25. SHARE OPTION RESERVE (CONTINUED) Equity-settled share option scheme (Continued) Pursuant to the Scheme (Continued), f) On 2 April 2018, the Company had granted 2,950,000 share options (“2018 Options”) to subscribe for 2,950,000 ordinary shares in the Company at an exercise price of $0.46. The vesting of the options is conditional on the eligible participants completing another two years of service to the Group. Once they have vested, the Options are exercisable over a period of 8 years, from 2 April 2020 and expire on 1 April 2028. g) On 16 April 2019, the Company had granted 650,000 share options (“2019 Options”) to subscribe for 650,000 ordinary shares in the Company at an exercise price of $0.40. The vesting of the options is conditional on the eligible participants completing another two years of service to the Group. Once they have vested, the Options are exercisable over a period of 8 years, from 16 April 2021 and expire on 15 April 2029. Movements in the number of unissued ordinary shares under option and their exercise prices are as follows: Date of grant Balance at beginning of financial year Granted during the financial year Exercised during the financial year Forfeited during the financial year Balance at end of financial year Exercise price Exercisable period $ 1/12/2014 200,000 – – – 200,000 0.315 1.12.2016 to 30.11.2024 8/1/2016 1,650,000 – – – 1,650,000 0.400 8.1.2018 to 7.1.2026 3/4/2017 300,000 – – – 300,000 0.355 3.4.2019 to 2.4.2027 2/4/2018 2,525,000 – – – 2,525,000 0.460 2.4.2020 to 1.4.2028 16/4/2019 500,000 – – – 500,000 0.400 16.4.2021 to 15.4.2029 Total 5,175,000 – – – 5,175,000 During the financial year ended 30 September 2024, no (2023: no) options were exercised for the equity-settled share option scheme. The options outstanding at end of the reporting period have remaining exercisable life of 1 to 4.5 years (2023: 1 to 5.5 years). Out of the total equity-settled share option schemes of 5,175,000 (2023: 5,175,000) options, 5,175,000 (2023: 5,175,000) options are exercisable as at 30 September 2024. The Group recognised share based payment expenses and a corresponding share option reserve of $Nil (2023: $Nil) for the financial year ended 30 September 2024. 26. OTHER RESERVES Foreign currency translation reserve The foreign currency translation reserve comprises all foreign exchange differences arising from the translation of the financial statements of foreign operations whose functional currency is different from that of the Group’s presentation currency and is non-distributable. Movements in this reserve are set out in the consolidated statements of changes in equity. Merger reserve Merger reserve represents the difference between the consideration paid and the share capital of subsidiaries acquired under common control. 115 ANNUAL REPORT 2024 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
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