Holiday Inn 2008 Annual Report Download - page 91

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25 Share-based payments continued
Movements in the awards and options outstanding under the schemes are as follows:
Annual Bonus Long Term
Plan Incentive Plan
Number of shares Number of shares
thousands thousands
Outstanding at 1 January 2007 1,001 11,325
Granted 675 3,539
Vested (418) (1,694)
Share capital consolidation (68) –
Lapsed or cancelled (86) (1,707)
Outstanding at 31 December 2007 1,104 11,463
Granted 662 5,061
Vested (472) (2,752)
Lapsed or cancelled (5) (2,619)
Outstanding at 31 December 2008 1,289 11,153
Fair value of awards granted during the year
2008 1,436.0¢ 870.4¢
2007 2,387.4¢ 910.0¢
Weighted average remaining contract life (years)
At 31 December 2008 1.6 1.2
At 31 December 2007 1.5 1.1
The above awards do not vest until the performance and service conditions have been met.
Sharesave Plan Executive Share Option Plan
Weighted Weighted
Number Range of average Number Range of average
of shares option prices option price of shares option prices option price
thousands pence pence thousands pence pence
Outstanding at 1 January 2007 165 420.5 420.5 14,079 308.5-619.8 482.2
Exercised (101) 420.5 420.5 (5,568) 308.5-619.8 471.9
Lapsed or cancelled (7) 420.5 420.5 (317) 438.0-619.8 526.8
Outstanding at 31 December 2007 57 420.5 420.5 8,194 308.5-619.8 487.4
Exercised (3) 420.5 420.5 (353) 434.2-619.8 543.6
Lapsed or cancelled (5) 420.5 420.5 (206) 349.1-593.2 431.3
Outstanding at 31 December 2008 49 420.5 420.5 7,635 308.5-619.8 486.3
Options exercisable
At 31 December 2008 – – – 7,635 308.5-619.8 486.3
At 31 December 2007 – – – 6,583 308.5-619.8 455.0
Included within the options outstanding under the Executive Share Option Plan are options over 2,424,605 (2007 2,696,883, 2006 4,055,674) shares that have not been
recognised in accordance with IFRS 2 as the options were granted on or before 7 November 2002. These options, relating to former Six Continents share schemes,
have not been subsequently modified and therefore do not need to be accounted for in accordance with IFRS 2.
The weighted average share price at the date of exercise for share options vested during the year was 815.0p. The closing share price
on 31 December 2008 was 562.0p and the range during the year was 447.5p to 865.0p per share.
Notes to the Group financial statements 89
GROUP FINANCIAL
STATEMENTS