Annual Report and Accounts 2012 - Speedy Hire plc

Financial statements 81
23 Share incentives continued
The fair value of services received in return for share options granted and shares awarded is measured by reference to the fair value of
those instruments. The pricing models and inputs used for the outstanding options (on a weighted average basis where appropriate)
are as follows:
Speedy Hire Sharesave Scheme
December
2011
December
2010
September
2009
December
2007
September
2007
Pricing model used Stochastic Stochastic Stochastic Stochastic Stochastic
Exercise price 15p 21p 29p 183p 255p
Share price volatility 87.0% 88.2% 85.7% 25.5% 22.9%
Option life 3.25 years 3.25 years 3.25 years 3.25 years 3.25 years
Expected dividend yield 2.1% 1.4% 3.1% 2.1% 1.5%
Risk-free interest rate 0.5% 1.4% 2.1% 4.5% 5.3%
Co-Investment Plan
Pricing model used Stochastic Stochastic
Exercise price Nil Nil
Share price volatility – –
Option life 3 years 3 years
Expected dividend yield 3.7% 1.4%
Risk-free interest rate 5.2% 5.8%
Performance Plan
July
2011
July
2010
September
2009
Pricing model used Stochastic Stochastic Stochastic Stochastic Stochastic
Exercise price Nil Nil Nil Nil Nil
Share price volatility 91.3% 94.0% 88.0% 29.3% 23.6%
Option life 3 years 3 years 3 years 3 years 3 years
Expected dividend yield 1.3% 1.5% 3.1% 3.7% 1.4%
Risk-free interest rate 1.0% 1.2% 2.1% 5.2% 5.8%
July
2008
July
2008
July
2007
July
2007
Speedy Hire Plc Annual Report and Accounts 2012
Financial statements