ANNUAL REPORT 2011 31 There were no loans outstanding at the reporting date to directors or executives. As at the date of this report, the total number of unissued ordinary shares in Perseus under option was 8,435,000  as follows: These options do not entitle the holder to participate in any share issue of Perseus or any other body corporate. There are no options to subscribe for shares in any controlled entity. No other options have been issued.  During or since the end of the financial year, Perseus issued 7,585,000 ordinary shares as a result of the exercise  of options as follows: No amounts were unpaid on these shares. Number of shares issued  Issue price of each share  3,200,000 $1.50 1,000,000 $1.00 600,000 $1.00 1,800,000 $0.60 750,000 $2.13 235,000 $0.65 Shares issued on exercise of options SHARES UNDER OPTION LOANS TO DIRECTORS AND EXECUTIVES Type of Security  Number  Exercise Price  Issue Date  Expiry Date Unlisted Options  1,050,000  $2.13  15 January 2010  14 January 2012 Unlisted Options  1,035,000  $0.65  23 January 2009  23 January 2012 Unlisted Options  400,000  $1.80  15 October 2009  31 March 2012 Unlisted Options  600,000  $1.30  27 November 2009  31 March 2012 Unlisted Options  400,000  $2.45  29 July 2010  29 July 2012 Unlisted Options  160,000  $3.00  15 October 2010  14 October 2012 Unlisted Options  280,000  $3.45  15 October 2010  14 October 2012 Unlisted Options  1,330,000  $2.13  27 June 2010  16 June 2013 Unlisted Options  450,000  $3.00  7 October 2010  6 October 2013 Unlisted Options  340,000  $3.20  4 November 2010  3 November 2013 Unlisted Options  2,390,000  $3.00  15 June 2011  15 June 2014