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## dIRECTORS’ REPORT COnTInUEd 

## Remuneration Report (Audited) (continued) 

ESOP options expire between two and a half and four years after they are granted. The exercise price of ESOP options, issued during the financial year, was based on the volume weighted average price at which the Company’s ordinary shares traded on the ASX during the 180 days of trading days before the ESOP options were offered. 

The exercise price of other share options is based on the weighted average price at which the Company’s ordinary shares traded on the ASX during the 180 days of trading days before the options were offered. 

If there is a change of control in the Company, all unexercised options become immediately exercisable. 

The option exercise prices are subject to adjustment in certain circumstances as per ASX Listing Rule 6.22.2. 

Options granted carry no dividend or voting rights. 

Further information on options is set out in Note 27 of the financial statements. 

## Number of Options Provided as Remuneration During the Financial Year 

Details of options over unissued ordinary shares in the Company provided as remuneration to each Director and each of the other key management personnel are set out below: 

<img src='content_image/265165.jpg'>

* The value at grant date, calculated in accordance with AASB 2, of options granted during the financial year as part of their remuneration. 

No options over unissued ordinary shares in the Company lapsed during the financial year. 

## Shares Issued on the Exercise of Options Provided as Remuneration 

Details of fully paid ordinary shares in the Company issued as a result of the exercise of remuneration options to each Director and other key management personnel during the financial year are set out below: 

<img src='content_image/265164.jpg'>

