Urbanise.com Annual Report 2019

Annual Report 2019 Urbanise.com Limited 29. Share-based payments (continued) Fair value of share options at grant date Financial Year 2019 Grant Date Fair value of options at grant date No. of options granted Expiry date Share price at grant date Expected volatility of shares Expected dividend yield Risk-free interest rate Exercise Price 04/09/2018 $0.027 1,146,552 31/12/2020 $.028 85% 0% 1.98% $0.001 Expected volatility was determined based on historical volatility over the expected life of the share options Financial Year 2018 Grant Date Fair value of options at grant date No. of options granted Expiry date Share price at grant date Expected volatility of shares Expected dividend yield Risk-free interest rate Exercise Price 21/11/2017 $0.0058 300,000 23/11/2020 $0.04 80% 0% 1.77% $0.175 21/11/2017 $0.0073 250,000 23/11/2020 $0.04 80% 0% 1.77% $0.225 No share options were exercised during the year ended 30 June 2019 (2018: Nil). The weighted average remaining contractual life for share options outstanding at the end of the period was 1.1 years Expected volatility was determined based on historical volatility over the expected life of the share options 30. Subsequent events Other than noted below and as already noted in the financial statements, there have been no significant subsequent events in the affairs of the Group at the date of this report. 31. Deed of cross guarantee Pursuant to ASIC Class Order 98/1418 (as amended) dated 13 August 1998, the wholly-owned subsidiaries listed below are relieved from the Corporations Act 2001 requirements for preparation, audit and lodgement of financial reports, and Director’s reports. It is a condition of the Class Order that the Company and each of the subsidiaries enter into a Deed of Cross Guarantee. The effect of the Deed is that the Company guarantees to each creditor payment in full of any debt in the event of winding up any of the subsidiaries under certain provisions of the Corporations Act 2001 . If a winding up occurs under other provisions of the Act, the Company will only be liable in the event that after six months any creditor has not been paid in full. The subsidiaries have also given similar guarantees in the event that the Company is wound up. The following companies are parties to a deed of cross guarantee under which each company guarantees the debts of the others: –– Urbanise.com Limited; –– Mystrata Pty Limited; and –– Mystrata Holdings Pty Limited –– Urbanise.com (SEA) Pte. Limited Notes to the Consolidated Financial Statements for the year ended 30 June 2019 (continued) 80