Annual Report & Accounts 2006 - Notes To The Financial Statements
23. SHARE BASED PAYMENT
Eden Research plc operates an unapproved option scheme for executive directors, senior management and certain
employees.
2006
Weighted
average
exercise price
(pence) number
Outstanding at the beginning of the year 35 5,375,711
Granted during the year 23 3,295,000
Lapsed during the year 42 (55,550)
30 8,615,161
The exercise price of options outstanding at the end of the year ranged between 9p and 160p and their weighted
average contractual life was 2.2 years.
The weighted average share price (at the date of exercise) of options exercised during the year was £nil.
The weighted average fair value of each option granted during the year was 15p.
The following information is relevant in the determination of the fair value of options granted during the year
under the unapproved options scheme operated by Eden Research plc:
2006
Equity-settled
Option pricing model used Black Scholes
Weighted average share price at grant date (pence) 23
Exercise price (pence) 30
Weighted average contractual life (days) 787
Equity-settled
Expected volatility 73.6%
Expected dividend growth rate –
Risk-free interest rate 4.43
