20645_Scapa_AR_160504

NOTES ON THE ACCOUNTS CONTINUED
26. SHARE OPTIONS CONTINUED
– Sharesave
The Scapa Group 2011 Sharesave Scheme is an Inland Revenue approved Save-As-You-Earn (SAYE) share option scheme pursuant to which
eligible employees (including Executive Directors) in the United Kingdom who have worked a minimum six-month qualifying period and agree to
save a fixed amount for three or five years under an approved savings contract are granted options to subscribe for shares in the Company at a
discounted exercise price. The maximum amount that can be saved by a participant is £250 per month. In normal circumstances options are
exercisable for six-months following the completion of a savings contract using the proceeds from that contract. The exercise price is based on
the market value of the shares as of the date of grant, less a discount of 20%.
The following tables show the inputs to the model used to calculate the fair value of equity-settled share options granted during the years ended
31 March 2016 and 31 March 2015 respectively:
Performance share
plan awarded
Year ended 31 March 2016
22 Jul 2015
Weighted average share price (p) 1.96
Weighted average exercise price (p)
Nil
Weighted average fair value of options granted (p) 1.96
Expected volatility (%)
n/a
Expected life (months) 36
Risk free rate (%)
n/a
Performance share
plan awarded
Year ended 31 March 2015
24 Jul 2014
Weighted average share price (p) 1.31
Weighted average exercise price (p)
Nil
Weighted average fair value of options granted (p) 1.31
Expected volatility (%)
n/a
Expected life (months) 36
Risk free rate (%)
n/a
The expected volatility is based upon the historical volatility of the Group’s share price over the expected life of the option.
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SCAPA GROUP PLC ANNUAL REPORT AND ACCOUNTS 2016
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Annual Report and Accounts 2016 Scapa Group plc