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Share-based payments (Tables)

12 Months Ended

Jun. 30, 2019

Text block [abstract]

Summary of share-based payments

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 1.43 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.

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				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 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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-Number 2
-IssueDate 2018-01-01
-Paragraph 47
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=2&date=2018-03-01&anchor=para_47_a&doctype=Standard
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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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-Number 2
-IssueDate 2018-01-01
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-URIDate 2018-03-16

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