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v3.19.1

Other liabilities (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2018
Schedule of other liabilities |
|  | 2018 |  | 2017
|  | Non- |  |  |  |  |  | Non- |  |  |  |
|  | Current |  | Current |  | Total |  | Current |  | Current |  | Total
|  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000
Payable to non-current asset suppliers |  | 99 |  | 11,648 |  | 11,747 |  | — |  | 5,411 |  | 5,411
Guarantees and deposits |  | 16 |  | — |  | 16 |  | 32 |  | 2 |  | 34
Remuneration payable |  | 55 |  | 45,705 |  | 45,760 |  | — |  | 46,667 |  | 46,667
Tax payables |  | — |  | 20,799 |  | 20,799 |  | 1,574 |  | 17,785 |  | 19,359
Contingent consideration |  | 23,119 |  | 3,103 |  | 26,222 |  | — |  | — |  | —
Other liabilities |  | 1,741 |  | 22,315 |  | 24,056 |  | 1,930 |  | 20,704 |  | 22,634
Total |  | 25,030 |  | 103,570 |  | 128,600 |  | 3,536 |  | 90,569 |  | 94,105
Schedule of tax payables |
|  | 2018 |  | 2017
|  | Non- |  |  |  |  |  | Non- |  |  |  |
|  | Current |  | Current |  | Total |  | Current |  | Current |  | Total
|  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000
VAT |  | — |  | 6,491 |  | 6,491 |  | — |  | 1,784 |  | 1,784
Accrued social security taxes payable |  | — |  | 5,001 |  | 5,001 |  | — |  | 5,095 |  | 5,095
Personal income tax withholding payable |  | — |  | 1,436 |  | 1,436 |  | — |  | 1,049 |  | 1,049
Other |  | — |  | 7,871 |  | 7,871 |  | 1,574 |  | 9,857 |  | 11,431
Total |  | — |  | 20,799 |  | 20,799 |  | 1,574 |  | 17,785 |  | 19,359
Schedule of share based payment arrangements |
|  | Performance Period |  |  |  |  |  | Fair Value at |  |  |  |
Grant Date |  | (three years ended) |  | Expiration Date |  | Exercise Price |  | Grant Date |  | 2018 |  | 2017
June 14, 2018 |  | N/A |  | June 13, 2028 |  | nil |  | $ | 9.34 |  | 129,930 |  | —
March 21, 2018 |  | December 31, 2021 |  | March 20, 2028 |  | nil |  | $ | 22.56 |  | 287,080 |  | —
June 20, 2017 |  | December 31, 2020 |  | June 20, 2027 |  | nil |  | $ | 15.90 |  | 17,342 |  | 17,342
June 1, 2017 |  | N/A |  | June 1, 2027 |  | nil |  | $ | 10.96 |  | 19,463 |  | 19,463
June 1, 2017 |  | December 31, 2020 |  | June 1, 2027 |  | nil |  | $ | 16.77 |  | 382,002 |  | 455,627
November 24, 2016 |  | December 31, 2019 |  | November 24, 2026 |  | nil |  | $ | 16.66 |  | 189,225 |  | 264,933
|  |  |  |  |  |  |  |  |  |  | 1,025,042 |  | 757,365
Schedule of performance condition of share options granted |
Vesting Conditions
30% total shareholder return (“TSR”) relative to a comparator group
30% TSR relative to S&P Global 1200 Metals and Mining Index
20% return on invested capital (“ROIC”) relative to a comparator group
20% net operating profit after tax (“NOPAT”) relative to a comparator group
Schedule of assumptions used to estimate the fair value of Ferroglobe stock option |
|  | Grant date
|  | March 21, 2018 |  | June 20, 2017 |  | June 01, 2017 |  | November 24, 2016
Fair value at grant date |  | $ | 22.56 |  |  | $ | 15.90 |  |  | $ | 16.77 |  |  | $ | 16.66 |
Grant date share price |  | $ | 15.19 |  |  | $ | 10.50 |  |  | $ | 10.96 |  |  | $ | 11.81 |
Exercise price |  |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  |  | Nil |
Expected volatility |  |  | 49.86 | % |  |  | 43.15 | % |  |  | 43.09 | % |  |  | 44.83 | %
Option life |  |  | 3.00 years |  |  | 3.00 years |  |  | 3.00 years |  |  | 3.00 years
Dividend yield |  |  | — | % |  |  | — | % |  |  | — | % |  |  | — | %
Risk-free interest rate |  |  | 2.48 | % |  |  | 1.52 | % |  |  | 1.44 | % |  |  | 1.39 | %
Remaining performance period at grant date |  |  | 2.78 |  |  |  | 2.53 |  |  |  | 2.58 |  |  |  | 2.1 |
Company TSR at grant date |  |  | 2.1 | % |  |  | (0.3) | % |  |  | 4.0 | % |  |  | 40.0 | %
Median comparator group TSR at grant date |  |  | (6.2) | % |  |  | (7.2) | % |  |  | (3.7) | % |  |  | 56.4 | %
Median index TSR at grant date |  |  | (8.4) | % |  |  | 0.6 | % |  |  | 4.8 | % |  |  | 45.7 | %
Schedule of summary of options outstanding |
|  | Number of awards
Outstanding as of December 31, 2016 |  | 264,933
Granted during the period |  | 492,432
Exercised during the period |  | —
Expired/forfeited during the period |  | —
Outstanding as of December 31, 2017 |  | 757,365
Granted during the period |  | 485,860
Exercised during the period |  | —
Expired/forfeited during the period |  | (218,183)
Outstanding as of December 31, 2018 |  | 1,025,042
Exercisable as of December 31, 2018 and December 31, 2017 |  | —
Globe Specialty Metals, Inc. |
Schedule of summary of options outstanding |
|  |  |  |  |  |  | Weighted- |  |  |
|  |  |  |  |  |  | Average |  |  |
|  |  |  | Weighted- |  | Remaining |  |  |
|  |  |  | Average |  | Contractual |  | Aggregate
|  | Number of |  | Exercise |  | Term in |  | Intrinsic
|  | Options |  | Price |  | Years |  | Value
Outstanding as of December 31, 2016 |  | 629,378 |  | $ | 14.59 |  | 1.75 |  |  | 580
Exercised during the period |  | (34,990) |  |  | 6.77 |  |  |  |  |
Expired/forfeited during the period |  | (71,027) |  |  | 14.54 |  |  |  |  |
Outstanding as of December 31, 2017 |  | 523,361 |  | $ | 15.12 |  | 0.89 |  | $ | 1,774
Exercised during the period |  | (59,980) |  |  | 5.89 |  |  |  |  |
Expired/forfeited during the period |  | (167,990) |  |  | 17.99 |  |  |  |  |
Cancelled in lieu of cash settlement |  | (191,761) |  |  | 12.54 |  |  |  |  |
Outstanding as of December 31, 2018 |  | 103,630 |  | $ | 19.40 |  | 0.44 |  | $ | —
Exercisable as of December 31, 2018 |  | 103,630 |  | $ | 19.40 |  | 0.44 |  | $ | —

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