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Share based compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Share-based Payment Charges

Share-based payment charges for the years ended December 31, 2021, 2020 and 2019 were as follows:

			For the Years Ended December 31,
(In $ millions)			2021			2020			2019
Share-based payment charge			0.1			0.7			3.9

Share Option, Activity

Details regarding share option issuances for the year ended December 31, 2021 and 2019 are as follows:

Grant Date			Number of Share Options Issued			Exercise Price			Share Price Grant Date
August 2021			5,150,000			2.00			1.40
March 2019			230,000			35.00			28.40

The table below sets forth the number of share options and weighted average grant date fair value price for the year ended December 31, 2021:

			Number			Weighted Avg. Fair Value Price (in $)
Outstanding at January 1, 2021			885,000			1.91
Granted during the year			5,150,000			0.51
Forfeited during the year			(105,500)			1.24
Expired during the year			(259,500)			3.19
Outstanding at December 31, 2021			5,670,000			0.64

The table below sets forth the number of share options granted and weighted average exercise price during the years ended December 31, 2021, 2020 and 2019:

			2021						2020						2019
			Number			Weighted Avg. Exercise Price (in $)			Number			Weighted Avg. Exercise Price (in $)			Number			Weighted Avg. Exercise Price (in $)
Outstanding at January 1			885,000			41.86			1,178,750			41.84			1,307,500			44.00
Granted during the year			5,150,000			2.00			—			—			230,000			35.00
Forfeited during the year			(105,500)			23.21			(293,750)			41.78			(358,750)			44.68
Expired during the year			(259,500)			20.32			—			—			—			—
Outstanding at December 31			5,670,000			5.66			885,000			41.86			1,178,750			41.84
Exercisable at December 31			411,244			41.75			572,000			40.54			405,500			40.08

Stock Options, Valuation Assumptions

The fair value of equity settled options are measured at grant date using the Black Scholes option pricing model using the following inputs:

			2021			2019
Expected future volatility			57		%	32		%
Expected dividend rate			—		%	—		%
Risk-free rate			0.5% to 0.8%			2		%
Expected life after vesting			2 years			2 years

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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