Movements in Ordinary share capital


Details	Date	Shares		Issue price		$
Balance	1 July 2019		62,166,673				36,641,519
Share placement	1 November 2019		10,000,000	$	0.400		4,000,000
Share placement	16 April 2020		18,041,667	$	0.400		7,216,667
Issued under the Share Purchase Plan	11 May 2020		4,390,010	$	0.400		1,756,004
Issued on conversion of options			19	$	4.000		76
Share issue transaction costs			—	$	0.000		(833,052	)


Balance	30 June 2020		94,598,369				48,781,214
Issued on conversion of options	28 August 2020		25,000	$	0.493		12,313
Institutional placement under ANREO	12 October 2020		20,525,820	$	0.800		16,420,656
Retail placement under ANREO	26 October 2020		11,017,075	$	0.800		8,813,660
Issued on conversion of options	2 March 2021		391,500	$	0.635		248,661
Issued on conversion of options	15 March 2021		25,000	$	0.493		12,313
Share placement	28 April 2021		3,037,580	$	1.407		4,274,633
Issued on achievement of a milestone	21 May 2021		2,391,865	$	1.421		3,400,000
Less: share issue transaction costs			—	$	0.000		(1,673,388	)


Balance	30 June 2021		132,012,209				80,290,062

Ordinary shares

Ordinary shares entitle the holder to participate in dividends and the proceeds on the winding up of the company in proportion to the number of and amounts paid on the shares held. The fully paid ordinary shares have no par value and the company does not have a limited amount of authorised capital.

On a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote.

buy-back

There is no current

on-market

buy-back.

Capital risk management

The consolidated entity’s objectives when managing capital are to safeguard its ability to continue as a going concern, so that it can provide returns for shareholders and benefits for other stakeholders and to maintain an optimum capital structure to reduce the cost of capital.

Capital is regarded as total equity, as recognised in the statement of financial position, plus net debt. Net debt is calculated as total borrowings less cash and cash equivalents.

The capital structure of the consolidated entity consists of cash and cash equivalents and equity attributable to equity holders. The overall strategy of the consolidated entity is to continue its drug development programs, which depends on raising sufficient funds, through a variety of sources including issuing of additional share capital, as may be required from time to time.

The capital risk management policy remains unchanged from the prior year.