Cellmid 2018 Annual Report 61
29. SHARE-BASED PAYMENTS
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 in the share-based payments 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 $1.06 ($1.04 in 2017). The weighted average remaining
contractual life of the options outstanding at the end of the ﬁnancial year was 0.33 years (1.28 years in 2017).
No options were granted during the 2018 ﬁnancial year (2017: 3,000,000) and net share-based payment expense for the
period was $111,490 (2017: $16,107).
Expiry Exercise Balance at Granted Exercised Expired Consolidation Balance at Exercisable
Date Price start of the end of the at end of
year year year
14/08/2017 0.68 1,440,000 - - (1,440,000) - -
1/08/2018 0.80 4,000,000 - - - (3,800,000) 200,000 200,000
1/08/2018 1.00 4,000,000 - - - (3,800,000) 200,000 200,000
1/08/2018 1.20 10,000,000 - - - (9,500,000) 500,000 500,000
19/11/2018 0.62 500,000 - - - (475,000) 25,000 25,000
19/11/2018 1.20 11,500,000 - - - (10,925,000) 575,000 575,000
31/10/2019 0.60 2,000,000 - - - (1,900,000) 100,000 100,000
1/07/2020 0.60 1,000,000 - - - (950,000) 50,000 50,000
34,440,000 - - (1,440,000) (31,350,000) 1,650,000 1,650,000
Other options on issue
No other options on issue.