details of which are described in Note 18 to the financial statement s. Shares granted to the Specified Executives during the year are as f ollows, and were valued at $6.95 each, being their market value (as defined in the Income Tax Assessment Act). Granted to: Shares: Gouadain, Jacques Elie  6,216 Moore, Paul Derek  5,827 Wasow, Peter Christopher  7,770 Wilkinson, Richard John  5,827 Wood, Bruce James  5,439 Young, Jonathon Terence  8,547 (b) Includes the notional value of shares and options granted by th Company during previous financial years (and which had not vested as at 1 January 2004) which have been amortized over the relevan vesting period. All options have been valued by independent valuers using the modified Black-Scholes or Binomial option pricing model. (c) No options were granted by the Company during the year to the Dir ectors or to the Specified Executives. (6) This amount reflects the value during the current reporting period of th e 1,000,000 Restricted Shares granted to Mr J C Ellice-Flint in 2000, further details of which are described in note 18(h) to the financial statements. (d) No options or shares have been granted by the Company since th e end of the financial year. Annual Report 2004 40