XML 119 R38.htm IDEA: XBRL DOCUMENT
v3.19.3

Share-based payments | 12 Months Ended
--- | ---
Jun. 30, 2019
Text block [abstract] |
Share-based payments | Note 34. Share-based payments The options in tranches 1 - 3 in the table below have been issued as consideration for services rendered in relation to capital raising conducted during a previous year by the consolidated entity. The options in tranches 4 - 14 in the table below have been issued to employees under the ESOP. In total, A$246,387 (2018: A$165.222) of employee remuneration expense (all of which related to equity-settled share-based payment transactions) has been included in profit or loss during the year and credited to share-based payment reserve. 2019
Grant date |  | Expiry date |  |  | A$ Exercise price |  |  | Balance at the start of the year |  |  | Granted |  |  | Exercised |  |  | Forfeited on cessation of employment |  |  | Balance at the end of the year |
04/03/2015 |  |  | 16/12/2019 |  |  | $ | 1.500 |  |  |  | 46,647 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 46,647 |
04/03/2015 |  |  | 18/12/2019 |  |  | $ | 1.500 |  |  |  | 19,952 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 19,952 |
24/06/2015 |  |  | 30/06/2020 |  |  | $ | 4.000 |  |  |  | 519,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 519,000 |
15/11/2015 |  |  | 16/11/2020 |  |  | $ | 2.200 |  |  |  | 236,667 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 236,667 |
18/03/2016 |  |  | 01/02/2021 |  |  | $ | 1.990 |  |  |  | 300,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 300,000 |
18/03/2016 |  |  | 01/02/2021 |  |  | $ | 1.990 |  |  |  | 200,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 200,000 |
18/03/2016 |  |  | 01/02/2021 |  |  | $ | 2.610 |  |  |  | 250,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 250,000 |
05/09/2016 |  |  | 05/09/2021 |  |  | $ | 1.630 |  |  |  | 50,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 50,000 |
12/10/2016 |  |  | 17/10/2021 |  |  | $ | 1.560 |  |  |  | 62,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 62,000 |
31/10/2016 |  |  | 01/11/2021 |  |  | $ | 1.380 |  |  |  | 12,500 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 12,500 |
21/11/2016 |  |  | 23/11/2021 |  |  | $ | 1.380 |  |  |  | 50,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 50,000 |
07/08/2017 |  |  | 07/08/2022 |  |  | $ | 0.670 |  |  |  | 224,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 224,000 |
05/02/2018 |  |  | 05/02/2023 |  |  | $ | 0.780 |  |  |  | 440,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 440,000 |
04/01/2019 |  |  | 04/01/2024 |  |  | $ | 0.492 |  |  |  | — |  |  |  | 250,000 |  |  |  | — |  |  |  | — |  |  |  | 250,000 |
|  |  |  |  |  |  |  |  |  |  | 2,410,766 |  |  |  | 250,000 |  |  |  | — |  |  |  | — |  |  |  | 2,660,766 |
Weighted average exercise price |  |  | A$ | 2.120 |  |  | A$ | 0.490 |  |  | A$ | 0.000 |  |  | A$ | 0.000 |  |  | A$ | 1.960 |
At the end of the period the following options were vested and exercisable: - Options from Tranche 1 to Tranche 6, Tranches 8, 10 and 11 were vested and exercisable - Options in Tranches 7 and 14 were unvested - Options from Tranche 9 and 13 were vested and exercisable as to 50% - Options from Tranche 12 were vested and exercisable as to 25% 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 30 June 2019 is 2.36 years. 2018
