Cellmid 2017 Annual Report 63
29. SHARE BASED PAYMENTS
Accounting Policy
The Group operates an employee share ownership plan. Share based payments to employees are measured at the fair value
of the instruments issued and amortised over the vesting periods. Share based payments to non employees are measured
at the fair value of goods or services received or the fair value of the equity instruments issued, if it is determined the fair
value of the goods or services cannot be reliably measured, and are recorded at the date the goods or services are received.
The corresponding amount is recorded to the option reserve. The Group measures the cost of equity-settled transactions
with employees by reference to the fair value of the equity instruments at the date at which they are granted. The fair value
is determined by using Black-Scholes model taking into account the terms and conditions upon which the instruments were
granted. The accounting estimates and assumptions relating to equity-settled share-based payments would have no impact on
the carrying amounts of assets and liabilities within the next annual reporting period but may impact profit or loss and equity.
The number of shares and options expected to vest is reviewed and adjusted at the end of each reporting period such that the
amount recognised for services received as consideration for the equity instruments granted is based on the number of equity
instruments that eventually vest.
The Cellmid Limited and Controlled Entities Employee Incentive Plan is designed as an incentive for eligible employees of the
Group. Under the Plan, participants are granted options which only vest if certain conditions are met.
A summary of the Company options granted under the Plan is as follows:
The weighted average exercise price during the financial year was $0.052 ($0.046 in 2016). The weighted average remaining
contractual life of the options outstanding at the end of the financial year was 1.28 years (1.83 years in 2016).
3,000,000 options were granted during the 2017 financial year (2016: 30,500,000) and net share based payment expense for
the period was $16,107* (2016: $176,123).
*The amount relates to $89,307 share based payment and write back of $73,200 previously amortised.
Expiry Exercise Balance at Granted Exercised Forfeited/ Balance at Exercisable
Date Price start of the expired the end of the at end of
year year year
15/11/2016 0.03 3,971,962 - (3,971,962) - - -
15/06/2017 0.032 5,000,000 - - (5,000,000) - -
14/08/2017 0.034 1,440,000 - - - 1,440,000 1,440,000
1/08/2018 0.04 4,000,000 - - - 4,000,000 4,000,000
1/08/2018 0.05 4,000,000 - - - 4,000,000 4,000,000
1/08/2018 0.06 10,000,000 - - - 10,000,000 10,000,000
19/11/2018 0.031 500,000 - - - 500,000 500,000
19/11/2018 0.06 11,500,000 - - - 11,500,000 11,500,000
1/07/2020 0.03 - 1,000,000 - - 1,000,000 1,000,000
31/10/2019 0.03 - 2,000,000 - - 2,000,000 2,000,000
40,411,962 3,000,000 (3,971,962) (5,000,000) 34,440,000 34,440,000
Other options on issue
A summary of the Company options not issued under the plan is as follows:
Expiry Exercise Balance at Granted Exercised Forfeited/ Balance at Exercisable
Date Price start of the expired the end of the at end of
year year year
23/10/2016 0.034 290,542,770 - (32,394,541) (258,148,229) - -
290,542,770 - (32,394,541) (258,148,229) - -