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## Directors’ Report 

## REMUNERATION REPORT - continued 

## Table 5 - Value of Options 

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Notes: 

(i) The value at grant date calculated in accordance with AASB 2 Share-based Payment of options granted during the year as part of remuneration. 

(ii) The value at the exercise date of options that were granted as part of remuneration and were exercised during the year has been determined as the intrinsic value of the options at that date. 

(iii) No director’s options or senior executive options lapsed during or since the end of the financial year. 

(iv) 400,000 options exercised at $1.50 and 600,000 options exercised at $1.00. 

No amounts were unpaid on any shares issued on the exercise of options. 

