Share-based Payments (Tables)

12 Months Ended

Dec. 31, 2018

Share-based Payments

Schedule of weighted average exercise prices

	31/12/2017					31/12/2018
	Number			WAEP		Number			WAEP
Outstanding at 1 January		4,374,250			2.19		4,217,000			2.26
- Granted		–			–		559,875			1.99
- Forfeited		(139,750	)		3.19		(132,500	)		2.97
- Expired		(17,500	)		0.74		(56,875	)		0.91
Outstanding at 31 December		4,217,000			2.26		4,587,500			2.20
Exercisable at 31 December		3,314,333			2.03		3,835,208			2.13

Schedule of stock options granted

Grant date/employees entitled	Number of instruments in thousands Key management personnel		Number of instruments in thousands Employees		Vesting conditions	Contractual life of options
On 10 August 2012		150,000		150,000	3 years	5 years
		60,000		230,000	4 years	5 years
		–		37,500	4 years	5 years
		75,000		75,000	3 years	5 years
		30,000		207,187	4 years	5 years
On 7 March 2013		96,000		96,000	3 years	5 years
		40,000		402,188	4 years	5 years
On 23 February 2014		240,000		240,000	3 years	5 years
		425,000		1,153,750	4 years	5 years
On 5 September 2014		25,000		120,000	4 years	5 years
On 12 November 2014		30,000		30,000	3 years	5 years
		35,000		157,500	4 years	5 years
On 12 February 2015		72,000		72,000	3 years	5 years
		59,500		340,000	4 years	5 years
On 16 October 2015		70,000		70,000	3 years	5 years
		200,000		529,500	4 years	5 years
On 15 April 2016		20,000		20,000	3 years	5 years
		20,000		142,000	4 years	5 years
On 23 February 2018		60,000		60,000	3 years	5 years
		139,000		319,000	4 years	5 years
On 31 July 2018		18,000		18,000	3 years	5 years
		36,000		117,875	4 years	5 years
Total share options		1,900,500		4,587,500

Schedule of fair value options granted

	31/12/2017		31/12/2018
Expected volatility (%)		N/A		38.9 to 49.1
Risk-free interest rate (%)		N/A		1.91 to 2.39
Expected life of share options (years)		N/A		3.25 to 6.50
Weighted average share price US$		N/A		2.58