Page 100 - TreasuryChinaTrust2011

98
Notes to the Financial Statements
17 TCT SUBSTITUTION OPTION SCHEME (CONTINUED)
The number of unit options outstanding at 31 December 2011 and 31 December 2010 are summarised as follows:
Tranches One Two Three Four Five Six
Outstanding at
21 June 2010 and
31 December 2010 3,825,000 3,810,000 75,000 150,000 2,000,000 –
Granted during the year – – – – – 400,000
Exercised during the year (375,000) – – – – –
Lapsed during the year – – (75,000) – (250,000) (200,000)
Outstanding at
31 December 2011 3,450,000 3,810,000 – 150,000 1,750,000 200,000
Exercisable balance
at 21 June 2010 and
31 December 2010 3,825,000 3,810,000 75,000 150,000 – –
Exercisable balance
at 31 December 2011 3,450,000 3,810,000 – 150,000 – –
525,000 unit options have lapsed during the year upon employment termination of the grantees. The Trust also
recognised compensation expenses of $297,000 (2010: $368,000) relating to equity-settled unit-based awards. The
fair value of unit-based payment awards is expensed over the vesting period, together with a corresponding credit in
unit option reserve in the Unitholders’ funds.
18 GROSS RENTAL INCOME
Year ended
31/12/2011
Period from
19/5/2010 to
31/12/2010
$’000 $’000
Base rent 75,482 31,463
Service charge income 17,253 8,069
92,735 39,532
Refer to Note 31 for detailed analysis.
SAR1112034_TCT_AR_().indb 98 3/23/2012