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CORDLIFE GROUP LIMITED
| ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2015
33.
EMPLOYEE BENEFITS EXPENSE
(CONTINUED)
Cordlife Share Grant Plan
(Continued)
Movement of share awards during the year
Group
2015
2014
No. of shares
Outstanding at 1 July
138,300
–
– Granted
178,200
154,100
– Cancelled
–
(15,800)
Outstanding at 30 June
316,500
138,300
The expense recognised in profit or loss for employee services received under the Cordlife Share Grant Plan
during the financial year ended 30 June 2015 is $108,000 (2014: $45,000).
Fair value of share awards granted
The fair value of services received in return for shares awarded is measured by reference to the fair value of
shares granted each year under the Cordlife Share Grant Plan. The estimate of the services received is measured
based on a Monte Carlo simulation model, which involves projection of future outcomes using statistical
distribution of key random variables including share price and volatility of returns.
The following table lists the key inputs to the model used for the share awards:
2015
2014
Expected dividend yield (%)
2.4
1.7
Expected volatility (%)
34.18
32.18
Risk-free interest rate (%)
0.20 to 0.47 0.31 to 0.36
Expected term (years)
2
2
Share price at date of grant ($)
0.880
1.195
Based on the Monte Carlo simulation model, the estimated fair value at date of grant for each share granted
under the Cordlife Share Grant Plan is $0.289 (2014: $1.436).
