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SHARE OPTIONS AND SHARE WARRANTS (Tables)
 12 Months Ended
Dec. 31, 2018
Disclosure of share options and share warrants [Abstract]  
Schedule of Grants of Share Options and Warrants
The number and weighted average exercise price of share options and warrants per ordinary share is as follows (as required by IFRS 2, this information relates to all grants of share options and warrants by the Group):
 
 
  
Options and
warrants
    
Weighted-
average exercise
price
US$
    
Range
US$
  
 
  
‘A’ Ordinary
Shares
    
Per ‘A’ Ordinary
Share
    
Per ‘A’ Ordinary
Share
  
Outstanding January 1, 2016
    
8,158,452
      
3.36
      
0.66 –4.47
  
Granted
    
2,160,000
      
2.39
      
1.67 –2.80
  
Exercised
    
(322,272
)
    
2.09
      
0.66 –2.65
  
Forfeited
    
(165,997
)
    
3.39
      
2.52 –3.61
  
 
                        
Outstanding at end of year
    
9,830,183
      
3.19
      
0.66 –4.47
  
 
                        
Exercisable at end of year
    
5,838,851
      
3.31
      
0.75 –4.23
  
 
                        
Outstanding January 1, 2017
    
9,830,183
      
3.19
      
0.66 –4.47
  
Granted
    
5,630,000
      
1.31
      
1.24 –1.44
  
Exercised
    
-
      
-
      
-
  
Forfeited
    
(4,732,807
)
    
3.86
      
0.75 –4.47
  
 
                        
Outstanding at end of year
    
10,727,376
      
1.92
      
1.24 –4.36
  
 
                        
Exercisable at end of year
    
3,268,707
      
2.57
      
1.66 –4.36
  
 
                        
Outstanding January 1, 2018
    
10,727,376
      
1.92
      
1.24 –4.36
  
Granted
    
720,000
      
1.07
      
0.67 –1.37
  
Exercised
    
-
      
-
      
-
  
Forfeited
    
(539,176
)
    
2.50
      
1.34 –4.23
  
 
                        
Outstanding at end of year
    
10,908,200
      
1.83
      
0.67 –4.36
  
 
                        
Exercisable at end of year
    
6,091,864
      
2.09
      
1.24 –4.36
  
 
 
  
Options and
warrants
    
Weighted-
average exercise
price
US$
    
Range
US$
  
 
  
‘ADS’ Equivalent
    
Per ‘ADS’
    
Per ‘ADS’
  
Outstanding January 1, 2016
    
2,039,613
      
13.44
      
2.63 –17.88
  
Granted
    
540,000
      
9.57
      
6.69 –11.20
  
Exercised
    
(80,568
)
    
8.35
      
2.64 –10.61
  
Forfeited
    
(41,499
)
    
13.58
      
10.08 –14.44
  
 
                        
Outstanding at end of year
    
2,457,546
      
12.76
      
2.64 –17.88
  
 
                        
Exercisable at end of year
    
1,459,713
      
13.24
      
3.00 –16.92
  
 
                        
Outstanding January 1, 2017
    
2,457,546
      
12.76
      
2.64 - 17.88
  
Granted
    
1,407,500
      
5.25
      
4.95 – 5.75
  
Exercised
    
-
      
-
      
-
  
Forfeited
    
(1,183,202
)
    
10.26
      
3.00 –17.88
  
 
                        
Outstanding at end of year
    
2,681,844
      
7.69
      
4.96–17.44
  
 
                        
Exercisable at end of year
    
817,179
      
10.29
      
6.64 –17.45
  
 
                        
Outstanding January 1, 2018
    
2,681,844
      
7.69
      
4.96 - 17.44
  
Granted
    
180,000
      
4.28
      
2.68 – 5.48
  
Exercised
    
-
      
-
      
-
  
Forfeited
    
(134,794
)
    
10.00
      
5.36 – 16.92
  
 
                        
Outstanding at end of year
    
2,727,050
      
7.32
      
2.68–17.44
  
 
                        
Exercisable at end of year
    
1,522,966
      
8.36
      
4.96 –17.44
  
Summary of Range of Prices of Stock Options
A summary of the range of prices for the Company’s stock options for the year ended December 31, 2018 follows:
 
     
Outstanding
    
Exercisable
  
Exercise price range
    
No. of
options
‘A’ ordinary
shares
    
Weighted–
average
exercise
price
    
Weighted-
average
contractual
life
remaining
(years)
    
No. of
options
‘A’ ordinary
shares
    
Weighted–
average
exercise
price
    
Weighted-
average
contractual
life
remaining
(years)
  
 
US$0.66-US$0.99
      
430,000
      
0.88
      
6.79
      
-
      
-
      
-
  
 
US$1.00-US$2.05
      
6,111,800
      
1.35
      
5.64
      
2,476,133
      
1.35
      
5.57
  
 
US$2.06- US$2.99
      
4,168,400
      
2.51
      
2.23
      
3,437,731
      
2.51
      
1.83
  
 
US$3.00 -US$4.47
      
198,000
      
4.20
      
2.97
      
178,000
      
4.20
      
2.93
  
                                                     
         
10,908,200
                      
6,091,864
                  
 
     
Outstanding
    
Exercisable
  
Exercise price range
    
No. of
options
‘ADS
equivalent’
    
Weighted–
average
exercise
price
    
Weighted-
average
contractual
life
remaining
(years)
    
No. of
options
‘ADS
equivalent’
    
Weighted–
average
exercise
price
    
Weighted-
average
contractual
life
remaining
(years)
  
 
US$2.64-US$3.96
      
107,500
      
3.52
      
6.79
      
-
      
-
      
-
  
 
US$4.00-US$8.20
      
1,527,950
      
5.40
      
5.64
      
619,033
      
5.40
      
5.57
  
 
US$8.24- US$11.96
      
1,042,100
      
10.04
      
2.23
      
859,433
      
10.04
      
1.83
  
 
US$12.00 -US$17.88
      
49,500
      
16.80
      
2.97
      
44,500
      
16.80
      
2.93
  
                                                     
         
2,727,050
                      
1,522,966
                  
 
 
The weighted-average remaining contractual life of options outstanding at December 31, 2018 was 4.33 years (2017: 5.10 years).
 
