Annual Report - AWB Limited

AWB LIMITED Directors’ reportTable 11 - Factors and assumptions used in determining the fair value of performance rights on grant dateGrant dateExpirydate (i)Fair value perperformancerightExerciseprice (ii)Price of shareson grant dateEstimatedvolatilityRisk freeinterest rateDividendYield1 October 2003 1 October 2007 $3.01 $1.00 $3.90 13% 5.30% 6.40%1 October 2004 1 October 2008 $3.63 $1.00 $4.54 18% 5.40% 5.50%30 June 2006 30 June 2010 $2.73* $1.00 $4.33 24% 6.15% 5.93%1 October 2006 1 October 2010 $1.90 $- $3.38 29% 6.06% 5.90%1 October 2007 1 October 2011 $1.77 $- $2.57 37% 6.34% 3.29%* represents weighted average share price(i) With the exception of the 2006 plans the assumed expiry date disclosed is one year after vesting date as the performance rights are expectedto be exercised at this time. However, under the terms of the plans the performance rights expire 10 years after the grant date.(ii) The total consideration payable on the exercise of any performance rights granted on 1 October 2003, 1 October 2004 and 30 June 2006 on aparticular day will be one dollar in total (irrespective of the number of rights exercised on that day).Performance rights granted to KMPDuring the financial year, AWB Limited granted performance rights for no consideration over unissued ordinary shares in AWB Limited to thefollowing executive officers of the company as part of their remuneration:2008Table 12 - Performance rights granted to KMPKMPNumber ofrights granted Exercise price Expiry dateGordon Davis 369,649 $0 1 October 2011Philip Gentry (appointed 4 April 2008) 40,856 $0 1 October 2011Mark Hosking (resigned 4 April 2008) 147,081 $0 1 October 2011Phillip Meurer (resigned 30 April 2008) 140,077 $0 1 October 2011Mitch Morison 35,019 $0 1 October 2011Graeme Jacobs 140,077 $0 1 October 2011Kate Hughes (appointed 18 December 2007) 14,708 $0 1 October 2011Colin Taylor 128,404 $0 1 October 20112007Table 13 - Performance rights granted to KMPKMPNumber ofrights granted Exercise price Expiry dateGordon Davis 258,875 $0 1 October 2010Mark Hosking (appointed 16 April 2007) 53,254 $0 1 October 2010Mitch Morison (appointed 20 October 2006) 26,627 $0 1 October 2010Graeme Jacobs (appointed 15 February 2007) 66,567 $0 1 October 2010Margaret Wade (appointed 8 January 2007) 16,641 $0 1 October 2010David Johnson 53,786 $0 1 October 2010Colin Taylor 88,757 $0 1 October 2010Kevin Lynch 79,881 $0 1 October 2010Robert Hadler 71,005 $0 1 October 201052 www.awb.com.au