Grant date |  | Expiry date |  |  | A$ Exercise price |  |  | Balance at the start of the year |  |  | Granted |  |  | Exercised |  |  | Forfeited on cessation of employment |  |  | Balance at the end of the year |
04/03/2015 |  |  | 16/12/2019 |  |  | $ | 1.500 |  |  |  | 466,470 |  |  |  | — |  |  |  | (419,823 | ) |  |  | — |  |  |  | 46,647 |
04/03/2015 |  |  | 18/12/2019 |  |  | $ | 1.500 |  |  |  | 199,521 |  |  |  | — |  |  |  | (179,569 | ) |  |  | — |  |  |  | 19,952 |
24/06/2015 |  |  | 30/06/2020 |  |  | $ | 4.000 |  |  |  | 5,190,000 |  |  |  | — |  |  |  | (4,671,000 | ) |  |  | — |  |  |  | 519,000 |
15/11/2015 |  |  | 16/11/2020 |  |  | $ | 2.200 |  |  |  | 3,633,334 |  |  |  | — |  |  |  | — |  |  |  | (3,396,667 | ) |  |  | 236,667 |
18/03/2016 |  |  | 01/02/2021 |  |  | $ | 1.990 |  |  |  | 3,000,000 |  |  |  | — |  |  |  | (2,700,000 | ) |  |  | — |  |  |  | 300,000 |
18/03/2016 |  |  | 01/02/2021 |  |  | $ | 1.990 |  |  |  | 2,000,000 |  |  |  | — |  |  |  | (1,800,000 | ) |  |  | — |  |  |  | 200,000 |
18/03/2016 |  |  | 01/02/2021 |  |  | $ | 2.610 |  |  |  | 2,500,000 |  |  |  | — |  |  |  | (2,250,000 | ) |  |  | — |  |  |  | 250,000 |
05/09/2016 |  |  | 05/09/2021 |  |  | $ | 1.630 |  |  |  | 2,000,000 |  |  |  | — |  |  |  | (1,800,000 | ) |  |  | (150,000 | ) |  |  | 50,000 |
12/10/2016 |  |  | 17/10/2021 |  |  | $ | 1.560 |  |  |  | 620,000 |  |  |  | — |  |  |  | (558,000 | ) |  |  | — |  |  |  | 62,000 |
31/10/2016 |  |  | 01/11/2021 |  |  | $ | 1.380 |  |  |  | 500,000 |  |  |  | — |  |  |  | (450,000 | ) |  |  | (37,500 | ) |  |  | 12,500 |
21/11/2016 |  |  | 23/11/2021 |  |  | $ | 1.380 |  |  |  | 2,000,000 |  |  |  | — |  |  |  | (1,800,000 | ) |  |  | (150,000 | ) |  |  | 50,000 |
07/08/2017 |  |  | 07/08/2022 |  |  | $ | 0.670 |  |  |  | — |  |  |  | 224,000 |  |  |  | — |  |  |  | — |  |  |  | 224,000 |
05/02/2018 |  |  | 05/02/2023 |  |  | $ | 0.780 |  |  |  | — |  |  |  | 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. The weighted average remaining contractual life of options outstanding at the 30 June 2018 is 2.97 years. Employee share options During the year ended 30 June 2019, 250,000 options have been issued to the employees by the consolidated entity pursuant to the Company’s Employee Share Option Plan.
• |  | Tranche 14 of 250,000 options vesting equally over 2 years in 6 monthly intervals
An option will only vest if the option holder continues to be a full-time employee with the Company or an Associated Company during the vesting period relating to the option. Conditions for an option to be exercised:
• |  | The option must have vested and a period of 1 year from the date the option was issued must have expired;
• |  | Option holder must have provided the Company with an Exercise Notice and have paid the Exercise Price for the option.
• |  | The Exercise Notice must be for the exercise of at least the Minimum Number of Options;
• |  | The Exercise Notice must have been provided to the Company and Exercise Price paid before the expiry of 5 years from the date the Option is issued.
