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Share-Based Payments (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract]  
Summary of Awards Outstanding

The number of awards outstanding as at December 31, 2021, is as follows:

 

 

NUMBER
OF AWARDS

 

 

WEIGHTED AVERAGE
EXERCISE PRICE PER
SHARE IN USD

 

Awards outstanding as at January 1, 2021

 

 

745,000

 

 

 

3.52

 

Granted

 

 

4,186,770

 

 

 

8.18

 

Forfeited

 

 

(20,000

)

 

 

(3.52

)

Awards outstanding as at December 31, 2021

 

 

4,911,770

 

 

 

7.49

 

The number of awards outstanding as at December 31, 2020, is as follows:

 

 

NUMBER
OF AWARDS

 

 

WEIGHTED AVERAGE
EXERCISE PRICE PER
SHARE IN USD

 

Awards outstanding as at January 1, 2020

 

 

—

 

 

 

—

 

Granted

 

 

745,000

 

 

 

3.52

 

Awards outstanding as at December 31, 2020

 

 

745,000

 

 

 

3.52

 

Summary of Weighted Average Assumptions used in Black-Scholes Option Pricing Model to Determine Fair Value of Other Options and Warrants Granted

Weighted average assumptions used in the Black-Scholes option pricing model to determine the fair value of other options and warrants granted during the year ended December 31 are as follows:

 

 

YEAR ENDED
DECEMBER 31,

 

 

 

2021

 

 

2020

 

Exercise price, USD

 

 

8.18

 

 

 

3.52

 

Share price, USD

 

 

8.18

 

 

 

4.22

 

Risk free interest rate

 

 

1.20

%

 

 

0.41

%

Expected volatility

 

 

55

%

 

 

55

%

Expected option term

 

6.56 years

 

 

5.16 years

 

Dividend yield

 

 

0

%

 

 

0

%

Schedule of Share-based Payment Expense

Share-based Payment Expense

 

 

 

YEAR ENDED DECEMBER 31,

 

 

 

2021

 

 

2020

 

Equity classified share options and warrants expense

 

 

1,286

 

 

 

232

 

Liability classified warrants' expense

 

 

709

 

 

 

139

 

Share-based payment expense

 

 

1,995

 

 

 

371

 

 

Summary of Share-based Payment Reserve

Share-based Payment Reserve

 

 

YEAR ENDED
DECEMBER 31,

 

 

 

2021

 

 

2020

 

Balance at January 1

 

 

220

 

 

 

—

 

Forfeiture and reclass to Other Reserves

 

 

(8

)

 

 

—

 

Modification of warrant accounting

 

 

151

 

 

 

—

 

Expense for year

 

 

2,003

 

 

 

371

 

Liability classified warrants

 

 

—

 

 

 

(151

)

Share-based payment reserve at December 31

 

 

2,366

 

 

 

220