22. SHARE-BASED COMPENSATION (CONTINUED):  The following table summarizes information about the Share Option Plan as of September 29, 2012: The grant date fair value was measured based on the Black-Scholes option pricing model. Expected volatility is  estimated by considering historic average share price volatility.The inputs used in the measurement of the fair values  of the share-based payment plans approved for granting this year are the following:  As at September 28, 2013 and September 29, 2012, all of the options outstanding are held by key management  personnel (see note 28).  The fair values were marked-to-market on a quarterly basis until the approval of the shareholders, which occurred on  January 30, 2013. (In thousands of dollars except as noted and per share amounts) Notes to CoNsolidated FiNaNCial statemeNts Outstanding Outstanding number of  Options  Options  Options  number of  Weighted Exercise  options at  granted  exercised  forfeited  options at  average  Number of price  October 1,  during  during  during  September 29,  remaining  options per option  2011  the period  the period  the period  2012  life  exercisable $ 3.61  150,000  –  100,000  –  50,000  3.17  50,000 $ 5.61 – 230,000 – – 230,000 9.46 – Fair value at grant date  $  63 Share price at grant date  $ 6.07 Exercise price  $ 5.61 Expected volatility (weighted average volatility)  10.547 to 16.896% Option life (expected weighted average life)  3.17 to 5.17 years Expected dividends  6% Weighted average risk-free interest rate (based on government bonds)  1.274% to 1.521% 93 Annual Report 2013