Notes to and forming part of the consolidated financial
statements for the year ended 30 June 2010
Note 39. Commitments for expenditure
2010 2009
$’000 $’000)
Operating leases
Commitments for minimum lease payments in relation to non-cancellable operating leases are payable as follows:
Within one year 41,196 42,854
Later than one year but not later than five years 87,903 78,480
Later than five years 10,694 9,421
Commitments not recognised in the financial statements 139,793 130,755
Finance leases
Commitments in relation to finance leases are payable as follows:
Within one year 5,023 4,703
Later than one year but not later than five years 14,425 13,907
Later than five years 986 972
Minimum lease charges 20,434 19,582
Future finance charges (3,278) (2,756)
Total lease liabilities recognised as a liability 17,156 16,826
The average interest rate implicit in the leases is 8.13 per cent (2009: 8.11 per cent).
Capital commitments
Commitments in relation to non-contracted capital expenditure is as follows:
Within one year 210 -
Note 40. Share-based payments
(a) T ranShare Executive Performance Awards Plan
A detailed analysis of the conditions of the TranShare Executive Performance Awards Plan is set out in the Remuneration Report on pages 50-69.
Set out below are summaries of Options and Performance Awards granted under the Plan:
Balance at Gra ntedE xercised    Forfeited    Balance at E xercisable
Grant E xpiry E xercise the start d uring d uring d uring the end ofa t the end
Date Date Price of the year the year    the year    the year    the year    of the year
N umberN umberN umberN umberN umberN umber
Options
28 November 2002 28 November 2009 $2.62 67,600 - (67,600) - - -
Weighted average exercise price $2.62 - - - - - -
Performance Awards
25 February 2004 25 February 2011 $Nil 17,624 - (17,624) - - -
30 August 2004 30 August 2011 $Nil 25,293 - (25,293) - - -
28 February 2005 28 February 2012 $Nil 23,019 - (9,042) - 13,977 13,977
30 August 2005 30 August 2012 $Nil 200,000* - - - 200,000 -
16 November 2005 16 November 2012 $Nil 59,000 - - (59,000) - -
19 April 2006 19 April 2012 $Nil 190,9031 - (107,152) - 83,751 31,260
31 August 2006 31 August 2012 $Nil 356,700 - - (186,000) 170,700 -
31 October 2006 31 December 2012 $Nil 300,000 - - (300,000) - -
28 February 2007 28 February 2013 $Nil 353,812 - (34,795) (194,290) 124,727 18,073
31 May 2007 31 May 2013 $Nil 43,125 - - (14,375) 28,750 -
31 August 2007 31 August 2013 $Nil 366,652 - (80,000) (142,002) 144,650 -
28 February 2008 28 February 2013 $Nil 326,337 - - (143,787) 182,550 -
31 August 2008 31 August 2014 $Nil 1,272,900 - - (725,516) 547,384 -
26 September 2009 26 September 2015 $Nil - 2,509,800 - (200,500) 2,309,300 -
3,535,365 2,509,800 (273,906) (1,965,470) 3,805,789 63,310
Weighted average exercise price $Nil $Nil $Nil $Nil $Nil $Nil
* 100 per cent of these Performance Awards failed to vest at the 30 August 2008 testing date. The final testing date is 30 August 2010.
1. 98,450 of these Performance Awards failed to vest at the 30 April 2009 testing date. The final testing date is 30 April 2010.