Speciality Metals International Limited Annual Report 2020

Speciality Metals International Limited Annual Report 2020 59 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Page | 60 (f) Valuation of Options Granted 30 June 2020 Number of granted Options Grant date Expiry date Fair Value per Option at grant date Total Fair Value of Options Share-Based Payments Expensed in prior years Expensed in the 2020 year AASB 2 Not yet expensed Exercise Price $0.04 2,000,000 13 May 2020 5 May 2023 0.01747 34,938 - - 34,938 Exercise Price $0.06 3.000.000 13 May 2020 5 May 2023 0.01471 44,122 - - 44,122 5,000,000 79,060 - - 79,060 (g) Performance Rights / Options lapsed during the reporting period No performance rights or options lapsed during the reporting period without exercise. 27. EMPLOYEE BENFITS 2020 $ 2019 $ Current Annual Leave Benefits 105,090 26,473 Non-current Long Service Leave Benefits 12,884 8,890 Total share-based payments 117,974 35,363 28. NEW ACCOUNTING STANDARDS AND INTERPRETATIONS Adoption of New Standards and Interpretations Changes in accounting policies on initial application of Accounting Standards From 1 July 2019, the Group has adopted all the standards and interpretations mandatory for annual periods beginning on or after 1 July 2019 Adoption of these standards and interpretations did not have any effect on the statements of financial position or performance of the Group. The Group has not elected to early adopt any new standards or amendments.