108
Cordlife Group Limited
Annual Report 2016
Notes to
The Financial Statements
for the financial year ended 30 June 2016
35. Employee benefits expense (cont’d)
Cordlife Share Grant Plan (cont’d)
Movement of share awards during the year
Group
2016
2015
No. of shares
Outstanding at 1 July
316,500
138,300
- Granted
859,900
178,200
- Awarded
(61,000)
–
- Cancelled
(658,900)
–
Outstanding at 30 June
456,500
316,500
The expense recognised in profit or loss for employee services received under the Cordlife Share Grant Plan
during the financial year ended 30 June 2016 is $102,000 (2015: $108,000).
Fair value of share awards granted
The fair value of services received in return for shares awarded is measured by reference to the fair value
of shares granted each year under the Cordlife Share Grant Plan. The estimate of the services received is
measured based on a Monte Carlo simulation model, which involves projection of future outcomes using
statistical distribution of key random variables including share price and volatility of returns.
The following table lists the key inputs to the model used for the share awards:
2016
2015
Expected dividend yield (%)
6.6
2.4
Expected volatility (%)
34.09
34.18
Risk-free interest rate (%)
0.44 to 0.84
0.20 to 0.47
Expected term (years)
2
2
Share price at date of grant ($)
1.445
0.880
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 $1.923 (2015: $0.289).
