Page 297 - ACCESS BANK ANNUAL REPORTS_eBook

Group December 2017 December 2016
Number Weighted Share Number Weighted Share
Description of shares of Shares Price per of Shares Price per
Share - Naira Share - Naira

(i) Shares allocated to staff at start of the year; 503,879,845 5.90 209,554,491 7.56
(ii) Shares allocated during the year 161,489,590 9.51 349,775,330 5.19
(iii) Forfeited during the year; (52,308,223) 4.97 (14,057,608) 5.20
(iv) Exercised during the year; (3,935,409) 6.22 (41,392,368) 9.76
(v) Shares allocated to staff at end of the year; 609,125,803 6.94 503,879,845 5.01

(vi) Shares under the scheme at the end of the year 646,955,092 5.80 552,268,754 5.21
Naira (‘000) Price per Naira (‘000) Price per
Share - Naira Share - Naira
Share based expense recognised during the year 1,170,693 6.94 1,061,070 5.01

Outstanding allocated shares to staff at the end of the year have the following maturity dates

Vesting year Expiry date Shares
Outstanding allocated shares for the 2016 - 2018 vesting year 2016 - 2018 31 Dec 2018 374,555,488
Outstanding allocated shares for the 2017 - 2019 vesting year 2017 - 2019 31 Dec 2019 172,425,880
Outstanding allocated shares for the 2017 - 2024 vesting year 2017 - 2024 16 Jan 2024 1,800,361
Outstanding allocated shares for the 2018 - 2025 vesting year 2018 - 2025 16 Jan 2025 12,446,084
Outstanding allocated shares for the 2019 - 2026 vesting year 2019 - 2026 17 Feb 2026 25,593,301
Outstanding allocated shares for the 2020 - 2027 vesting year 2020 - 2027 7 Mar 2027 22,304,690
609,125,804

Bank December 2017 December 2016
Number Weighted Share Number Weighted Share
Description of shares of Shares Price per of Shares Price per
Share - Naira Share - Naira
(i) Shares allocated to staff at start of the year; 470,756,837 5.93 202,485,483 7.56

(ii) Shares allocated during the year 132,468,162 10.00 323,721,330 5.19
(iii) Forfeited during the year; (52,308,223) 5.14 (14,057,608) 5.20
(iv) Exercised during the year; (3,935,409) 6.19 (41,392,368) 9.76
(v) Shares allocated to staff at end of the year; 546,981,368 7.25 470,756,837 5.76

(vi) Shares under the scheme at the end of the year 583,799,951 5.93 519,145,746 5.93

Naira (‘000) Price per Naira (‘000) Price per
Share - Naira Share - Naira
Share based expense recognised during the year 1,023,860 7.25 884,777 5.76

Outstanding allocated shares to staff at the end of the year have the following maturity dates
Vesting year Expiry date Shares
Outstanding allocated shares for the 2016 - 2018 vesting year 2016 - 2018 31 Dec 2018 374,555,488
Outstanding allocated shares for the 2017 - 2019 vesting year
2017 - 2019 31 Dec 2019 172,425,880
546,981,368
The weighted average remaining contractual life of the outstanding allocated shares is :

Group Group Bank Bank
December December December December
2017 2016 2017 2016
Years Years Years Years
Weighted average contractual life of remaining shares 1.70 1.64 1.32 1.63

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Annual Report & Accounts 2017