Directors’ Report Ordinary Shares Options Summary of Shares, Options and Warrants on Issue – 30 June 2014 Unissued Shares Shares issued as a result of the exercise of Options Significant changes in the state of affairs Employees Share Option Plan (ESOP) Significant events after the reporting date  Likely developments and expected results Benitec Biopharma Ltd  Annual Report 2014 Page 9 Grant Date  Expiry Date  Exercise Price  Number 13 July 2010  19 August 2014  $0.510  260,000  17 November 2011 17 November 2016 $1.250  1,800,000  7 February 2012  7 February 2017  $1.250  168,000  18 July 2012  18 July 2017  $1.250  400,000  16 November 2012 16 November 2017 $1.250  400,000  22 August 2013  22 August 2018  $1.250  2,080,000  15 May 14  15 May 19  $1.500  180,000  Total 5,288,000 Employee Share Option Plan  5,288,000 Directors’ Options  3,320,000 Warrants 245,078 Unlisted Options  14,467,095 Total 23,320,173 Grant Date  Expiry Date  Exercise Price  Number 13 July 2010  19 August 2014  $0.5700  120,000 26 September 2011 26 September 2016 $1.2500  1,600,000 26 September 2011 26 September 2016 $1.2500  1,200,000  10 November 2013 18 May 2018  $0.6250  400,000  Total 3,320,000 There were no ESOP options which lapsed during the financial year. Non-Executive Director Options on issue were: 67,867,428 ordinary shares were issued during the year through  private placements at prices ranging from $0.275 to $1.07 per share.  In addition, 955,002 ordinary shares were released from escrow to the  Tacere vendors during the year at $0.375 per share. At the date of this Directors’ Report, the Company has a total of  23,320,173 options to acquire ordinary shares in the Company.  Unless otherwise noted, all options are unlisted, restricted and are  categorised as follows: The Company had 114,898,992 listed ordinary shares and no listed  options on issue at reporting date. There are 14,467,095 unlisted  options and 245,078 warrants on issue, details of which are included  in note 16 (b) to the financial statements. As at the date of this report, there were 23,320,173 options over  unissued ordinary shares, details of which are included in note 16 (b)  to the financial statements. Option holders do not have the right, by  virtue of the option, to participate in any share issue of the Company  or any related body corporate or in the interest issue of any other  registered scheme related to the Company. During the year 547,088 shares were issued on the exercise of options  issued by the Company (2013: nil).  Further details of the unissued shares under option are provided in  Note 16(b) Options issued to employees are made through the Employee Share  Option Plan (ESOP). The expiry dates for options granted under the  ESOP are set out below. The expiry date for options held by any  employee who has resigned will be determined by the Board or will  expire within twelve months of resignation. The Board has the power  to adjust, amend and cancel the ESOP. Non-Executive Directors are  excluded from the ESOP. Options on issue under the Employees Share Option Plan are: During the year the Company commenced a US based Phase I/IIa clinical  trial in Hepatitis C and arranged net equity funding of $39.6 million.  These and other important events in the year are considered in the  ‘Operation of Operations’ section of this Directors Report. Other than  this, there were no significant changes in the Company’s state of affairs. No other matters or circumstances have arisen since 30 June 2014  which have significantly affected or may significantly affect the  operations of the Group, the results of those operations or the state of  affairs of the Group, in subsequent financial years.  Benitec will continue to progress programs through the clinic, seek  commercialisation opportunities with big Pharma and others for  the Company’s unique Intellectual Property; develop its therapeutic  pipeline and pre-clinical programs, protect and build the Company’s IP  estate and secure adequate funding.  Benitec Biopharma Limited is listed on the Australian Securities  Exchange (ASX) and is subject to the continuous disclosure  requirements of the ASX Listing Rules which require timely disclosure  of information which may affect security values or influence  investment decisions, and information in which security holders,  investors and ASX have a legitimate interest. •  $15,748,255 representing 14,717,995 ordinary shares, with  6,623,099 options. The placement was made without shareholder  approval on 28 February 2014; and was ratified by shareholders’ at  a general meeting on 10 April 2014; and •  $15,748,259 representing 14,717,999 ordinary shares, with  6,623,105 options. The placement was made after receiving  shareholder approval at a general meeting on 10 April 2014.