A summary of the range of prices for the Company’s stock options for the year ended December 31, 2017 follows:
 
     
Outstanding
    
Exercisable
  
Exercise price range
    
No. of
options
‘A’ ordinary
shares
    
Weighted–
average
exercise
price
    
Weighted-
average
contractual
life
remaining
(years)
    
No. of
options
‘A’ ordinary
shares
    
Weighted–
average
exercise
price
    
Weighted-
average
contractual
life
remaining
(years)
  
 
US$1.00-US$2.05
      
6,075,644
      
1.38
      
6.52
      
215,652
      
1.69
      
2.57
  
 
US$2.06- US$2.99
      
4,333,732
      
2.52
      
3.20
      
2,861,061
      
2.53
      
2.20
  
 
US$3.00 -US$4.47
      
318,000
      
4.21
      
3.95
      
192,002
      
4.21
      
3.92
  
                                                     
         
10,727,376
                      
3,268,715
                  
 
     
Outstanding
    
Exercisable
  
Exercise price range
    
No. of
options
‘ADS
equivalent’
    
Weighted–
average
exercise
price
    
Weighted-
average
contractual
life
remaining
(years)
    
No. of
options
‘ADS
equivalent’
    
Weighted–
average
exercise
price
    
Weighted-
average
contractual
life
remaining
(years)
  
 
US$4.00-US$8.20
      
1,518,911
      
5.52
      
6.52
      
53,913
      
6.76
      
2.57
  
 
US$8.24- US$11.96
      
1,083,433
      
10.08
      
3.20
      
715,265
      
10.12
      
2.20
  
 
US$12.00 -US$17.88
      
79,500
      
16.84
      
3.95
      
48,001
      
16.84
      
3.92
  
                                                     
         
2,681,844
                      
817,179
                  
 
Schedule of Fair Value of the Options Vesting Period
The fair value of the options is expensed over the vesting period of the option. US$1,369,000 was charged to the statement of operations in 2018, (2017: US$928,000), (2016: US$1,381,446) split as follows:
 
 
  
December 31,
2018
US$‘000
    
December 31,
2017
US$‘000
    
December 31,
2016
US$‘000
  
Share-based payments – cost of sales
    
34
      
35
      
32
  
Share-based payments – selling, general and administrative
    
1,335
      
893
      
1,349
  
 
                        
Total – continuing operations
    
1,369
      
928
      
1,381
  
Share-based payments – discontinued operations
    
-
      
-
      
33
  
 
                        
Total
    
1,369
      
928
      
1,414
  
Schedule of Assumption Determining Fair Value of Share Options
The estimate of the fair value of services received is measured based on a trinomial model. The following are the input assumptions used in determining the fair value of share options granted in 2018, 2017 and 2016:
 
 
  
Key
management
personnel
    
Other
employees
    
Key
management
personnel
    
Other
employees
    
Key
management
personnel
    
Other
employees
  
 
  
2018
    
2018
    
2017
    
2017
    
2016
    
2016
  
Weighted average fair value at measurement date per ‘A’ share / (per ADS)
    
-
    
$ 
US0.41 /(US$1.64
)
  
$ 
US0.43 /(US$1.72
)
  
$ 
US0.44 /(US$1.76
)
  
$ 
US0.58 /(US$2.32
)
  
$ 
US0.57 /(US$2.28
)
                                                 
Total ‘A’ share options granted / (ADS’s equivalent)
    
-
      
720,000 /(180,000
)
    
5,150,000/(1,287,500
)
    
480,000 /(120,000
)
    
1,700,000/(425,000
)
    
460,000 /(115,000
)
                                               
Weighted average share price per ‘A’ share / (per ADS)
    
-
    
$ 
US1.07 /(US$4.28
)
  
$ 
US1.34 /(US$5.36
)
  
$ 
US1.31 /(US$5.24
)
  
$ 
US2.43 /(US$9.72
)
  
$ 
US2.25 /(US$9.00
)
                                                 
Weighted average exercise price per ‘A’ share / (per ADS)
    
-
    
$ 
US1.07 /(US$4.28
)
  
$ 
US1.34 /(US$5.36
)
  
$ 
US1.31 /(US$5.24
)
  
$ 
US2.43 /(US$9.72
)
  
$ 
US2.25 /(US$9.00
)
                                                 
Weighted average expected volatility
    
-
      
42.69
%
    
40.62
%
    
40.48
%
    
29.63
%
    
36.73
%
                                                 
Weighted average expected life
    
-
      
4.55
      
4.45
      
4.69
      
4.81
      
3.74
  
                                                 
Weighted average risk free interest rate
    
-
      
2.72
%
    
1.59
%
    
1.91
%
    
1.21
%
    
1.29
%
                                                 
Expected dividend yield
    
-
      
-
      
0.81
%
    
0.81
%
    
1.14
%
    
0.96
%