Ann: Financial Results Update, Appendices 3B and 3Ys, page-5

I was sort of right need to be careful what term you use. I should not have used cancel for what they did.

Well let me give you a bit more background. The treatment i was thinking of was the cancellation. But to do what they did the forfeited the options. Nice did not think of that back then.

Cancellation
What is a cancellation?
A cancellation is when an existing share based payment arrangement is terminated. It may be replaced by an alternative agreement and the appropriate accounting treatment for the Page 3 cancellation depends on whether a replacement scheme is identified and other factors such as payouts. AASB 2 accounting treatment No replacement agreement issued Cancellation of a share based payment agreement is accounted for as an acceleration of any unvested portion of the share-based payment on cancellation date, i.e. any remaining portion of the share based payment expense not yet charged to the income statement is charged in full immediately.

Forfeiture
What is forfeiture?
A forfeiture occurs when a vesting condition, other than market conditions, are not met (e.g. 3 year service condition but employee resigned after 2 years). Failure to meet market conditions is not forfeiture since this has already been factored in when determining the grant date fair value. AASB 2 accounting treatment The cumulative expenses from prior periods will need to be reversed which means that no expense will remain in the financial records in relation to the forfeited agreements.