FAIRFAX MEDIA  LIMITED  2013  111 NOTEs TO THE FINANCIAL sTATEMENTs  33. DIRECTOR AND ExECUTIVE DIsCLOsUREs (CONTINUED) (B) RIGHTS OVER SHARE HOLDINGS OF DIRECTORS AND KEY MANAGEMENT PERSONNEL FAIRFAx MEDIA LIMITED AND CONTROLLED ENTITIES FOR THE PERIOD ENDED 30 JUNE 2013 Details of equity-based incentive schemes are included in section 6.2 of the remuneration report. 2012 OPENING  BALANCE 26 JUNE 2011 GRANTED AS REMUNERATION NET CHANGE OTHER *** CLOSING  BALANCE 24 JUNE 2012 directors G Hywood  –   1,514,491   –   1,514,491  key management personnel B Cassell *  599,889   274,077   (87,983)  785,983  G Hambly  504,754   221,030   (7,835)  717,949  A Lam-Po-Tang **  –   –   –   –  C Maher **  149,261   129,081   (24,635)  253,707  M Williams **  120,567   93,716   (15,177)  199,106  Total  1,374,471   2,232,395   (135,630)  3,471,236  2013 OPENING  BALANCE 24 JUNE 2012 GRANTED AS REMUNERATION NET CHANGE OTHER *** CLOSING  BALANCE 30 JUNE 2013 directors G Hywood  1,514,491   8,888,889   –   10,403,380  key management personnel B Cassell *  785,983   –   (121,057)  664,926  G Hambly  717,949   2,083,333   (110,969)  2,690,313  D Housego  –   3,666,667   –   3,666,667  A Williams  –   1,837,124   –   1,837,124  Total  3,018,423   16,476,013   (232,026)  19,262,410  *  In the case of retired Directors, the closing balance represents the number of shares at the date the Director retired from the Board.  For KMP, the closing balance represents the number of shares at the date of resignation. NJ Fairfax resigned from the Board on  29 November 2011 and R Savage on 30 June 2012. B Cassell ceased in the position of CFO on 3 December 2012, on which date  he was appointed Project Director and no longer considered KMP. ** Following the structural changes within the Group this person no longer met the definition of a KMP since 25 June 2012. *** Net change movements include forfeitures. (C) LOANS TO KEY MANAGEMENT PERSONNEL (i)  AGGReGATeS FoR key MAnAGeMenT PeRSonnel There were no loans made to Directors of Fairfax Media Limited or to other key management personnel of the Group, including  their personally related parties, during the financial period ended 30 June 2013 (2012: Nil). There are no outstanding loans for the financial years ended 30 June 2013 and 24 June 2012. No options over unissued shares in the Company were in existence at the beginning of the financial year, or granted during,  or since the end of the financial year. (ii) indiViduAlS WiTH loAnS duRinG THe FinAnCiAl yeAR (D) OPTIONS