Share-based compensation plans (Tables) (Class A common shares)

12 Months Ended

Dec. 31, 2013

Share options | 2000 and 2004 stock option plans

Share-based compensation plans

Schedule of share option transactions during the period

Details of share option transactions under the 2000 and 2004 stock option plans are as follows:

	Number of shares subject to options		Weighted average exercise price $	Weighted average remaining contractual life in years	Aggregate intrinsic value $’000
Outstanding — January 1, 2012	538,850		23.05
Granted	—		—
Exercised	(4,206	)	5.89
Forfeited, cancelled or expired	(57,194	)	21.09
Outstanding — December 31, 2012	477,450		23.44
Granted	—		—
Exercised	(77,294	)	5.89
Forfeited, cancelled or expired	(113,356	)	19.03
Outstanding — December 31, 2013	286,800		29.91	3.5	807
Exercisable — December 31, 2013	286,800		29.91	3.5	807

Schedule of options outstanding

The options outstanding under the 2000 and 2004 plans at December 31, 2013 were as follows:

Exercise prices $	Outstanding at 12/31/2013	Exercisable at 12/31/2013	Remaining contractual lives	Exercise prices for outstanding options $	Exercise prices for exercisable options $
5.89	86,400	86,400	4.9	5.89	5.89
14.70	24,500	24,500	0.6	14.70	14.70
28.40	15,000	15,000	1.7	28.40	28.40
28.50	13,000	13,000	1.5	28.50	28.50
34.88	3,200	3,200	2.2	34.88	34.88
34.90	7,600	7,600	2.6	34.90	34.90
35.85	15,450	15,450	4.7	35.85	35.85
36.50	19,350	19,350	2.5	36.50	36.50
42.87	7,000	7,000	2.9	42.87	42.87
46.08	13,150	13,150	4.4	46.08	46.08
51.90	11,550	11,550	4.2	51.90	51.90
52.51	6,750	6,750	3.2	52.51	52.51
52.51	46,350	46,350	3.7	52.51	52.51
52.59	8,250	8,250	3.5	52.59	52.59
59.23	9,250	9,250	3.9	59.23	59.23
	286,800	286,800

Share options | 2009 share award and incentive plan

Share-based compensation plans

Schedule of share option transactions during the period

Transactions relating to share options under the 2009 plan have been as follows:

	Number of shares subject to options		Weighted average exercise price $	Weighted average remaining contractual life in years	Aggregate intrinsic value $’000
Outstanding — January 1, 2012	2,535,600		9.35
Granted	811,450		10.09
Exercised	(29,477	)	8.44
Forfeited, cancelled or expired	(364,223	)	9.55
Outstanding — December 31, 2012	2,953,350		9.54
Granted	756,650		13.26
Exercised	(236,322	)	8.77
Forfeited, cancelled or expired	(702,178	)	8.57
Outstanding — December 31, 2013	2,771,500		10.67	8.3	12,309
Exercisable — December 31, 2013	526,750		9.79	6.4	7,959

Schedule of options outstanding

The options outstanding under the 2009 plan at December 31, 2013 were as follows:

Exercise prices $	Outstanding at 12/31/2013	Exercisable at 12/31/2013	Remaining contractual lives	Exercise prices for outstanding options $	Exercise prices for exercisable options $
8.38	76,500	76,500	5.4	8.38	8.38
7.71	5,000	5,000	5.5	7.71	7.71
8.91	98,200	98,200	5.9	8.91	8.91
9.93	5,000	5,000	6.1	9.93	9.93
8.37	117,400	117,400	6.5	8.37	8.37
11.44	224,650	224,650	6.9	11.44	11.44
11.69	251,500	—	7.4	11.69	—
8.06	520,150	—	7.9	8.06	—
9.95	31,700	—	8.2	9.95	—
8.42	283,200	—	8.5	8.42	—
11.32	401,550	—	8.9	11.32	—
9.95	31,700	—	9.1	9.95	—
11.74	289,000	—	9.4	11.74	—
14.51	435,950	—	9.9	14.51	—
	2,771,500	526,750

Schedule of assumptions used to determine estimated fair value of stock options

Estimates of the fair value of the share options on the grant date using the Black-Scholes options pricing model were based on the following assumptions:

Year ended December 31,	2013	2012	2011
Expected share price volatility	50%-60%	58%-60%	56%-58%
Risk-free interest rate	1.30%-1.74%	1.03%-1.69%	0.97%-1.40%
Expected annual dividends per share	$—	$—	$—
Expected life of share options	4.5-8 years	8 years	5 years

Performance shares | 2007 performance share plan

Share-based compensation plans

Schedule of awards transactions during the period

The status of the awards as of December 31, 2013 and 2012 and changes during the years then ended are presented as follows:

	Number of shares subject to awards		Weighted average exercise price $	Aggregate intrinsic value $’000
Outstanding — January 1, 2012	172,229		0.01
Granted	—		—
Vested and issued	(108,802	)	0.01
Forfeited, cancelled or expired	(63,427	)	0.01
Outstanding — December 31, 2012	—		—
Granted	—		—
Vested and issued	—		—
Forfeited, cancelled or expired	—		—
Outstanding — December 31, 2013	—		—	—

Stock appreciation rights | 2007 stock appreciation rights plan

Share-based compensation plans

Schedule of assumptions used to determine estimated fair value of awards

Estimates of fair values of the awards were made using the Black-Scholes valuation model based on the following assumptions:

	2013		2012			2011
Expected share price volatility	42%		47%			51%-59%
Risk-free interest rate	0.11%		0.16		%	0.28%-0.45%
Expected annual dividends per share	$	—	$	—		$	—
Expected life of awards	8 months		11 months			1 year

Deferred compensation | 2009 share award and incentive plan

Share-based compensation plans

Schedule of awards transactions during the period

Transactions relating to deferred shares and restricted shares under the 2009 plan have been as follows:

	Number of shares subject to awards		Weighted average exercise price $	Aggregate intrinsic value $'000
Outstanding — January 1, 2012	485,020		0.01
Granted	1,042,900		0.01
Vested and issued	(130,134	)	0.01
Forfeited, cancelled or expired	(54,137	)	0.01
Outstanding — December 31, 2012	1,343,649		0.01
Granted	618,170		0.01
Vested and issued	(344,388	)	0.01
Forfeited, cancelled or expired	(135,604	)	0.01
Outstanding — December 31, 2013	1,481,827		0.01	17,323

Deferred and restricted shares without performance criteria | 2009 share award and incentive plan

Share-based compensation plans

Schedule of assumptions used to determine estimated fair value of awards

Estimates of fair values of deferred shares and restricted shares without performance criteria on the grant date using the Black-Scholes options pricing model were based on the following assumptions:

Year ended December 31,	2013	2012	2011
Expected share price volatility	33%-51%	52%-67%	37%-82%
Risk-free interest rate	0.04%-0.67%	0.10%-0.40%	0.13%-1.20%
Expected annual dividends per share	$—	$—	$—
Expected life of awards	18 days - 3 years	2 months - 3 years	4 months - 3 years

Deferred shares with performance criteria | 2009 share award and incentive plan

Share-based compensation plans

Schedule of assumptions used to determine estimated fair value of awards

Estimates of fair values of deferred shares with performance and market conditions were made using the Monte Carlo valuation model based on the following assumptions:

Year ended December 31,	2013	2012	2011
Expected share price volatility	52%	59%	88%
Risk-free interest rate	0.26%-0.39%	0.47%	0.97%-1.40%
Expected annual dividends per share	$—	$—	$—
Expected life of awards	2-3 years	3 years	3 years