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Share-based payments (Tables)

12 Months Ended

Jun. 30, 2018

Text block1 [abstract]

Summary of share-based payments

The options in tranches 4 - 10 in the table below have been issued to employees under the ESOP. In total, A$165,222 (2017: A$475,189) of employee remuneration expense (all of which related to equity-settled share-based payment transactions) has been included in profit or loss and credited to share-based payment reserve.

2018

Tranche		Grant date				Expiry date				Exercise Price (post consol)				Balance at the start of the year				Granted				Share Consolidation				Forfeited on cessation of employment				Balance at the end of the year
										A$
1			04-03-2015				16-12-2019			A$	1.50				466,470				—				(419,823	)			—				46,647
2			04-03-2015				18-12-2019			A$	1.50				199,521				—				(179,569	)			—				199,521
3			24-06-2015				30-06-2020			A$	4.00				5,190,000				—				(4,671,000	)			—				519,000
4			15-10-2015				16-11-2020			A$	2.20				3,633,334				—				—				(3,396,67	)			236,667
5			18-03-2016				01-02-2021			A$	1.99				3,000,000				—				(2,700,000	)			—				300,000
6			18-03-2016				01-02-2021			A$	1.99				2,000,000				—				(1,800,000	)			—				200,000
7			18-03-2016				01-02-2021			A$	2.61				2,500,000				—				(2,250,000	)			—				250,000
8			05-09-2016				05-09-2021			A$	1.63				2,000,000				—				(1,800,000	)			(150,000	)			50,000
9			12-10-2016				17-10-2021			A$	1.56				620,000				—				(558,000	)			—				62,000
10			31-10-2016				01-11-2021			A$	1.38				500,000				—				(450,000	)			(37,500	)			12,500
11			21-11-2016				23-11-2021			A$	1.38				2,000,000				—				(1,800,000	)			(150,000	)			50,000
12			07-08-2017				07-08-2022			A$	0.67				—				224,000				—				—				224,000
13			05-02-2018				05-02-2023			A$	0.78				—				440,000				—				—				440,000
															22,109,325				664,000				(16,628,392	)			(3,734,167	)			2,410,766
Weighted average exercise price														A$	0.244			A$	0.740			A$	0.000			A$	2.140			A$	2.120

* Options from Tranche 1 to Tranche 6, Tranches 8,10 and 11 listed above were vested and exercisable at the end of the period.

Options from Tranche 9 listed above include 1/4 vested options at the end of the period.

All remaining options are expected to vest in future periods. No options have expired during the financial year.

The weighted average remaining contractual life of options outstanding at the June 30, 2018 is 2.97 years.

2017

Tranche		Grant date				Expiry date				Exercise price				Balance at the start of the year				Granted				Exercised				Forfeited				Balance at the end of the year
										A$
1			04-03-2015				16-12-2019			A$	0.150				466,470				—				—				—				466,470
2			04-03-2015				18-12-2019			A$	0.150				199,521				—				—				—				199,521
3			24-06-2015				30-06-2020			A$	0.400				5,190,000				—				—				—				5,190,000
4			15-10-2015				16-11-2020			A$	0.220				5,200,008				—				—				(1,566,674	)			3,633,334
5			18-03-2016				01-02-2021			A$	0.199				3,000,000				—				—				—				3,000,000
6			18-03-2016				01-02-2021			A$	0.199				2,000,000				—				—				—				2,000,000
7			18-03-2016				01-02-2021			A$	0.261				2,500,000				—				—				—				2,500,000
8			05-09-2016				05-09-2021			A$	0.163				—				2,000,000				—				—				2,000,000
9			12-10-2016				17-10-2021			A$	0.156				—				620,000				—				—				620,000
10			31-10-2016				01-11-2021			A$	0.138				—				500,000				—				—				500,000
11			21-11-2016				23-11-2021			A$	0.138				—				2,000,000				—				—				2,000,000
															18,555,999				5,120,000				—				(1,566,674	)			22,109,325
Weighted average exercise price														A$	0.2680			A$	0.1500			A$	0.0000			A$	0.2200			A$	0.244

* Options from Tranche 1 to Tranche 3 listed above were vested and exercisable at the end of the period.

Options from Tranche 4 listed above include 1/3 vested options at the end of the period.

Options from Tranche 5 listed above include 1/4 vested and exercisable options at the end of the period.

All remaining options are expected to vest in future periods. No options have expired during the year.

The weighted average remaining contractual life of options outstanding at the June 30, 2017 is 3.55 years.

Summary of valuation for each tranche of options

Based on the above assumptions, the table below sets out the valuation for each tranche of options:

Grant date		Expiry date				Share price at Grant Date				Exercise price				Volatility (%)				Remaining Option Life				Risk free Rate				Fair value per option
						A$				A$																A$
04/03/2015			16/12/2019			A$	0.180			A$	1.500				120.00	%			2.46	%			2.07	%		A$	1.500
04/03/2015			18/12/2019			A$	0.180			A$	1.500				120.00	%			2.47	%			2.07	%		A$	1.500
24/06/2015			30/06/2020			A$	0.245			A$	4.000				150.00	%			3.00	%			2.02	%		A$	2.170
15/10/2015			16/11/2020			A$	0.140			A$	2.200				158.11	%			3.38	%			2.04	%		A$	1.280
18/03/2016			01/02/2021			A$	0.115			A$	1.990				130.00	%			3.59	%			2.00	%		A$	0.810
18/03/2016			01/02/2021			A$	0.115			A$	1.990				130.00	%			3.59	%			2.00	%		A$	0.860
18/03/2016			01/02/2021			A$	0.115			A$	2.610				130.00	%			3.59	%			2.00	%		A$	0.870
05/09/2016			05/09/2021			A$	0.105			A$	1.630				122.00	%			4.19	%			1.60	%		A$	0.840
12/10/2016			17/10/2021			A$	0.098			A$	1.560				122.00	%			4.30	%			1.89	%		A$	0.780
31/10/2016			01/11/2021			A$	0.090			A$	1.380				122.00	%			4.34	%			1.87	%		A$	0.720
21/11/2016			23/11/2021			A$	0.092			A$	1.380				122.00	%			4.40	%			2.10	%		A$	0.730
07/08/2017			07/08/2022			A$	0.430			A$	0.670				74.50	%			4.00	%			1.95	%		A$	0.206
05/02/2018			05/02/2023			A$	0.500			A$	0.780				74.50	%			3.00	%			1.95	%		A$	0.200

X

- Definition

The disclosure of information about indirect, by reference to the fair value of the equity instruments granted, measurement of the fair value of goods or services received as consideration for the entity's share options.

+ References

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-Paragraph 47
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-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=2&date=2017-03-01&anchor=para_47_a&doctype=Standard
-URIDate 2017-03-09

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X

- Definition

The disclosure of the number and weighted average exercise prices of share options. [Refer: Weighted average [member]]

+ References

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-Name IFRS
-Number 2
-IssueDate 2017-01-01
-Paragraph 45
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=2&date=2017-03-01&anchor=para_45_b&doctype=Standard
-URIDate 2017-03-09

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