Page 115 - SAR141018_Forterra AR 2013

FORTERRA
ANNUAL REPORT 2013
NOTES TO THE
FINANCIAL STATEMENTS
113
17 FORTERRA UNIT OPTION SCHEME (CONTINUED)
The number of unit options outstanding at 31 December 2013 and 31 December 2012 are
summarised as follows:
Tranches One Two Three Four Five Six Seven
Outstanding at
31 December 2012 3,450,000 1,335,000 – 150,000 1,750,000 200,000 575,000
Exercised during the year (175,000) – – – – – –
Lapsed during the year – (850,000) – – – (200,000) (400,000)
Outstanding at
31 December 2013 3,275,000 485,000 – 150,000 1,750,000 – 175,000
Exercisable at
31 December 2012 3,450,000 1,335,000 – 150,000 – 200,000 –
Exercisable at
31 December 2013 3,275,000 485,000 – 150,000 1,750,000 – 175,000
1,450,000 unit options (2012: 2,475,000) lapsed during the year upon the employment termination
of the grantees. The Trust recognised compensation expenses of $460,000 (2012: $552,000)
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
2013 2012
$’000 $’000
Base rent 63,443 79,493
Service charge income 13,507 19,492
76,950 98,985