Peachtree 2012 Annual Report Download - page 115

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Overview
Performance
Governance
Net debt and capital structure continued
Grant date
March
2011
September
2011
March
2012
March
2012
June
2012
Share price at grant date £2.70 £2.57 £2.98 £2.98 £2.60
Exercise price £0.00 £0.00 £0.00 £0.00 £0.00
Number of employees 207 1 8154 1
Shares under award 7,547,001 84,413 2,083,735 2,067,290 12,538
Vesting period (years) 3 3 333
Expected volatility 31% 29% 24% 24% 24%
Award life (years) 3 3 3 3 3
Expected life (years) 3 3 3 3 3
Risk free rate 1.6% 0.6% 0.5% 0.5% 0.5%
Expected dividends expressed as a dividend yield 0.0% 0.0% 0.0% 0.0% 0.0%
Fair value per award £2.121 £1.993 £2.415 £2.979 £2.979
The expected volatility is based on historical volatility over the last three years. The expected life is the average expected period to exercise. The risk free rate of
return is the yield on zero-coupon UK government bonds of a term consistent with the assumed award life.
A reconciliation of award movements over the year is shown below:
2012 2011
Number
’000s
Weighted
average
exercise
price
£
Number
’000s
Weighted
average
exercise
price
£
Outstanding at 1 October 27,304 – 24,810 –
Awarded 4,363 – 8,586 –
Forfeited (6,694) –(4,925) –
Exercised (5,845) –(1,167) –
Outstanding at 30 September 19,128 – 27,304 –
Exercisable at 30 September – – ––
2012 2011
Weighted
average
exercise
price
£
Number
of shares
’000s
Weighted average
remaining life years
Weighted
average
exercise
price
£
Number
of shares
’000s
Weighted average
remaining life years
Range of exercise prices Expected Contractual Expected Contractual
N/A – 19,128 1.3 1.3 – 27,304 1.3 1.3
Financial statements
113
The Sage Group plc | Annual Report & Accounts 2012