KUWAIT ENERGY plc GROUP
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the year ended 31 December 2012
F-109
25.
SHARE BASED PAYMENTS (CONTINUED)
Year ended
31 December 2012
Year ended
31 December 2011
Number
Fair value
Number
Fair value
000’s
USD 000’s
000’s
USD 000’s
Outstanding at beginning of the year
858
2,449
618
1,696
Granted during the year
-
-
514
1,485
Forfeited during the year
(47)
(134)
(42)
(118)
Vesting / issued during the year
(811)
(2,315)
(232)
(614)
Outstanding at the end of the year
-
-
858
2,449
25.
EARNINGS PER SHARE
a) Basic earnings per share
The earnings and weighted average number of shares used in the calculation of basic earnings per share are
as follows:
2012
2011
USD 000’s
USD 000’s
Profit for the year
44,964
34,763
Shares
Shares
Weighted average number of shares for the purposes of basic earnings
per share (thousand)
319,515
312,340
Basic earnings per share (cents)
14.1
11.1
b)
Diluted earnings per share
The earnings used in the calculation of diluted earnings per share are as follows:
2012
2011
USD 000’s
USD 000’s
Earnings used in the calculation of diluted earnings per share
44,964
34,763
The weighted average number of ordinary shares for the purposes of diluted earnings per share reconciles to
the weighted average number of ordinary shares used in the calculation of basic earnings per share as
follows:
Shares
Shares
Weighted average number of ordinary shares used in the calculation of
basic earnings per share (thousand)
319,515
312,340
Shares deemed to be issued for no consideration in respect of:
Employee awards (thousand)
-
858
Weighted average number of ordinary shares used in the calculation of
diluted earnings per share (thousand)
319,515
313,198
Diluted earnings per share (cents)
14.1
11.1
The impact of the convertible loans, disclosed in note 21, on dilutive earnings per share is not included in the
calculation above as the number of shares that could be exercised is dependent on certain future events.
