Annual Report - AWB Limited

Directors’ report AWB LIMITEDOptions and Rights held by KMPTable 14 - Options and Rights held by KMPRight holdingsHeld at1 October 2007Granted duringthe yearExercisedduring the yearLapsedduring the yearHeld at30 September2008Vested andExercisable asat 30 September2008Gordon Davis 258,875 369,649 - - 628,524 -Mark Hosking(resigned 4 April 2008) 53,254 147,081 - (200,335) - -Philip Gentry(appointed 4 April 2008) (i) - 40,856 - - 40,856 -John Russell(appointed 26 May 2008) - - - - - -Mitch Morison 62,396 35,019 - (10,311) 87,104 -Graeme Jacobs 66,567 140,077 - - 206,644 -Margaret Wade(resigned 18 December 2007) 16,641 - - (16,641) - -Kate Hughes(appointed 18 December 2007) (i) 10,355 14,708 - - 25,063 -Phillip Meurer(resigned 30 April 2008) - 140,177 - (140,177) - -David Johnson 53,786 - - (10,218) 43,568 -Colin Taylor 159,015 128,404 - - 287,419 -(i) These KMP were appointed during the year, as such, opening balances and certain grants made during the year were prior to these personsbeing considered KMP.The accounting value of the senior executives’ performance rights that were granted, exercised and lapsed in the 2008 financial year is detailedin the table below. As these values represent accounting values, the executive may not actually receive these amounts.The value of lapsed performance rights is based on accounting value. This value is included to address our reporting obligations only. Wherethese instruments lapse, there is no benefit at all to the executive, and therefore no transfer of any equity or equity-related instrument.The value of performance rights granted, exercised and lapsed in 2008 financial year is shown in Table 15.Table 15 - Value of performance rights holdingsRight holdingsGranted duringthe year (ii)Granted as% of totalremunerationExercisedduring the yearLapsed duringthe year (iii)Gordon Davis $750,387 33% $- $0Mark Hosking (resigned 4 April 2008) $192,386 20% $- -$552,925Philip Gentry (appointed 4 April 2008) $53,441 10% $- $0John Russell (appointed 26 May 2008) $0 - $- $0Mitch Morison $45,806 7% $- -$28,665Graeme Jacobs $183,225 18% $- $0Margaret Wade (resigned 18 December 2007) $0 - $- -$45,097Kate Hughes (appointed 18 December 2007) $19,239 5% $- $0Phillip Meurer (resigned 30 April 2008) $183,225 44% $- -$337,827David Johnson $0 - $- -$28,406Colin Taylor $167,956 17% $- $0(ii) Amounts granted during the year are amortised over four years.(iii) Lapsed values have been calculated in accordance with the Corporations Act 2001.Shares issued on exercise of performance rightsDuring or since the end of the financial year, the company issued ordinary shares as a result of the exercise of performance rights as follows:Table 16 - Shares issued on exercise of performance rightsNumber of sharesAmount paid on each exercise of performance rights0 $0.00www.awb.com.au 53