DONACO INTERNATIONAL LIMITED 2018 ANNUAL REPORT 74 75 DONACO INTERNATIONAL LIMITED 2018 ANNUAL REPORT 75 74 NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 June 2018 NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 June 2018 NOTE 37. EARNINGS PER SHARE CONSOLIDATED 2018 2017 $ $ Earnings per share for (loss)/profit from continuing operations (Loss)/profit after income tax (124,248,871) 31,189,049 Non-controlling interest (261,944) (198,751) (Loss)/profit after income tax attributable to the owners of Donaco International Limited (124,510,815) 30,990,298 CONSOLIDATED 2018 2017 Numbers Numbers Weighted average number of ordinary shares used in calculating basic earnings per share 828,178,915 831,211,424 Adjustments for calculation of diluted earnings per share: Options over ordinary shares – – Weighted average number of ordinary shares used in calculating diluted earnings per share 828,178,915 831,211,424 CONSOLIDATED 2018 2017 Cents Cents Basic earnings per share (15.03) 3.73 Diluted earnings per share (15.03) 3.73 An additional 5,444,811 options over ordinary shares and 12,339,408 shares subject to warrants are anti-dilutive and have been excluded from the above calculations as the exercise price of these options and warrants exceeds the average market share price during the year. NOTE 38. SHARE-BASED PAYMENTS EMPLOYEE SHARES Share allocation FY18 Under the employee share scheme, 1,781,429 shares were issued to employees on 3 October 2017, held by an employee share trust. These shares were issued at 41.99 cents per share and will vest over the three-year vesting period commencing on 1 July 2017. EMPLOYEE OPTIONS Employee option allocation FY14 At the Annual General Meeting on 21 November 2013, shareholders approved the establishment of a LTI plan for executives, consisting of the annual grant of units under an option share trust (OST). On 23 December 2013, the company announced that it had issued options amounting to 1% of its then issued capital (a total of 4,010,511 options) under the LTI plan. Approval for the issue of these options under an employee incentive scheme was obtained pursuant to ASX Listing Rule 10.14. These options were not contributed to the OST until 1 July 2014. Accordingly employees were not allocated units in the OST until 1 July 2014. Employee option allocation FY15 Pursuant to the approval granted by shareholders at the FY13 Annual General Meeting, further options were contributed to the OST for FY15. These options were not contributed to the OST until 1 July 2015, and accordingly employees were not allocated additional units in the OST until 1 July 2015. Employee option allocation FY16 Pursuant to the approval granted by shareholders at the FY13 Annual General Meeting, further options were contributed to the OST for FY16. These options were contributed to the OST and employees were allocated additional units on 25 August 2015. Set out below are summaries of options outstanding under the plan during the year ended 30 June 2018: GRANT DATE EXPIRY DATE EXERCISE PRICE BALANCE AT START OF THE YEAR GRANTED EXERCISED EXPIRED/ FORFEITED/ OTHER BALANCE AT THE END OF THE YEAR 01/07/2014 01/07/2017 $0.59 1,194,836 – – (1,194,836) – 01/07/2014 01/07/2018 $0.59 1,149,717 – – – 1,149,717 01/07/2015 01/07/2017 $0.89 457,047 – – (457,047) – 01/07/2015 01/07/2018 $0.89 395,208 – – – 395,208 01/07/2015 01/07/2019 $0.89 349,377 – – – 349,377 25/08/2015 01/07/2018 $0.77 1,385,700 – – – 1,385,700 25/08/2015 01/07/2019 $0.77 1,156,784 – – – 1,156,784 25/08/2015 01/07/2020 $0.77 1,008,025 – – – 1,008,025 7,096,694 – – (1,651,883) 5,444,811 Set out below are the options exercisable at the end of the financial year: GRANT DATE EXPIRY DATE EXERCISE PRICE NUMBER NUMBER $ 2018 2017 01/07/2014 01/07/2017 0.59 – 1,194,836 01/07/2014 01/07/2018 0.59 1,149,717 1,149,717 01/07/2015 01/07/2017 0.89 – 457,047 01/07/2015 01/07/2018 0.89 395,208 395,208 25/08/2015 01/07/2018 0.77 1,385,700 1,385,700 01/07/2015 01/07/2019 0.89 349,377 – 3,280,002 4,582,508 The weighted average share price during the financial year was $0.34 (2017: $0.43). The weighted average remaining contractual life of options outstanding at the end of the financial year was 0.65 years (2017: 1.27 years). The weighted average exercise price for all outstanding options is $0.75 (2017: $0.73).