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This excerpt taken from the ELN 6-K filed Aug 28, 2009. Share
Options
We grant share options to certain employees, directors and
consultants under our 2006 Long-Term Incentive Plan (2006 LTIP).
The options are granted at fixed exercise prices equal to the
market value of our shares on the date of grant. The terms and
conditions of the share option plans and option activities are
disclosed in our 2008 Annual Report. Additional grants of share
options on similar terms were made to employees and directors
during the first half of 2009.
The fair value of services received in return for share options
granted to employees is measured by reference to the fair value
of share options granted. The fair value of share options is
calculated using a binomial option-pricing model, and the fair
value of options issued under our employee equity purchase
plans, which are described further below, is calculated using
the Black-Scholes option-pricing model, taking into
consideration the relevant terms and conditions.
The estimated weighted-average grant date fair values of share
options awarded during the first half of 2009 and 2008 were
$5.47 and $13.96 per share, respectively. The fair value was
estimated using the binomial option-pricing model with the
following weighted-average assumptions:
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