Page 94 - Forterra

92 FORTERRA
ANNUAL REPORT 2012
NOTES TO THE
FINANCIAL STATEMENTS
17 FORTERRA UNIT OPTION SCHEME (CONTINUED)
The number of unit options outstanding at 31 December 2012 and 31 December 2011 are summarised
as follows:
Tranches One Two Three Four Five Six Seven
Outstanding at
31 December 2011 3,450,000 3,810,000 – 150,000 1,750,000 200,000 –
Granted during the year – – – – – – 575,000
Lapsed during the year – (2,475,000) – – – – –
Outstanding at
31 December 2012 3,450,000 1,335,000 – 150,000 1,750,000 200,000 575,000
Exercisable at
31 December 2011 3,450,000 3,810,000 – 150,000 – – –
Exercisable at
31 December 2012 3,450,000 1,335,000 – 150,000 – 200,000 –
There were no unit options exercised during the current financial year.
2,475,000 unit options lapsed during the year upon the employment termination of the grantees.
The Trust also recognised compensation expenses of S$552,000 (2011: S$297,000) 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
2012 2011
$’000 $’000
Base rent 79,493 75,482
Service charge income 19,492 17,253
98,985 92,735
19 TRUSTEE-MANAGER’S FEES
2012 2011
$’000 $’000
Base management fee 12,698 11,516
Performance management fee 2,043 2,068
Trustee fee 508 461
Others 1,067 983
16,316 15,028
Trustee-Manager’s fees are payable to the Trustee-Manager, a subsidiary of Oriental Management
Services Limited which is wholly owned by a controlling unitholder of the Trust.