Oxford Catalysts Group PLC Annual Report and Accounts 2010

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Annual Reportand Accounts2010Oxford CatalystsGroup PLCNotes to the Accounts (continued)Share options outstanding at the end of the year have the following expiry date and exercise prices.2010 2009WeightedRange of Weighted averageexercise price Number of average Number of exerciseYear of expiry per share options exercise price options price2011 $1.39 158,879 $1.39 158,879 $1.392012 $1.39 34,313 $1.39 34,313 $1.392013 $0.77 187,740 $0.77 266,796 $0.772014 $0.77 951 $0.77 119,854 $0.772015 $0.77 106,565 $0.77 359,121 $0.772016 $2.21 - $2.22 83,798 $2.21 189,164 $2.212017 $2.21 - $2.55 47,569 $2.46 51,227 $2.472018 $2.54 - $2.60 16,169 $2.58 19,534 $2.57Total 635,984 $1.32 1,198,888 $1.20Total expense recognised in the income statement for share options granted under the Velocys plan was £15,000 (2009:£54,000).Bonus SharesThe Group maintains two bonus share schemes for certain executives: one in respect of employees of Oxford CatalystsLimited and one in respect of employees of Velocys, Inc. Under both schemes, the value of the bonus is based upon theexecutive’s salary as well as the Group and the executive achieving certain targets throughout the year. The OxfordCatalysts Limited bonus share scheme awards nominal value share options (1p) that are issued after year end. The awardsvest on the date of grant and expire 10 years thereafter. The share-based payment expense for the year includes a cost of£148,000 (2009: £257,000) for the Oxford Catalysts Limited bonus share options. Details of the bonus shares outstandingunder the Oxford bonus share scheme are as follows.2010 2009NumberNumberof optionsof optionsAt 1 January 249,643 –Granted 488,602 564,096Exercised (354,140) (314,453)At 31 December 384,105 249,643Oxford Catalysts Limited bonus share options outstanding at the end of the year have the following expiry dates.2010 2009NumberNumberYear of Expiry Exercise price of options of options2019 1p 42,105 249,6432020 1p 342,000 –Total 384,105 249,643The Velocys bonus share scheme consists of deferred shares awarded subsequent to year end at a nominal price of 1p.20% of the award is granted on each anniversary of the date of award. Deferred awards totalled 236,831 shares and sharesremaining to be granted in future years totalled 93,876 shares. Bonus share awards in 2009 were nil.The share-based payment expense for the year includes a cost of £112,000 (2009: £33,000) related to shares granted underthe Velocys bonus share scheme.Share-based Payments ChargeThe total charge for share-based payments during the year was £410,000 (2009: £675,000) of which £248,000 (2009:£493,000) relates to options granted to Directors and the remainder to other employees.38
Oxford CatalystsGroup PLCAnnual Reportand Accounts201013 Loss Per ShareThe basic loss per share is calculated by dividing the loss attributable to equity holders of the Company by the weightedaverage number of ordinary shares in issue during the year.2010 2009Loss attributable to equity holder of the Company (£’000s) (7,212) (5,464)Weighted average number of ordinary shares in issue 63,008,632 60,211,508Basic and diluted loss per share (pence) (11.45) (9.07)Diluted loss per share is calculated by adjusting the weighted average number of shares in issue to assume conversion ofall potential dilutive shares. Share options have not been included in the number of shares used for the purpose ofcalculating diluted loss per share since these would be anti-dilutive for the period presented. Other than share options andthe Put and Call Option (see note 27), there are no other potentially dilutive instruments. Details of share options are givenin note 12.14 Intangible AssetsPatents,In process licence andGroup Goodwill technology trademarks Software Total2010 £’000 £’000 £’000 £000 £’000CostAt 1 January 2010 4,129 19,403 328 77 23,937Transfer from property, plant and equipment – – – 9 9Additions – 364 391 17 772Foreign exchange movement 162 759 (3) 3 921At 31 December 2010 4,291 20,526 716 106 25,639Accumulated amortisationAt 1 January 2010 – – 26 35 61Charge for the year – – 13 28 41Foreign exchange movement – – – 2 2At 31 December 2010 – – 39 65 104Net book amountAt 31 December 2010 4,291 20,526 677 41 25,535Patents,In process licence andGoodwill technology trademarks Software Total2009 £’000 £’000 £’000 £000 £’000CostAt 1 January 2009 4,606 21,626 285 74 26,591Additions 20 114 43 11 188Foreign exchange movement (497) (2,337) – (8) (2,842)At 31 December 2009 4,129 19,403 328 77 23,937Accumulated amortisationAt 1 January 2009 – – 17 4 21Charge for the year – – 9 33 42Foreign exchange movement – – – (2) (2)At 31 December 2009 – – 26 35 61Net book amountAt 31 December 2009 4,129 19,403 302 42 23,876At 1 January 2009 4,606 21,626 268 70 26,570In process technology is yet to be brought into use and hence is not being amortised.Intangible assets in use are amortised over their expected useful lives and are reviewed when there is an indication that animpairment may have occurred.39
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Oxford Catalysts Group PLC Annual Report and Accounts 2010

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