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Share Based Payment | 12 Months Ended
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Dec. 31, 2017
Disclosure of terms and conditions of share-based payment arrangement [abstract] |
Share Based Payment | # 13. Share Based Payment Share based payment comprise the following:
Year 2017 | Number of common shares | Number of preferred shares | Share premium | Retained earnings
Non-executive directors payment(1) | 20,937 | - | 30 | -
Balance at December 31, 2017 | 20,937 | - | 30 | -
(1) These amounts relate to the shares issued in 2017, not to the shares approved for issuance for the year.
Year 2016 | Number of common shares | Number of preferred shares | Share premium | Retained earnings
Non-executive directors payment | 47,897 | - | 50 | -
Balance at December 31, 2016 | 47,897 | - | 50 | -
Year 2015 | Number of common shares | Number of preferred shares | Share premium | Retained earnings
Non-executive directors payment | 18,372 | - | 60 | -
Balance at December 31, 2015 | 18,372 | - | 60 | -
For the year ended December 31, 2017: Non-executive director’s payments: Refers to the common shares issued or accrued during the year to our non-executive directors pursuant to their letters of appointment. For the year ended December 31, 2016: Non-executive director’s payments: Refers to the common shares issued or accrued during the year to our non-executive directors pursuant to their letters of appointment. Series A Preferred shares: Upon the former Chief Executive Officer’s resignation in July 2016, the 2,567 series A preferred shares, granted to him on April 20, 2012, were redeemed. As of December 31, 2016 there were no series A preferred shares outstanding. For the year ended December 31, 2015: Non-executive director’s payments: Refers to the common shares issued or accrued during the year to our non-executive directors pursuant to their letters of appointment.

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