Options Valuation In order to obtain a fair valuation of these options, the following assumptions have been made: The Black Scholes option valuation methodology has been used with the expectation that the majority of these options would be exercised towards the end of the option term. Inputs into the Black Scholes model includes the share price at grant date, exercise price, volatility, and the risk free rate of a five year Australian Government Bond on grant date. Risk-free rate and grant date For all tranches, the risk-free rate of a five-year Australian Government bond on grant date was used. Please refer to the table below for details. Options in Tranches 4 to 14 have various vesting periods and exercising conditions. These options are unlisted as at 30 June 2019. No dividends are expected to be declared or paid by the consolidated entity during the terms of the options. The underlying expected volatility was determined by reference to historical data of the Company’s shares over a period of time. No special features inherent to the options granted were incorporated into measurement of fair value. Based on the above assumptions, the table below sets out the valuation for each tranche of options:
Grant date |  | Expiry date |  |  | A$ Share price at Grant Date |  |  | Exercise price |  |  | Volatility (%) |  |  | Remaining Life (years) |  |  | Risk free Rate (%) |  |  | Fair value per option |
04/03/2015 |  |  | 16/12/2019 |  |  | $ | 0.180 |  |  | $ | 1.500 |  |  |  | 120.00 | % |  |  | 2.46 |  |  |  | 2.07 | % |  | $ | 1.500 |
04/03/2015 |  |  | 18/12/2019 |  |  | $ | 0.180 |  |  | $ | 1.500 |  |  |  | 120.00 | % |  |  | 2.47 |  |  |  | 2.07 | % |  | $ | 1.500 |
24/06/2015 |  |  | 30/06/2020 |  |  | $ | 0.245 |  |  | $ | 4.000 |  |  |  | 150.00 | % |  |  | 3.00 |  |  |  | 2.02 | % |  | $ | 2.170 |
15/10/2015 |  |  | 16/11/2020 |  |  | $ | 0.140 |  |  | $ | 2.200 |  |  |  | 158.11 | % |  |  | 3.38 |  |  |  | 2.04 | % |  | $ | 1.280 |
18/03/2016 |  |  | 01/02/2021 |  |  | $ | 0.115 |  |  | $ | 1.990 |  |  |  | 130.00 | % |  |  | 3.59 |  |  |  | 2.00 | % |  | $ | 0.810 |
18/03/2016 |  |  | 01/02/2021 |  |  | $ | 0.115 |  |  | $ | 1.990 |  |  |  | 130.00 | % |  |  | 3.59 |  |  |  | 2.00 | % |  | $ | 0.860 |
18/03/2016 |  |  | 01/02/2021 |  |  | $ | 0.115 |  |  | $ | 2.610 |  |  |  | 130.00 | % |  |  | 3.59 |  |  |  | 2.00 | % |  | $ | 0.870 |
05/09/2016 |  |  | 05/09/2021 |  |  | $ | 0.105 |  |  | $ | 1.630 |  |  |  | 122.00 | % |  |  | 4.19 |  |  |  | 1.60 | % |  | $ | 0.840 |
12/10/2016 |  |  | 17/10/2021 |  |  | $ | 0.098 |  |  | $ | 1.560 |  |  |  | 122.00 | % |  |  | 4.30 |  |  |  | 1.89 | % |  | $ | 0.780 |
31/10/2016 |  |  | 01/11/2021 |  |  | $ | 0.090 |  |  | $ | 1.380 |  |  |  | 122.00 | % |  |  | 4.34 |  |  |  | 1.87 | % |  | $ | 0.720 |
21/11/2016 |  |  | 23/11/2021 |  |  | $ | 0.092 |  |  | $ | 1.380 |  |  |  | 122.00 | % |  |  | 4.40 |  |  |  | 2.10 | % |  | $ | 0.730 |
07/08/2017 |  |  | 07/08/2022 |  |  | $ | 0.430 |  |  | $ | 0.670 |  |  |  | 74.50 | % |  |  | 4.00 |  |  |  | 1.95 | % |  | $ | 0.206 |
05/02/2018 |  |  | 05/02/2023 |  |  | $ | 0.500 |  |  | $ | 0.780 |  |  |  | 74.50 | % |  |  | 3.00 |  |  |  | 1.95 | % |  | $ | 0.200 |
04/01/2019 |  |  | 04/01/2024 |  |  | $ | 0.340 |  |  | $ | 0.492 |  |  |  | 74.50 | % |  |  | 3.00 |  |  |  | 1.95 | % |  | $ | 0.140 |

X
- Definition The entire disclosure for share-based payment arrangements. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2018-01-01 -Paragraph 44 -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=2&date=2018-03-01&anchor=para_44&doctype=Standard -URIDate 2018-03-16 + Details
Name: | ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Text block [abstract] + References No definition available. + Details
Name: | kzia_TextBlockAbstract
Namespace Prefix: | kzia_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration