ Meeting on May 22, 2006 approved MSOP - Stage 3 amounting to
309,416,215 share options or 1.55 from total issued and fully paid - up capital at the date of the IPO to purchase new shares B series to be issued. The General Shareholders’ Meeting also give authority
to the commissioners to determine the execution and monitoring policy of MSOP - Stage 3 including the options implementation and report it in the future general shareholders’ meeting.
The MSOP - Stage 3 exercise price for each share is Rp1,495.08 full amount. The Bank recorded MSOP - Stage 3 in the equity account - Share Options at fair value amounting to Rp593.89 full
amount per share options. As of December 31, 2007 MSOP - Stage 3 option exercised totaled 137,348,058 shares thereby increasing the total issued and fully paid - up capital by Rp38,875 and
agio by Rp123,543 and funds for paid - up capital amounting to Rp123,857. As of December 31, 2007, share option value still recorded as Equity-Share Options from MSOP - Stage 3 amounted to
Rp102,190. Funds for paid - up capital from MSOP-Stage 1, MSOP-Stage 2 and MSOP-Stage 3 exercised during
2007 amounting to Rp2,657, Rp1,079 and Rp123,857, respectively, represent stock option exercised during October 1 - December 31, 2007 not yet recognized as increase of total issued and fully paid-
up capital amounting to Rp31,607 and agio amounting to Rp95,986 because these are not yet supported by amended deed of Articles of Association.
Share options exercised from MSOP - Stage 1, MSOP - Stage 2, MSOP - Stage 3 for the year ended December 31, 2007 were 43,512,471 shares, 687,178 shares and 137,348,058 shares, respectively,
thereby increasing the total issued and fully paid - up capital by Rp59,167 Notes 1a and 32.
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2007 and 2006 Expressed in millions of Rupiah, unless otherwise stated
95
31. SHAREHOLDERS’ EQUITY continued a. Authorized, Issued and Fully Paid-up Capital continued
