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Notes to the Consolidated Financial Statements
30 June 2013
86 BRADKEN LIMITED ANNUAL REPORT 2013
Notes to the consolidated financial statements
30 June 2013
(continued)
35 Share based payments (continued)
(b) Performance Rights Plan (continued)
Summary of Rights issues in the plan:
Grant date
Number of
Rights
Fair value per
Right
34,537
$5.13
550,078
$6.12
24,304
$4.76
24,311
$4.76
17,877
$4.01
577,235
$4.76
16,493
$2.84
32,987
$3.39
44,876
$2.84
1,089,921
$3.39
Percentage of Rights available
in given year to vest
In assessing whether the performance hurdles have been met, the Human Resources Committee receives independent data
from an independent investment bank which provides both Bradken's growth from previous financial years and that of the ASX
Small Industrials Index. The Company's performance against the hurdle is then determined with each company in the ASX
Small Industrials Index and Bradken being ranked in order of growth in results from previous financial years. The Company's
percentile ranking is determined by aggregating the weighting within the ASX Small Industrials Index (based on market
capitalisation) of each company ranked below Bradken. The method of assessment was chosen as it provides the Committee
with an objective means of measuring the Company's performance against its peer group.
Dividends, changes in share price, and return of capital are included in the TSR calculation which is one of the performance
criteria assessed for the LTI. The specific TSR performance conditions in relation to the grants are:
There were no other Rights eligible for issuance under the scheme at 30 June 2013.
The Company’s TSR does not meet performance of the median company in ASX Small Cap
30 June 2012 / 2013
30 June 2014
5 November 2010
5 November 2010
The Company’s TSR ranked in fourth quartile of companies in ASX Small Cap
Financial periods in which Rights
may vest
23 October 2012
30 June 2014 / 2015
23 October 2012
30 June 2016
100
23 October 2012
30 June 2014 / 2016
23 October 2012
30 June 2015 / 2016
7 October 2011
30 June 2013 / 2015
7 October 2011
30 June 2014 / 2015
7 October 2011
30 June 2015
7 October 2011
30 June 2013 / 2014
Target
The Company’s TSR equals or exceeds performance of the median company in ASX Small Cap
The Company’s TSR ranked in third quartile of companies in ASX Small Cap
Pro rata between 50 and 100
New entrants to the scheme are provided with a transition to the 3 year plan.
50
0
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Bradken Limited