annual report 2012 - Pumpkin Patch investor relations

pumpkin patch limited & subsidiaries NOTES TO THE financial statements 31 july 2012pumpkin patch limited & subsidiaries NOTES TO THE financial statements 31 july 201219 Share-based paymentsEmployee Option PlanDuring the financial year the Company issued no new share options (2011: nil).The Company has recognised a compensatory expense in the income statementof $14,000 (2011: $51,000).Set out below are summaries of options granted under the plan:GrantDateExpirydateExercise priceBalance atstart of theyearExpired/Lapsed duringthe yearBalanceat end of theyearExercisableat end of theyear000s 000s 000s $000June 2007 9 June 2012 3.33 1,453 (1,453) - -June 2008 9 June 2013 1.59 637 (119) 518 824June 2009 9 June 2014 1.30 698 (121) 577 750Total 2,788 (1,693) 1,095 1,574Weighted average exercise price 2.42 3.06 1.4419 Share based payments continuedLong Term Incentive Employee Share SchemeThe shares issued under this scheme are held in Trust by Pumpkin Patch Nominees Limitedfor a vesting period of three years from the issue date. At the end of the vesting period,subject to the participants still being employed by the Group, the Company will issuea bonus to the participants to the value of their interest free loan, grossed up for eachparticipants personal income marginal tax rate. The bonus issued can only be used by theparticipants to repay their interest free loan.During the current financial year the Company issued no new Long Term Incentive (LTI)shares (2011: 701,609 shares). The Company has recognised a compensatory expense inthe income statement of $335,000 (2011: $408,000).OpeningBalanceIssuedduringthe yearLapsedduringthe yearClosingBalance2010 LTI shares issued on 23 November 2010 atan issue price of $1.86 661,895 - (185,754) 476,141Partly Paid Share SchemeDuring the financial year the Company issued no new partly paid redeemable shares(2011: nil). The Company has recognised a compensatory expense in the IncomeStatement of $11,000 (2011: $102,000).Set out below are summaries of options granted under the plan:GrantDateExpirydateExercise priceBalance atstart of theyearExpired/Lapsed duringthe yearBalanceat end of theyearExercisableat end of theyear000s 000s 000s $000June 2008 23 June 2013 1.59 1,100 (155) 945 1,503June 2009 23 June 2014 1.30 1,235 (315) 920 1,196Total 2,335 (470) 1,865 2,699Weighted average exercise price 1.44 1.40 1.4583