The following information is relevant in the determination of the fair value of options granted during the year 2017 under the equity share based remuneration schemes operated by the Group.
2017 | |
| Number of options | 1,351,250 |
| Option pricing models used | Monte-Carlo |
| Share price | £0.41* |
| Exercise
price of options issued in year |
£0.46 |
| Contractual life | 10 years |
| Expected life | 5 years |
| Volatility | 42.5%** |
| Expected dividend yield | 0% |
| Risk free rate | 0.73% |
| * | The share price used in the determination of the fair value of the options granted in 2017 was the share price on the date of grant. |
| ** | Volatility was calculated with reference to the historic share price volatility of comparable companies measured over a five-year period. |
The following information is relevant in the determination of the fair value of options granted during the year 2016 under the equity share based remuneration schemes operated by the Group.
2016 | |
| Number of options | 2,071,600 |
| Option pricing models used | Black Scholes |
| Share price | £1.143-£1.19* |
| Exercise
price of options issued in year |
£1.21-£2.68 |
| Contractual life | 10 years |
| Expected life | 5 years |
| Volatility | 40%** |
| Expected dividend yield | 0% |
| Risk free rate | 0.63%-0.74% |
| * | The share price used in the determination of the fair value of the options granted in 2016 was the average of the opening and closing share prices on the date of grant. |
| ** | Volatility was calculated with reference to the historic share price volatility of comparable companies measured over a five-year period. |