Creative 2013 Annual Report Download - page 51

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51
CREATIVE TECHNOLOGY LTD AND ITS SUBSIDIARIES
      
       
date date      
31.3.2010 31.3.2011 514.5 3.49 56.07 1.99 0.45 3.57
31.3.2010 31.3.2012 514.5 3.40 56.07 1.99 0.62 3.57
31.3.2010 31.3.2013 514.5 3.33 56.07 1.99 0.72 3.57
31.3.2010 31.3.2014 514.5 3.29 56.07 1.99 1.08 3.57
Movements in the number of performance shares are as follows:
Outstanding Outstanding
at Vested and at
Grant 1 July 2012 Granted released Cancelled 30 June 2013
     
31 March 2010 1,098 – (307) (230) 561
(c) Performance shares
The Creative Performance Share Plan (the “Plan”) was approved by shareholders at an Extraordinary General Meeting on 29
October 2009 under which awards (the “Award”) of fully-paid shares, their equivalent cash value or combinations thereof,
will be issued free of charge, to eligible employees and non-executive directors of the Company and its subsidiaries, provided
that certain prescribed performance targets are met and/or upon expiry of the prescribed vesting periods.
On 31 March 2010, 2,793,600 performance shares were granted subject to the terms and conditions of the Plan. Of the
total performance shares granted, 716,950 shares were vested immediately on the date of grant.
There were no awards granted under the Plan during the nancial years ended 30 June 2013 and 2012.
The fair value of the performance shares is determined at the grant date using the Monte Carlo simulation model which
involves projecting future outcomes based on statistical distributions of key random variables including share price and
volatility of returns.
The fair values and assumption inputs used in the model are as follows:
Outstanding Outstanding
at Vested and at
Grant 1 July 2011 Granted released Cancelled 30 June 2012
     
31 March 2010 1,643 – (289) (256) 1,098
The 307,000 shares and 289,000 shares released during the nancial years ended 30 June 2013 and 2012 respectively were
satised using treasury shares.