b'Notes to the consolidated financial statements continuedFor the year ended 31 March 20206. Share-based paymentsThe Group operates share option schemes for Executive Directors and all employees of the Group. Further details are set out on pages 66 to 68 of the Remuneration Report.Total options existing over Ordinary shares as at 31 March 2020 are summarised below:Date Date Number of ExerciseScheme of grant of expiry share options priceApproved share option scheme 8 December 2014 7 December 202450.00p31 July 2015 30 July 202570.00p11 August 2015 10 August 202569.00p27 July 2016 26 July 202651.25p24 April 2017 23 April 2027 416,296 40.05p24 July 2017 23 July 2027 55,000 36.00p15 December 2017 14 December 2027 228,000 37.25p28 August 2018 27 August 2028 911,445 30.80p31 July 2019 30 July 2029 2,248,444 33.50p28 January 2020 27 January 2030 1,814,568 24.30pUnapproved share option scheme 8 December 2014 7 December 202450.00p31 July 2015 30 July 202557.50p11 August 2015 10 August 202557.50p27 July 2016 26 July 202651.25p24 April 2017 23 April 2027 283,704 40.05p24 July 2017 23 July 2027 1,650,000 36.00p15 December 2017 14 December 202737.25p28 August 2018 27 August 2028 3,285,555 30.80p31 July 2019 30 July 2029 1,209,556 33.50p28 January 2020 27 January 2030 3,597,572 24.30p15,700,140Details of the share options outstanding as at 31 March 2020 and 31 March 2019 are as follows:Year ended 31 March 2020 Year ended 31 March 2019Weighted WeightedNumber of average Number of averageshare exercise share exerciseoptions price options priceShare options outstanding as at 1 April 13,413,000 41.99p 11,702,000 43.70pGranted during the year 9,040,140 27.99p 4,629,000 30.80pForfeited during the year (1,108,000) 36.03p (2,168,000) 51.22pExercised during the yearExpired during the year (5,645,000) 50.81p (750,000) 56.50pShare options outstanding as at 31 March 15,700,140 30.22p 13,413,000 41.99pThere were no options exercised during the financial year. The options outstanding as at 31 March 2020 had a weighted average exercise price of 30.22 pence and a weighted average remaining contractual life of two years.88 Mercia Asset Management PLCAnnual Report and Accounts 2020'