27 | Share option scheme |
The group currently has the 2001 and 2003 schemes and the 2006 share plan that are still active. The objective of these schemes is to recognise the contributions of senior staff to the value added to the group's financial position and performance and to retain key employees. | |
Options granted under the 2001 and 2003 schemes | |
Refer to note 34 of the group financial statements for the information relating to the 2001 and 2003 schemes. The following information relates specifically to the company. |
Number of share options relating to the 2001 and 2003 | Number of shares | |||||
---|---|---|---|---|---|---|
option scheme | 2010 | 2009 | ||||
Share options granted | 19 298 719 | 19 298 719 | ||||
Exercised | 13 413 392 | 13 091 469 | ||||
Vested but not exercised | 1 498 666 | 1 234 321 | ||||
Unvested | | 602 667 | ||||
Forfeited and lapsed | 4 386 661 | 4 370 262 | ||||
Vesting periods of unvested options granted: | ||||||
Within one year | | 602 667 | ||||
Total number of unvested shares | | 602 667 | ||||
No options were granted in the 2009 and 2010 financial years for the 2001 and 2003 option schemes. | ||||||
Activity on share options granted but not yet exercised | Number of shares | Weighted average option price (SA rand) | ||||
For the year ended 30 June 2010 | ||||||
Balance at beginning of year | 1 836 987 | 47.54 | ||||
Options exercised | (321 922) | 44.55 | ||||
Options forfeited and lapsed | (16 399) | 44.09 | ||||
Balance at end of year | 1 498 666 | 48.22 | ||||
For the year ended 30 June 2009 | ||||||
Balance at beginning of year | 2 410 629 | 49.34 | ||||
Options exercised | (948 444) | 50.53 | ||||
Options forfeited and lapsed | (108 551) | 57.10 | ||||
Intercompany transfer of employees | 483 353 | |||||
Balance at end of year | 1 836 987 | 47.54 | ||||
List of options granted but not yet exercised (listed by granted date) | At 30 June 2010 | Strike price (SA rand) | Remaining life (year) | |
---|---|---|---|---|
24 April 2001 | 17 000 | 36.50 | 0.8 | |
20 November 2001 | 146 701 | 49.60 | 1.4 | |
23 September 2002 | – | 66.00 | 2.2 | |
27 March 2003 | 32 900 | 91.60 | 2.7 | |
10 August 2004 | 389 519 | 66.15 | 4.1 | |
26 April 2005 | 912 546 | 39.00 | 4.8 | |
Total options granted but not yet exercised | 1 498 666 | |||
Number of shares | ||||
---|---|---|---|---|
List of options granted but not yet vested (listed by grant date) | 2010 | 2009 | ||
10 August 2004 | | 199 556 | ||
26 April 2005 | | 403 111 | ||
Total options granted but not yet vested | | 602 667 | ||
SA rand | ||||
Figures in million | 2010 | 2009 | ||
Average market value of share options traded during the year | 25 | 49 | ||
Average fair value of share options vested during the year | 28 | 75 | ||
Share-based cost recognised | 1 | 1 | ||
Options granted under the 2006 share plan | ||||
Refer to note 34 of the group financial statements for the information relating to the 2006 share plan, the following information relates specifically to the company. | ||||
Number of shares | ||||
Number of shares relating to the 2006 share plan | 2010 | 2009 | ||
Shares granted | 6 698 764 | 4 978 099 | ||
Vested | 86 681 | | ||
Performance shares | | | ||
Share appreciation rights | 86 681 | | ||
Unvested | 5 776 404 | 4 536 526 | ||
Performance shares | 2 231 202 | 2 012 382 | ||
Share appreciation rights | 3 545 202 | 2 524 144 | ||
Shares forfeited | 835 679 | 441 573 | ||
Performance shares | 450 105 | 207 711 | ||
Share appreciation rights | 385 574 | 233 862 | ||
Number of shares | ||||
Number of shares relating to the 2006 share plan | 2010 | 2009 | ||
Vesting periods of shares granted: | ||||
Within one year | 959 767 | 292 704 | ||
One to two years | 2 075 359 | 984 755 | ||
Two to three years | 1 588 682 | 2 140 230 | ||
Three to four years | 751 042 | 753 272 | ||
Four to five years | 401 554 | 365 565 | ||
Total number of unvested shares | 5 776 404 | 4 536 526 |
2010 | 2009 | ||||
---|---|---|---|---|---|
Activity on PS and SARs granted but not yet exercised | Number of shares | Weighted average option price (SA rand) | Number of shares | Weighted average option price (SA rand) | |
For the year ended 30 June 2010 | |||||
Balance at beginning of year | 4 536 526 | 2 237 522 | |||
Performance shares | 2 012 382 | n/a | 737 523 | n/a | |
Share appreciation rights | 2 524 144 | 78.68 | 1 499 999 | 79.46 | |
Options granted | 1 720 665 | 2 426 727 | |||
Performance shares | 461 214 | n/a | 1 316 659 | n/a | |
Share appreciation rights | 1 259 451 | 77.28 | 1 110 068 | 77.81 | |
Options lapsed | (394 106) | (184 342) | |||
Performance shares | (242 394) | n/a | (75 823) | n/a | |
Share appreciation rights | (151 712) | 79.40 | (108 519) | 80.34 | |
Options vested | (86 681) | | |||
Performance shares | | n/a | | ||
Share appreciation rights | (86 681) | 112.64 | | – | |
Intercompany transfers of employees | | 56 619 | |||
Performance shares | | 34 023 | |||
Share appreciation rights | | 22 596 | |||
Balance at end of year | 5 776 404 | 4 536 526 | |||
Performance shares | 2 231 202 | n/a | 2 012 382 | n/a | |
Share appreciation rights | 3 545 202 | 77.32 | 2 524 144 | 78.68 | |
List of shares granted but not yet exercised (listed by granted date) | At 30 June 2010 | Strike price | Remaining life (year) | |
---|---|---|---|---|
Performance shares | ||||
15 November 2007 | 489 634 | n/a | 0.4 | |
7 March 2008 | 12 308 | n/a | 0.7 | |
5 December 2008 | 1 268 046 | n/a | 1.4 | |
16 November 2009 | 461 214 | n/a | 2.4 | |
Share appreciation rights | ||||
15 November 2006 | 162 801 | 112.64 | 2.4 | |
15 November 2007 | 1 083 120 | 70.54 | 3.4 | |
7 March 2008 | 46 154 | 102.00 | 3.7 | |
5 December 2008 | 1 048 465 | 77.81 | 4.4 | |
16 November 2009 | 1 204 662 | 77.28 | 5.4 | |
Total options granted but not yet exercised | 5 776 404 | |||
None of the vested share options for the 2006 share plan have been exercised yet. | ||||