Table:
| Grant Date | Vesting Date | Expiry Date | Exercise Price $ | No. of Options at Beg. of Year | Options Exercised or Lapsed | No. of Options at End of Year |
| --- | --- | --- | --- | --- | --- | --- |
| 2 Jul 2013 | 2 Jul 2016 | 30 Sept 2018 1 | 0.92 | 75,000 | (75,000) | - |
| 2 Jul 2014 | 2 Jul 2017 | 2 Jul 2019 | 1.30 | 470,000 | (205,000) | 265,000 |
| 2 Jul 2015 | 2 Jul 2018 | 2 Jul 2020 | 2.67 | 1,000,000 | (75,000) | 925,000 |
| 22 Dec 2016 | 31 Aug 2019 2 | 22 Dec 2021 | 3.59 | 1,323,730 | - | 1,323,730 |
| Total |  |  |  | 2,868,730 | (355,000) | 2,513,730 |
| Weighted average exercise price |  |  |  |  | $1.51 | $3.01 |
Paragraphs:
16. SHARE-BASED PAYMENTS continued
c. Employee Share Option Plan
The Employee Share Option Plan (the Option Plan) was approved by shareholders at the Company’s AGM on 9 November 2001 and reaffirmed at the AGM on 24 November 2011.The Employee Share Option Plan (the Option Plan) was approved by shareholders at the Company’s AGM on 9 November 2001 and reaffirmed at the AGM on 24 November 2011. Under the Option Plan, awards are made to eligible executives and other management personnel who have an impact on the Group’s performance. Option Plan awards are delivered in the form of options over shares, which vest over a period of three years subject to meeting performance measures and continuous employment with the Company. Each option is to subscribe for one ordinary share when the option is exercised and, when issued, the shares will rank equally with other shares.
Unless the terms on which an option was offered specified otherwise, an option may be exercised at any time after the vesting date on satisfaction of the relevant performance criteria.
Options issued under the Employee Share Option Plan are valued on the same basis as those issued to KMP, which is described in Note 16(d).
There were no new options issued under the Option Plan during the 30 June 2019 and 30 June 2018 financial years, as the Option Plan was replaced with the Rights Plan as described in Note 16(b).
Movement of options during the year ended 30 June 2019:
1. The original expiry date for this tranche of options was 2 July 2018. However, due to extraordinary circumstances, the remaining 75,000 options could not be exercised during the prior financial year. Therefore, the Board had exercised its discretion during the year to extend the expiry date for the remaining options to 30 September 2018.
2. Options associated with an EPS hurdle are not expected to vest on 31 August 2019 as the minimum performance target will not be met. Options associated with a TSR hurdle will vest on 31 August 2019 in accordance with accounting standards. However, because the minimum target was not met, these options will be restricted and unexercisable. Refer to Section 3b) of the audited Remuneration Report for further details.
Question:
Why were there no new options issued under the Option Plan during the 30 June 2019 and 30 June 2018 financial years?
Answer: as the Option Plan was replaced with the Rights Plan