INOVIQ Ltd Annual Report 2022

30 INOVIQ Limited Group Performance The table below shows the performance of the Group as measured by the Group’s closing share price and EPS over the last five years. 12months ended 30 June 2018 12months ended 30 June 2019 12months ended 30 June 2020 12months ended 30 June 2021# 12months ended 30 June 2022# Closing share price $0.014 $0.020 $0.027 $1.88 $0.39 Loss after tax ($) (1,817,301) (1,717,273) (3,253,553) (11,150,880) (18,195,977) EPS ($ per share) (0.003)* (0.001) (0.0022) (0.1443) (0.2003) # Data included for these financial years are impacted by a consolidation of securities in December 2020 on the basis of 1 security for every 30 securities held. * The loss per share calculations for periods prior to 30 June 2019 have been adjusted by a factor of 1.019 to reflect the bonus element of the capital raising completed subsequent to year end. Share Options Shares issued as a result of the exercise of options During the financial year the Company issued 83,778 (2021: 238,943) new ordinary shares from the exercise of options. A total of $50,272 (2021: $286,465) in exercise proceeds was received. Options issued Investors who took part in the share placement and SPP received one free quoted option for every two shares issued, resulting in 5,909,965 options issued. These options are exercisable at $2.32 and expire 24 August 2023. At the Company’s 2021 Annual General Meeting (AGM), on 29 November 2021 (option grant date), shareholders approved the issue of 500,000 options to each of the Non-executive Directors. The options were issued under the IIQ IOP. The options were issued in two equal tranches of 250,000 options. The first tranche is exercisable at $2.32 per option and vests (becomes exercisable) when the 7 day volume weighted price of the company’s ordinary shares reaches $2.32 and expires 30 September 2023. The fair value per option at grant date was $0.193 (calculated using a Monte Carlo option pricing model). The second tranche is exercisable at $3.00 per option and vests (becomes exercisable) when the 7 day volume weighted price of the company’s ordinary shares reaches $3.00 and expires 30 September 2024. The fair value per option at grant date was $0.234 (calculated using a Monte Carlo option pricing model). There are no performance conditions attached to these options. The options were however issued at an exercise price that represented a 116% and 179% premium, respectively, to IIQ’s share price at the time of issue. A further 200,000 options were issued to staff members under the terms of the IIQ IOP during the financial year. Dr. Greg Rice was awarded 150,000 upon his appointment to the role of Chief Scientific Officer (CSO). These options were granted on 4 January 2022. The options are exercisable at $1.73 per option, vest in three equal tranches – 12, 24 and 36 months from issue – and expire 20 September 2025. The fair value per option at grant date was $0.659 (calculated using a Binomial option pricing model). Options are forfeited if Dr. Rice leaves the employment of INOVIQ before vesting. There are no performance conditions attached to these options. The options were however issued at an exercise price that represented a 39% premium to IIQ’s share price at the time of issue. Dr Peter French was awarded 50,000 options upon his appointment to the role Strategic Technology Advisor. These options were granted on 19 November 2021, exercisable at $1.46 per option, vesting 19 November 2022 and expiring 19 November 2025. The fair value per option at grant date was $0.801 (calculated using a Binomial option pricing model). There were no performance conditions attached to these options. The options were however issued at an exercise price that represented a 39% premium to IIQ’s share price at the time of issue. These options later lapsed, as vesting conditions were not met. In the comparative period 166,667 options were issued to the CEO, Dr Leearne Hinch, under the IOP. Directors’ Report

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