Annual Report 2011 - Syrah Resources Ltd
Annual Report 2011 - Syrah Resources Ltd
Annual Report 2011 - Syrah Resources Ltd
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<strong>Syrah</strong> <strong>Resources</strong> Limited<br />
Notes to the financial statements<br />
30 June <strong>2011</strong><br />
Note 28. Earnings per share<br />
Consolidated<br />
<strong>2011</strong> 2010<br />
$ $<br />
Loss after income tax attributable to the owners of <strong>Syrah</strong> <strong>Resources</strong> Limited<br />
(985,744) (1,352,909)<br />
Number<br />
Number<br />
Weighted average number of ordinary shares used in calculating basic earnings per<br />
share<br />
Weighted average number of ordinary shares used in calculating diluted earnings per<br />
share<br />
35,722,670 32,361,269<br />
35,722,670 32,361,269<br />
Cents<br />
Cents<br />
Basic earnings per share<br />
Diluted earnings per share<br />
(2.76) (4.18)<br />
(2.76) (4.18)<br />
The rights to options held by option holders have not been included in the weighted average number of ordinary<br />
shares for the purposes of calculating diluted EPS as they do not meet the requirements for inclusion in AASB 133<br />
“Earnings per Share”. The rights to options are non-dilutive as the consolidated entity is loss generating.<br />
Note 29. Share-based payments<br />
A share option plan has been established by the consolidated entity and approved by shareholders at a general<br />
meeting, whereby the consolidated entity may, at the discretion of the Board, grant options over ordinary shares in the<br />
parent entity to certain key management personnel of the consolidated entity. The options are issued for nil<br />
consideration and are granted in accordance with performance guidelines established by the Boad.<br />
Set out below are summaries of options granted under the plan:<br />
<strong>2011</strong><br />
Grant date<br />
Expiry date<br />
Balance at Expired/ Balance at<br />
Exercise the start of forfeited/ the end of<br />
price the year Granted Exercised other the year<br />
10/09/07 31/07/12<br />
31/10/09 31/07/14<br />
17/01/11 17/01/15<br />
$0.25 3,500,000 - - - 3,500,000<br />
$0.20 100,000 - - - 100,000<br />
$0.17 - 400,000 - - 400,000<br />
3,600,000 400,000 - - 4,000,000<br />
2010<br />
Grant date<br />
Expiry date<br />
Balance at Expired/ Balance at<br />
Exercise the start of forfeited/ the end of<br />
price the year Granted Exercised other the year<br />
10/09/07 31/07/12<br />
31/10/09 31/07/14<br />
$0.25 3,500,000 - - - 3,500,000<br />
$0.20 - 100,000 - - 100,000<br />
3,500,000 100,000 - - 3,600,000<br />
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