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SHARE OPTIONS AND SHARE WARRANTS (Tables)
 12 Months Ended
Dec. 31, 2019
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, 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
  
 
                        
Outstanding January 1, 2019
    
10,908,200
      
1.83
      
0.67 –4.36
  
Granted
    
4,370,000
      
0.68
      
0.46 –0.78
  
Exercised
    
-
      
-
      
-
  
Expired/ Forfeited
    
(2,974,210
)
    
2.25
      
0.66 –4.23
  
 
                        
Outstanding at end of year
    
12,303,990
      
1.31
      
0.46 –4.36
  
 
                        
Exercisable at end of year
    
6,622,667
      
1.73
      
1.24 –4.36
  

 
  
Options and
warrants ‘ADS’
   
Weighted-
average exercise
price US$
    
Range US$
  
 
  
Equivalent
    
Per ‘ADS’
    
Per ‘ADS’
  
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
    
-
      
-
      
-
  
Expired/ 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
  
 
                        
Outstanding January 1, 2019
    
2,727,050
      
7.32
      
2.68–17.44
  
Granted
    
1,092,500
      
2.72
      
1.83 - 3.10
  
Exercised
    
-
      
-
      
-
  
Expired/ Forfeited
    
(743,552
)
    
8.99
      
2.64 – 16.92
  
 
                        
Outstanding at end of year
    
3,075,998
      
5.24
      
1.83 – 17.45
  
 
                        
Exercisable at end of year
    
1,655,667
      
6.92
      
4.95 –17.45
  
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, 2019 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$0.46-US$0.99
      
4,600,000
      
0.69
      
6.42
      
-
      
-
      
-
  
US$1.00-US$2.05
      
5,613,990
      
1.35
      
4.69
      
4,542,667
      
1.34
      
4.68
  
US$2.06- US$2.99
      
1,980,000
      
2.48
      
3.13
      
1,970,000
      
2.48
      
3.13
  
US$3.00 -US$4.36
      
110,000
      
4.19
      
2.07
      
110,000
      
4.19
      
2.07
  
                                                   
       
12,303,990
                      
6,622,667
                  
 
 

     
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$1.84-US$3.96
      
1,150,000
      
2.75
      
6.42
       -       -       -  
US$4.00-US$8.20
      
1,403,498
      
5.40
      
4.69
      
1,135,667
      
5.38
      
4.68
  
US$8.24- US$11.96
      
495,000
      
9.92
      
3.13
      
492,500
      
9.91
      
3.13
  
US$12.00 -US$17.45
      
27,500
      
16.75
      
2.07
      
27,500
      
16.75
      
2.07
  
                                                   
       
3,075,998
                      
1,655,667
                  

The weighted-average remaining contractual life of options outstanding at December 31, 2019 was 5.06 years (2018: 4.33 years).

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
                  

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$758,000 was charged to the statement of operations in 2019, (2018: US$1,369,000), (2017: US$928,000) split as follows:
 
 
  
December 31,
2019
US$‘000
    
December 31,
2018
US$‘000
    
December 31,
2017
US$‘000
  
Share-based payments – cost of sales
    
26
      
34
      
35
  
Share-based payments – selling, general and administrative
    
732
      
1,335
      
893
  
 
                        
Total – continuing operations
    
758
      
1,369
      
928
  
Share-based payments – discontinued operations
    
-
      
-
      
-
  
 
                        
Total
    
758
      
1,369
      
928
  
 
Schedule of Assumption Determining Fair Value of Share Options
The fair value of services received in return for share options granted are measured by reference to the fair value of share options granted. 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 2019, 2018 and 2017:
 
 
  
Key
management
personnel
    
Other
employees
    
Key
management
personnel
    
Other
employees
    
Key
management
personnel
    
Other
employees
  
 
  
2019
    
2019
    
2018
    
2018
    
2017
    
2017
  
Weighted average fair value at measurement date per ‘A’ share / (per ADS)
  

US$0.14 /
(US$0.56
)
  

US$0.25 /
(US$1.02
)
    
-
    

US$0.41 /
(US$1.64
)
  

US$0.43 /
(US$1.72
)
  

US$0.44 /
(US$1.76
)
                                                 
Total ‘A’ share options granted / (ADS’s equivalent)
    
4,060,000 /
(1,015,000
)
    
310,000 /
(77,500
)
    
-
      
720,000 /
(180,000
)
    
5,150,000/
(1,287,500
)
    
480,000 /
(120,000
)
                                                 
Weighted average share price per ‘A’ share / (per ADS)
  

US$0.46 /
(US$1.84
)
  

US$0.64 /
(US$2.53
)
    
-
    

US$1.07 /
(US$4.28
)
  

US$1.34 /
(US$5.36
)
  

US$1.31 /
(US$5.24
)
                                                 
Weighted average exercise price per ‘A’ share / (per ADS)
  

US$0.69 /
(US$2.74
)
  

US$0.64 /
(US$2.53
)
    
-
    

US$1.07 /
(US$4.28
)
  

US$1.34 /
(US$5.36
)
  

US$1.31 /
(US$5.24
)
                                                 
Weighted average expected volatility
    
51.18
%
    
47.31
%
    
-
      
42.69
%
    
40.62
%
    
40.48
%
                                                 
Weighted average expected life
    
4.15
      
4.42
      
-
      
4.55
      
4.45
      
4.69
  
                                                 
Weighted average risk free interest rate
    
1.84
%
    
2.23
%
    
-
      
2.72
%
    
1.59
%
    
1.91
%
                                                 
Expected dividend yield
    
-
      
-
      
-
      
-
      
0.81
%
    
0.81
%