As a result, 220 864 free options were cancelled. The price
procedure.
of an option was EUR 7.8.
In September 2010, the IBA Board of Directors issued
On August 27, 2010 the Board of Directors approved the
900 000 stock options to Group employees and partners
introduction of an IBA share buy-back program in order
as part of the 2010 share option plan, of which 550 000
to neutralize the dilutive effect of share option plans. No
options were free and 350 000 payable.
shares were repurchased by IBA in 2010.
On December 16 2010, it was noted that 329 136 free options and 130 503 payable options had been subscribed.
IBA S.A. statutory accounts and appropriation of net profit/(loss) Ion Beam Applications S.A. posted sales and services of
At the Shareholders General Meeting on May 11, 2011
EUR 152.5 million in 2010, an increase of 12% on 2009’s
the Board of Directors proposed a dividend of EUR 0.15
total of EUR 136.6 million. This increase was primarily due
(15 Euro cents) for 2010.
to progress on current orders. At the end of 2010, the Company owned two subsidiaries: The operating income, which had posted a loss of
in Prague, Czech Republic, and Orsay, France. These
EUR 6.8 million in 2009, recorded a profit of EUR 2.0 million
subsidiaries were formed to carry out activities in
in 2010.
connection with proton therapy.
The Company showed a net profit of EUR 15.2 million in 2010 after recording a net loss of EUR 10.9 million in 2009.
Corporate structure and governance This topic is covered fully in the « Corporate Governance,
planning to fully comply with the code as soon as it has
Management and Control » section of this annual report.
found the proper candidates.
The company has adopted the 2009 Belgian Code of
The Board meeting of March 3, 2010 which was to rule on
Corporate governance as its reference code and believes it
the change of Chairman of the Board of Directors gave rise
is in compliance with it at one exception: the composition of
to the application of the procedure stipulated in article 523
the Audit Committee.
of the Belgian Code of Company Law for cases of director
In consideration of the complementary and depth of
conflict of interest. This conflict of interest concerned
skills of the current members, the Company currently
Mr. Peter Vermeeren who had accepted a mission to work
has only one independent member out of three instead
with Mr. Renaud Dehareng in order to prepare the new
of the majority suggested by the code. The Company is
President of the division for his new responsibilities. This
IBA annuAl Report 2010 // 27
Management report
pre-emptive rights as part of the authorized capital