60 Impact Minerals Ltd Annual Report 2022 Notes to the Consolidated Financial Statements continued NOTE 15: CONTRIBUTED EQUITY (CONTINUED) c) Movements in options on issue Consolidated 2022 Number 2021 Number Balance at beginning of the financial year 157,000,000 176,500,000 Options granted - unlisted 90,500,000 4,000,000 Options granted - listed 158,254,389 – Options exercised – (8,000,000) Options expired (40,000,000) (15,500,000) Balance at the end of the financial year 365,754,389 157,000,000 Refer to Note 24 for details of share-based payments. NOTE 16: RESERVES a) Option reserve Consolidated 2022 $ 2021 $ Opening balance 901,996 1,005,268 Fair value of options issued(a) 656,820 169,238 Options exercised – (54,160) Transfer to retained earnings upon expiry/lapse of options (152,800) (218,350) Balance at the end of the financial year 1,406,016 901,996 (a) During the year 87,000,000 Director and employee options were issued. The fair value of Director and employee options is determined at grant date and is expensed over the vesting period for those options. During the year (i) 500,000 unlisted $0.03 options expiring on 15 March 2023 were issued to the lead manager of the April 2022 Placement as part consideration for their services (these options were valued at $500); (ii) 3,000,000 unlisted $0.024 options expiring on 22 April 2025 were issued as part consideration for the acquisition of the Dinninup Project (these options were valued at $21,000); and (iii) 12,800,000 listed $0.02 options expiring on 2 June 2024 were issued to the lead manager of the June 2022 Renounceable Rights Issue as part consideration for their services (these options were valued at $49,920). The options reserve is used to recognise the fair value of options issued to employees and contractors. The details of share-based payments made during the reporting period are shown at Note 24. b) Transactions with non-controlling interest The transactions with non-controlling interest reserve records items related to the acquisition of shares in Invictus Gold Limited. c) Financial asset reserve Consolidated 2022 $ 2021 $ Opening balance 45,000 – Financial assets at fair value through other comprehensive income (Note 10) 27,500 45,000 Closing balance 72,500 45,000
RkJQdWJsaXNoZXIy MjE2NDg3