Directors’ Report
60
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Value of share rights 
Share Rights
Name
Financial year 
that rights  
may vest
Number  
granted
Fair value  
per right at 
grant date5 
$
Total  
fair value at 
grant date5 
$
Maximum  
value yet  
to vest2 
$
Value at  
vesting date3 
$
Value at  
lapse date4 
$
G Thomas
Deferred 2013 52,181 4.73 246,815 – 66,009 –
Deferred 2014 53,901 4.38 236,087 147,5 5 4 – –
Performance 2015 222,955 1.92 428,074 352,447 – –
D Woodbury
Deferred 2013 13,298 5.91 78,590 – 16,822 –
Deferred 2014 13,736 5.57 76,511 47,819 – –
Deferred 2015 14,204 5.17 73,438 60,464 – –
Performance 2015 28,409 3.21 91,193 75,082 – –
T Benfield
Deferred 2015 14,204 5.17 73,438 60,464 – –
Performance 2015 28,409 3.21 91,193 83,138 – –
R James
Deferred 2013 10,638 5.91 62,872 – 13,457 –
Deferred 2014 10,989 5.57 61,209 38,255 – –
Deferred 2015 11,364 5.17 58,750 48,371 – –
Performance 2015 22,728 3.21 72,955 60,066 – –
R Coyle
Deferred 2013 10,372 5.91 61,301 – 13,121 –
Deferred 2014 10,714 5.57 56,679 37,29 9 – –
Deferred 2015 11,080 5.17 57,281 47,162 – –
Performance 2015 22,159 3.21 71,131 58,564 – –
J Forwood
Deferred 2014 9,066 5.57 50,497 31,561 – –
Deferred 2015 9,375 5.17 48,469 39,906 – –
Performance 2015 18,750 3.21 60,188 49,554 – –
1	 The	minimum	value	of	the	rights	yet	to	vest	is	nil,	as	the	rights	will	be	forfeited	if	the	Key	Management	Personnel	fails	to	meet	a	vesting	condition.
2	 The	maximum	value	of	the	share	rights	yet	to	vest	has	been	determined	as	the	fair	value	of	the	rights	at	the	grant	date	that	is	yet	to	be	expensed.
3  The value at vesting date (30 June 2013) is the number of rights vesting multiplied by the Company’s share price on the vesting date. As rights convert to ordinary  
shares	on	the	vesting	date,	this	date	is	also	the	exercise	date.	No	payment	by	the	holder	of	the	right	is	required	on	vesting	of	the	right.
4  The value at lapse date is the number of rights lapsing multiplied by the Company’s share price at the close of business on that day. No rights lapsed on the 2013 financial year.
5	 	The	fair	value	of	the	performance	rights	was	estimated	using	Monte	Carlo	simulation,	taking	into	account	the	terms	and	conditions	upon	which	the	awards	were	 
granted (refer to Note 24 of the Financial Statements).
Share options issued under the previous LTI Plan
No shares were issued during the year on the exercise of options. All options held by Key Management Personnel at the beginning of the year issued under 
this plan expired during the year and no further options have been issued. These options vested in a prior period hence there was no impact on Key 
Management Personnel remuneration for the year.
End of Remuneration Report