Cellmid 2017 Annual Report 53
For information relating to the Cellmid Limited and controlled entities employee option plan, including details of options issued,
exercised and lapsed during the financial year and the options outstanding at year end, refer to Note 29 Share based payments.
For information relating to share options issued to key management personnel during the financial year, refer to the
remuneration report.
(c) Capital risk management
The Group’s objectives when managing capital are to safeguard its ability to continue as a going concern, so that it can provide returns
for shareholders and benefits for other stakeholders and to maintain an optimum capital structure to reduce the cost of capital.
The Group looks to raise capital when an opportunity to invest in a business or company is seen as value adding relative to the
current parent entity’s share price at the time of the investment. The Group is not actively pursuing additional investments in
the short term as it continues to integrate and grow its existing businesses in order to maximise synergies.
19. RESERVES
2017 2016
$ $
At the beginning of the year 330,954,732 301,054,732
Options issued - November 2016 2,000,000 -
Options issued - June 2017 1,000,000 -
Option exercised - March 2017 (3,971,962) -
Option exercised - October 2016 (32,394,541) -
Options lapsed - October 2016 (258,148,229) -
Options lapsed - June 2017 (5,000,000) -
Options issued - September 2015 - 18,000,000
Options issued - November 2015 - 12,500,000
Options lapsed - November 2015 - (100,000)
Options lapsed - June 2016 - (500,000)
At the end of the year 34,440,000 330,954,732
Consolidated
2017 2016
$ $
Share based payment reserve
Balance at the beginning of the year 2,036,900 1,860,777
Share based payment expense 16,107 176,123
Balance at the end of the year 2,053,007 2,036,900
General reserve
Balance at the beginning of the year (79,864) (131,941)
Transfer of Equity value of 2016 loan repaid (52,077) -
Equity value of loan - net of transaction costs 150,199 52,077
Balance at the end of the year 18,258 (79,864)
Foreign currency translation reserve
Balance at the beginning of the year 585,763 124,421
Foreign exchange movements (279,381) 461,342
Balance at the end of the year 306,382 585,763
Total reserves 2,377,647 2,542,799
Consolidated