Notes to the Consolidated Financial Statements for the Year Ended 30 June 2014 Foreign currency risk Credit risk NOTE 20: FINANCIAL INSTRUMENTS Fair values NOTE 21: SHARE BASED PAYMENTS  Benitec Biopharma Limited Employees Share Option Plan (ESOP):  Description of plan Share Options granted during the year  The Group has transactional currency exposures. Such exposure arises from licensing fees and royalties as well as expenditure by the Group in  currencies other than the unit’s measurement currency. With the exception of unrealised movements on intercompany loans, foreign currency  income and expenditure accounts for less than 15% of the Groups transactions and therefore management have assessed that movements in  foreign exchange would not materially impact the financial statements.  Credit risk arises from the financial assets of the Group, which comprise cash and cash equivalents, and trade and other receivables. The Group’s  exposure to credit risk arises from potential counter party payment default, with a maximum exposure equal to the carrying amount. Exposures at  each reporting date are assessed and disclosed in the financial statements. The Group does not hold any credit derivatives to offset its credit exposure. The Group trades only with recognised, creditworthy third parties and  as such collateral is not requested. The Group does not securitise its trade and other receivables. Customers who wish to trade on credit terms are subject to credit assessment procedures which may include an assessment of their independent  credit rating, financial position, past experience and industry reputation. Receivable balances are regularly monitored. There are no significant  concentrations of credit risk within the Group. Fair values of financial assets and liabilities are equivalent to carrying values due their short term to maturity. The Group may from time to time issue employees options to acquire shares in the parent at a fixed price. Each option when exercised entitles the  option holder to one share in the Company. Options are exercisable on or before an expiry date, do not carry any voting or dividend rights and are  not transferable except on death of the option holder.  The following options were issued to executives by Benitec Biopharma Limited under its ESOP and are unlisted. Executive Grant Date  Number  Exercise Price  Expiry Date Peter French  22 August 2013  1,400,000  $1.250  22 August 2018 David Suhy  22 August 2013  200,000  $1.250  22 August 2018 Greg West  22 August 2013  280,000  $1.250  22 August 2018 Carl Stubbings  22 August 2013  200,000  $1.250  22 August 2018 Tin Mao  15 May 2014  90,000  $1.500  15 May 2019 Shin-chu Kao  15 May 2014  90,000  $1.500  15 May 2019 2,260,000 ≤ 6 months  6-12 months  1-5 years  >5 years  Total $ $ $ $ $ Financial assets  Cash and cash equivalents 23,359,199  8,000,000  -  -  31,359,199 Trade and other receivables  121,587  -  -  -  121,587 Financial Liabilities Trade and other payables  (788,169)  -  -  -  (788,169) Net Maturity  22,692,617  8,000,000  -  -  30,692,617 Benitec Biopharma Ltd  Annual Report 2014 Page 37