Share Based compensation: options
The terms and conditions of each grant of options affecting remuneration in this or future reporting periods are in accordance with the Kingsgate Employees and Contractors Option Plan and the Kingsgate Executive Option plan. For details of these plans and the valuation of options, including models and assumptions used, please refer to Note 25.

A = The percentage of the value of remuneration consisting of options, based on the value at grant date

B = The value at grant date calculated in accordance with AASB 2 Share Based Payment of Options granted during the year as part of remuneration

C = The value at exercise date of options that were granted as part of remuneration and were exercised during the year

D = The value at lapse date of options that were granted as part of remuneration and that lapsed during the year

Shares under employee options
As at the date of this report, there were 3,600,000 unissued ordinary shares under option (3,600,000 at the reporting date). Refer to Note 25 of the financial statements for further details of the options outstanding.

Option holders do not have any right, by virtue of the option, to participate in any share issue of the Company.

Shares issued on the exercise of options
During the financial year, employees and executives did not exercise any options.
No further shares have been issued since 30 June 2007 and no amounts are unpaid on any of the shares.