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For the three months ended 31 March 2013 

## 27. SHARE-BASED PAYMENT PLANS (CONTINUED) 

## (b) Executive Option Plan (EOP) (continued) 

## Middle Management – Executive Options 

No options were granted to middle management during the three months to 31 March 2013 and 31 March 2012, and the twelve months to 31 December 2012� 

The following table illustrates the number (No�) and weighted average exercise prices (WAEP) of share options previously issued under the EOP� 

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## Terms of the Executive Option Plan 

An employee whose employment terminates prior to the vesting of any tranche will lose their unvested option entitlement, unless otherwise determined by the Board� 

Under the EOP where a participant ceases employment prior to the vesting of their award, the options are forfeited unless the Board applies its discretion to allow vesting at or post-cessation of employment in appropriate circumstances� 

In the event of a takeover or change in control of the Company: 

(a) 50% of unvested options granted within the last three years prior to the change in control, would vest, as soon as the Board forms the opinion that the takeover or change in control will occur; and 

(b) all or part of the other 50% of the unvested options granted within the last three years may be vested by the Board as determined in its absolute discretion� 

The outstanding balance as at 31 March 2013 is represented by: 

 250,000 options over ordinary shares with an exercise price of $1�00 each; 

 350,000 options over ordinary shares with an exercise price of $1�39 each; 

 290,625 options over ordinary shares with an exercise price of $2�09 each; and 

 1,306,656 options over ordinary shares with an exercise price of $3�27 each� 

Share options issued under the EOP and outstanding at the end of the year have the following exercise prices: 

