Cellmid 2018 Annual Report 51
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
2018 2017
No. No.
At the beginning of the year 34,440,000 330,954,732
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 lapsed – August 2017 (1,440,000) -
Consolidation (31,350,000) -
At the end of the year 1,650,000 34,440,000
2018 2017
$ $
Share-based payments reserve
Balance at the beginning of the year 2,053,007 2,036,900
Share-based payments expense 111,490 16,107
Balance at the end of the year 2,164,497 2,053,007
General reserve
Balance at the beginning of the year 18,258 (79,864)
Transfer of Equity value of 2016 loan repaid - (52,077)
Equity value of loan - net of transaction costs - 150,199
Balance at the end of the year 18,258 18,258
Foreign currency translation reserve
Balance at the beginning of the year 306,382 585,763
Foreign exchange movements 106,223 (279,381)
Balance at the end of the year 412,605 306,382
Total reserves 2,595,360 2,377,647