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SHARE CAPITAL, OPTION PLANS AND SHARE-BASED PAYMENTS (Tables)
3 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Share-based Compensation Costs
Total share-based compensation expense for the periods indicated below is detailed as follows: 
 Three Months Ended September 30,
 20202019
Stock options$3,294 $2,010 
Performance Share Units (issued under LTIP)2,484 1,400 
Restricted Share Units (issued under LTIP)2,002 1,660 
Restricted Share Units (other)1,986 10 
Deferred Share Units (directors)738 751 
Employee Share Purchase Plan1,232 1,060 
Total share-based compensation expense$11,736 $6,891 
Summary of Option Activity
A summary of activity under our stock option plans for the three months ended September 30, 2020 is as follows:
OptionsWeighted-
Average Exercise
Price
Weighted-
Average
Remaining
Contractual Term
(years)
Aggregate Intrinsic Value
($’000s)
Outstanding at June 30, 20207,429,537 $36.18 4.78$49,574 
Granted2,645,959 45.81 
Exercised(310,521)27.71 
Forfeited or expired(69,125)41.22 
Outstanding at September 30, 20209,695,850 $39.04 5.25$43,382 
Exercisable at September 30, 20202,489,132 $31.85 3.18$25,850 
Schedule of Weighted-Average Fair Value of Options and Weighted-Average Assumptions Used For the periods indicated, the weighted-average fair value of options and weighted-average assumptions estimated under the Black-Scholes option-pricing model were as follows:
 Three Months Ended September 30,
 20202019
Weighted–average fair value of options granted$8.50 $6.41 
Weighted-average assumptions used:
Expected volatility26.12 %22.11 %
Risk–free interest rate0.20 %1.68 %
Expected dividend yield1.52 %1.68 %
Expected life (in years)4.724.11
Forfeiture rate (based on historical rates)%%
Average exercise share price$45.81 $38.76 
For the periods indicated, the weighted-average fair value of performance options and weighted-average assumptions estimated under the Monte Carlo valuation method were as follows:
Three Months Ended September 30,
 20202019
Weighted–average fair value of options granted$10.18 N/A
Derived service period (in years)1.80N/A
Weighted-average assumptions used:
Expected volatility28.00 %N/A
Risk–free interest rate0.42 %N/A
Expected dividend yield1.70 %N/A
Average exercise share price$45.81 N/A