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Equity (Tables)
12 Months Ended
Jun. 30, 2018
Disclosure Of Classes Of Share Capital [Abstract]  
Schedule of Share Capital

(i) Share capital

 

 

As of June 30,

 

 

2018

 

 

2017

 

 

2016

 

 

2018

 

 

2017

 

 

2016

 

 

Shares No.

 

 

(U.S. dollars, in thousands)

 

Contributed equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(i)     Share capital

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ordinary shares(1)

 

482,639,654

 

 

 

428,221,398

 

 

 

381,373,137

 

 

 

889,481

 

 

 

830,425

 

 

 

770,272

 

Less: Treasury Shares

 

(3,500,000

)

 

 

(3,500,000

)

 

 

(3,500,000

)

 

 

 

 

 

 

 

 

 

Total Contributed Equity

 

479,139,654

 

 

 

424,721,398

 

 

 

377,873,137

 

 

 

889,481

 

 

 

830,425

 

 

 

770,272

 

(1)

As of June 30, 2018, total ordinary shares include 2,000,000 unpaid shares issued to Kentgrove Capital on January 19, 2018.

Summary of Movements in Ordinary Share Capital

(ii) Movements in ordinary share capital

 

 

 

As of June 30,

 

 

As of June 30,

 

 

 

2018

 

 

2017

 

 

2016

 

 

2018

 

 

2017

 

 

2016

 

 

 

Shares No.

 

 

(U.S. dollars, in thousands)

 

Opening balance

 

 

428,221,398

 

 

 

381,373,137

 

 

 

336,997,729

 

 

 

830,425

 

 

 

770,272

 

 

 

709,191

 

Issues of ordinary shares during the period

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercise of share options(1)

 

 

289,245

 

 

 

272,579

 

 

 

422,903

 

 

 

116

 

 

 

149

 

 

 

268

 

Share issue for Nasdaq IPO

 

 

 

 

 

 

 

 

42,675,295

 

 

 

 

 

 

 

 

 

68,280

 

Consideration for available-for-sale financial

   assets

 

 

 

 

 

 

 

 

1,277,210

 

 

 

 

 

 

 

 

 

1,495

 

Share based compensation for services rendered

 

 

540,051

 

 

 

280,911

 

 

 

 

 

 

662

 

 

 

240

 

 

 

 

Payment for contingent consideration

 

 

6,029,545

 

 

 

 

 

 

 

 

 

10,000

 

 

 

 

 

 

 

Entitlement offer to existing eligible shareholders

 

 

36,191,982

 

 

 

 

 

 

 

 

 

40,449

 

 

 

 

 

 

 

Placement of shares under an equity facility

   agreement(2)

 

 

2,000,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Placement of shares under a share placement

   agreement

 

 

 

 

 

46,294,771

 

 

 

 

 

 

 

 

 

61,710

 

 

 

 

Placement of shares under a license

   agreement

 

 

892,857

 

 

 

 

 

 

 

 

 

1,000

 

 

 

 

 

 

 

Transaction costs arising on share issue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2,869

)

 

 

(1,959

)

 

 

(9,096

)

 

 

 

45,943,680

 

 

 

46,848,261

 

 

 

44,375,408

 

 

 

49,358

 

 

 

60,140

 

 

 

60,947

 

Unissued ordinary shares during the period

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Placement of shares under a share placement

   agreement(3)

 

 

8,474,576

 

 

 

 

 

 

 

 

 

10,000

 

 

 

 

 

 

 

Transaction costs arising on share issue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(340

)

 

 

 

 

 

 

 

 

 

8,474,576

 

 

 

 

 

 

 

 

 

9,660

 

 

 

 

 

 

 

Total contributions of equity during the period

 

 

54,418,256

 

 

 

46,848,261

 

 

 

44,375,408

 

 

 

59,018

 

 

 

60,140

 

 

 

60,947

 

Share options reserve transferred to equity on

   exercise of options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

38

 

 

 

13

 

 

 

134

 

Ending balance

 

 

482,639,654

 

 

 

428,221,398

 

 

 

381,373,137

 

 

 

889,481

 

 

 

830,425

 

 

 

770,272

 

 

 

(1)

Options are issued to employees, directors and consultants in accordance with the Mesoblast Employee Share Options Plan (“ESOP”). The shares issued and share capital received upon the exercise of options are recorded above.

(2)

These shares were issued to Kentgrove Capital on January 19, 2018 in accordance with contractual obligations to maintain Mesoblast’s existing established equity facility.

(3)

These shares were issued to NovaQuest on July 10, 2018, under a placement agreement entered into prior to June 30, 2018 pursuant to which NovaQuest purchased US$10.0 million of Mesoblast common shares.

Summary of Reserves

(i) Reserves

 

 

As at June 30,

 

(in U.S. dollars, in thousands)

2018

 

 

2017

 

Share-based payments reserve

 

75,974

 

 

 

69,919

 

Investment revaluation reserve

 

21

 

 

 

(303

)

Foreign currency translation reserve

 

(39,276

)

 

 

(38,373

)

 

 

36,719

 

 

 

31,243

 

 

Summary of Reconciliation of Reserves

(ii) Reconciliation of reserves

 

(in U.S. dollars, in thousands)

As at June 30,

 

Share-based payments reserve

2018

 

 

2017

 

Opening balance

 

69,919

 

 

 

64,999

 

Transfer to ordinary shares on exercise of options

 

(38

)

 

 

(13

)

Share option expense for the year

 

5,959

 

 

 

5,036

 

Reclassification of modified options to/(from) liability

 

134

 

 

 

(103

)

Closing Balance

 

75,974

 

 

 

69,919

 

 

 

 

 

 

 

 

 

Investment Revaluation Reserve

 

 

 

 

 

 

 

Opening balance

 

(303

)

 

 

(334

)

Changes in the fair value of available-for-sale financial assets

 

324

 

 

 

31

 

Closing Balance

 

21

 

 

 

(303

)

 

 

 

 

 

 

 

 

Foreign currency translation reserve

 

 

 

 

 

 

 

Opening balance

 

(38,373

)

 

 

(38,689

)

Currency (loss)/gain on translation of foreign operations

   net assets

 

(903

)

 

 

316

 

Closing Balance

 

(39,276

)

 

 

(38,373

)