pre_text: 34. Share-based payment continued 3.8 million share incentives were granted during 2019 (2018 2.7 million). The fair value of share incentives has been estimated as at the date of grant using the Black-Scholes binomial model. The following table gives the assumptions made in arriving at the share-based payment charge and the fair value: The expected volatility was determined by calculating the historical volatility of the Company’s share price over the previous two years which management considers to be the period which is likely to be most representative of future volatility. The risk free rate is calculated by reference to UK government bonds.
table: 2019 2018
table: Weighted average share price (pence) 163.1 112.9
table: Weighted average exercise price (pence) 0.0 0.0
table: Weighted average fair value (pence) 141.1 95.1
table: Expected volatility (%) 31.6–32.8 30.6
table: Option life (years):
table: – Performance Shares 3.0 3.0
table: – Options and SARs 10.0 10.0
table: Risk free rate (%) 0.48-0.72 0.88
table: Dividend yield (%) 2.5–3.0 3.0
question: Analyse this data from a financial earnings document. What was the change in the Weighted average share price (pence)?