NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS  (CONTINUED) For the year ended 30 June 2014 The expected life of the options is based on historical data and is not  necessarily indicative of exercise patterns that may occur. The expected  volatility reflects the assumption that the historical volatility is indicative of  future trends, which may also not necessarily be the actual outcome. The  resulting fair values per option for Mr. Burke were $0.73, $0.74 and $0.75  for Tranches 1, 2 and 3 respectively. These grants have been amortised over the vesting periods resulting in an  increase in employee benefits expense of $810,948 for the 2014 financial  year (2013: $475,460). There have been no allotments to KMP under any share based payment  plan during the year ended 30 June 2014 (2013: November 2012 ESP  allotment to Ms. J.E. Raffe and the issue of the CEO’s 2012 options  described above). The number of shares in the Company during the financial year in which the  KMP of the Company have a relevant interest, including their personally- related entities, are set out in the Remuneration Report. 25 SHARE BASED PAYMENT PLANS  (continued) (b) Share based Long Term Incentive grants  (continued) (iii) 2012 Option Plan over ordinary shares to the entity’s CEO  (“2012 OP”)  (continued) The fair value of each option has been estimated on the date of grant using  the Black Scholes option-pricing model with the following assumptions: – Expected volatility: 35%; – Expected yield: 6%; – Risk-free interest rate: 2.75%; and – Expected life of options: 3, 4 and 5 years ended 1 March 2016, 2017 and  2018 with expiry at 1 March 2019. (iv) Holdings of Executive Directors and Senior Managers (v) Number and weighted average exercise prices (“WAEP”) and movements of Options & ‘In Substance Options’ during the year (vi) The outstanding balance as at 30 June 2014 is represented by: 26 REMUNERATION OF AUDITORS 2014 Number 2014 WAEP – $ 2013 Number 2013 WAEP – $ Outstanding at Beginning of Year 10,712,400 3.43 11,007,436 2.96 Granted during the Year – – 5,830,000 3.75 Forfeited/lapsed during the Year (75,000) 3.37 (396,137) 2.00 Exercised during the Year (1,106,990) 2.22 (5,728,899) 1.92 Expired during the year – – – – Outstanding at the end of the Year 9,530,410 3.47 10,712,400 3.43 Exercisable at the end of the Year 1,935,410 3.02 2,972,400 3.07 Legacy loans over 1993 equity linked performance plan for 193,050 ‘in substance options’ with an issue price of $2.63 each. Executive Share Plan and Loan Facility: 4,837,360 ‘in substance options’ over ordinary shares in the Company with issue prices ranging from $2.35 to $3.92. Option Plan for CEO: 4,500,000 options over ordinary shares in the Company exercisable at $3.51 each with an expiry date of 1 March 2019. There have been no material transactions which significantly affect the financial or operational position of the Group since the end of the financial year. 64 VILLAGE ROADSHOW LIMITED 2014  $ 2013  $ The auditor of VRL is Ernst & Young (Australia). Aggregate remuneration received or due and receivable  by Ernst & Young, directly or indirectly from the VRL group, in connection with – Ernst & Young (Australia) – An audit or review of the financial report of VRL and any other entity in the VRL group 1,361,000 1,311,550 Other services in relation to VRL and any other entity in the VRL group: Tax 192,967 159,522 Advisory/Corporate Finance 204,755 40,500 Assurance related 27,240 36,800 1,785,962 1,548,372 Auditors other than Ernst & Young (Australia) – An audit or review of the financial report of any other entity in the VRL group 19,636 16,838 Other services in relation to any entity in the VRL group: Tax 117,430 164,732 Advisory/Corporate Finance 50,000 5,681 Assurance related 6,914 – 193,980 187,251 1,979,942 1,735,623 27 EVENTS SUBSEQUENT TO REPORTING DATE CLOSE FILE X