Page 140 - Neal and Massy Holdings Annual Report 2012

138 2012
NOTES TO THE Consolidated FINANCIAL STATEMENTS
September 30, 2012
Expressed in Thousands of Trinidad and Tobago dollars
20 Share Capital
Number 0f Ordinary
shares shares Total
# $ $
At September 30, 2010 96,595 538,220 538,220
Employee share option scheme
- value of services provided - 85 85
Share option exercised 54 1,876 1,876
At September 30, 2011 96,649 540,181 540,181
At September 30, 2011 96,649 540,181 540,181
Share option exercised 353 13,063 13,063
Shares to be issued 33 1,244 1,244
At September 30, 2012 97,035 554,488 554,488
The total authorised number of ordinary shares is unlimited with no par value. All issued shares are fully paid.
Share options
Effective October 1, 2004, the Parent Company introduced an executive share option plan. Share options will be granted to individuals
employed by the Parent Company or its subsidiaries in a senior capacity including directors holding any executive office with the
Company or any of its subsidiaries. Options are granted at the average market price of the shares in the calendar month prior to the
beginning of the applicable performance period and are exercisable at that price. Options are exercisable beginning three years from
the date of grant and have a contractual option term of three years. When the options are exercised, the proceeds received net of any
transaction costs are credited to share capital.
Movements in the number of share options outstanding and their related weighted average exercise prices are as follows:
2012 2011
000’s 000’s
Options Options
At October 1 1,754 1,808
Forfeited (52) -
Exercised (353) (54)
To be issued (33) -
Expired (483) -
At September 30 833 1,754