66 Finsbury Food Group Annual Report & Accounts 2016





27. Share Capital (continued) 


Date of grant 3 July 2014 26 June 2015


Charge relating to options granted in the current year Credit relating to options granted in prior years Credit included in Administrative expenses


Details of share options outstanding at 2 July 2016 and movements during the year by exercise price is shown below:


Exercise price


58.0p 54.8p 20.5p 20.5p 20.0p 14.0p Nil Nil Nil


exercise date


First


exercise date


  Jul 2017 Jul 2014 Jul 2014   Sep 2018 Jul 2019 Jul 2020


Last At 27 June 2015 Granted Forfeited Cancelled Exercised At 2 July 2016 Jul 2024


Oct 2016 2,753,659 Oct 2016 2,500,000 Aug 2015  Dec 2025 Jun 2025 Dec 2025


302,758---- 302,758 155,172---- 155,172 - - - -


- -


39,240 28,300 -


7,638,244 423,980


1,200,146 1,624,126


Granted


(39,240) - -


- (39,240) Forfeited


(2,753,659) (2,500,000) - - -


- (5,253,659)


A summary of share options outstanding and movements for the year to 27 June 2015 is shown below: At 28 June 2014


Number of options 7,054,926 2,014,287 (61,460) Cancelled (20,340)


- - -


(28,300) -


- (28,300) Exercised (1,349,169)


Number of options granted


155,172 1,859,115


Number of options expected to vest


155,172 680,436


Exercise price


54.8p Nil


 £000


13 135


Amount expensed in year to


27 June 2015 £000


4 -


4


(14) (10)


Period of expense


3 years 4 years


- - - -


423,980


1,859,115 ---- 1,859,115 -


1,200,146 3,941,171


At 27 June 2015 7,638,244


There were no options exercisable at the period end date (2015: 5,321,199). There were 28,300 options exercised during the year (2015: 1,349,169). The share price at date of exercise was 111.0 pence per share.


The options outstanding at the year end have weighted average exercise price of 6.6p (2015: 27.1p) and a weighted average contractual life of 5.9 years (2015: 5.5 years).


 An external consultant assists with the valuation of the awards.


 2016


Expected life of option Volatility of share price Dividend yield


Risk-free discount rate Share price at grant date Exercise price


Performance period


Post-vesting holding period Employee turnover


3.0 years 29% 1.9%


0.80% 110.6p Nil


3 years


0-2 years Zero


2015


3.0 years 30% 2.3%


0.90% 83.5p Nil


3 years 2 years 


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