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## Remuneration repor t (cont ’d) 

## 7.6 Key management personnel deferred shares, options and performance rights holdings (including movements during the 2012 year) 

Details on deferred ordinary shares in the Company that were granted as compensation to each key management person during the reporting period and details on deferred shares that vested during the reporting period are as follows: 

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(1) In July 2011, Mr Kelaher was awarded an STI amount of $612,000 for the 2010-11 financial year (2010: $594,000) of which one-third was settled in the form of deferred shares (2010: 50%). The number of deferred shares issued was 31,694 which vested in July 2012 (2010: 48,238). 

(2) In June 2012, the Remuneration Committee assessed Mr Kelaher’s performance against key performance indicators for the 2011-12 financial year and determined an STI amount of $626,400. 

In terms of his remuneration arrangements, the STI opportunity was settled two thirds by cash and one third in the form of deferred shares. The number of deferred shares granted to Mr Kelaher was determined on the basis of the STI deferral amount divided by the five day Volume Weighted Average Price up to and including 29 June 2012, which was $5.8038. The number of deferred shares to be issued accordingly is 35,977 (capped at 75,000 annually) and there is no consideration payable for the grant of the deferred shares. 

