Ecowise Annual Report 2007 - ecoWise Holdings Limited

Notes to FinancialStatements31 October 200712. SHARE BASED PAYMENTS (Cont’d)(C)The company has an employee share option scheme known as the ecoWise Employee Share Option Scheme(”the Scheme”) more fully disclosed in paragraph A above.Activities under the Scheme are summarised as follows:WeightedWeightedTotal average Total averageshare options exercise price share options exercise price2007 2007 2006 2006Outstanding at 31 October 2006 1,750,000 0.08 1,750,000 0.08Granted – – – –Exercised (1,750,000) 0.08 – –Exercisable at 31 October 2007 – – 1,750,000 0.08There are no employee’s and director’s stock options outstanding at 31 October 2007.The group adopted FRS102 Share-based Payment with effective from 1 January 2005, more fully disclosed inNote 2 in these financial statements.The scheme was:• terminated by resolution and approved by shareholders at the extraordinary general meeting held on23 March 2007.• substituted with the ecoWise Performance Share Plan as set out in paragraph below.Share option reserve:GroupCompany2007 2006 2007 2006$’000 $’000 $’000 $’000At beginning of year 1 November as previously reported 9 2 9 2Grant of performance share and share option expenses 812 7 812 7Transfer to share capital (Note 21) (37) – (37) –At end of year 31 October 2007– included in share-based compensationreserves 784 9 784 9The expense for the year allocated to income statement included in other charges are as follows:Amortisation of employee share option expenses 28 7Share-based compensation expense 784 –65