On 1 July 2012,Manchester Ltd Granted 50 000 Share Options

On 1 July 2012,Manchester Ltd granted 50 000 share options to its Chief Executive Officer with an exercise price of $40 per share,conditional upon the entity achieving the following non-market vesting conditions:
$$\begin{array} { | l | l | } \hline \text { Year ending 30 June } & { \text { Condition } } \\\hline 2013 & \text { lf earnings have increased by } > 12 \% \\\hline 2014 & \begin{array} { l } \text { If earnings have increased by } > 10 \% \text { averaged across } \\\text { the 2 year period }\end{array} \\\hline 2015 & \begin{array} { l } \text { If earnings have increased by at least } 8 \% \text { averaged } \\\text { across the 3 year period }\end{array} \\\hline\end{array}$$
Earnings information available follows:

In accordance with AASB 2,when will this share option vest?

A) 1 July 2012
B) 30 June 2013
C) 30 June 2014
D) 30 June 2015

Correct Answer:

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