Share-based compensation (Tables)
|
12 Months Ended |
Dec. 31, 2021 |
|---|
| Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract] |
|
| Schedule of Recognized Share-based Payment Expenses |
The total expenses arising from share-based payment transactions recognized during the period as part of staff costs were as follows:
|
|
|
Year ended December 31, |
|
|
in USD ‘000 |
|
2021 |
|
|
2020 |
|
|
2019 |
|
|
Employee 2013 EIP |
|
|
- |
|
|
|
220 |
|
|
|
1,006 |
|
|
Employee 2017 EIP |
|
|
5,843 |
|
|
|
6,286 |
|
|
|
10,878 |
|
|
Total share-based compensation |
|
|
5,843 |
|
|
|
6,506 |
|
|
|
11,884 |
|
|
| Schedule of Shares Issued Under 2013 EIP |
The Group has no present obligation to repurchase or settle the shares in cash.
|
|
|
2021 |
|
|
2020 |
|
|
2019 |
|
|
Number of shares vested under the 2013 EIP |
|
|
- |
|
|
|
168,641 |
|
|
|
261,984 |
|
|
Expense arising from the 2013 EIP (in USD ’000) |
|
|
- |
|
|
|
220 |
|
|
|
1,006 |
|
|
| Movements in Number of Stock-options Outstanding Under 2017 EIP |
Movements in the number of stock-options outstanding under the 2017 EIP were as follows:
|
|
2021 |
|
|
2020 |
|
|
|
Average exercise price (USD) |
|
Number of options |
|
|
Average exercise price (USD) |
|
Number of options |
|
|
At January 1, |
|
6.49 |
|
|
7,035,388 |
|
|
|
10.51 |
|
|
4,626,385 |
|
|
Granted |
|
3.29 |
|
|
3,050,340 |
|
|
|
2.93 |
|
|
4,543,952 |
|
|
Forfeited/Expired |
|
8.42 |
|
|
(1,148,255 |
) |
|
|
7.62 |
|
|
(2,134,949 |
) |
|
Exercised |
|
- |
|
|
- |
|
|
|
- |
|
|
- |
|
|
At December 31, |
|
5.15 |
|
|
8,937,473 |
|
|
|
6.49 |
|
|
7,035,388 |
|
|
| Range of Exercise Prices and Expiry Dates Outstanding Stock-options |
|
|
|
As of December 31, |
|
|
Range of exercise prices |
|
2021 |
|
|
2020 |
|
|
USD 15.00 to USD 17.99 |
|
|
96,500 |
|
|
|
361,500 |
|
|
USD 12.00 to USD 14.99 |
|
|
925,418 |
|
|
|
1,050,143 |
|
|
USD 9.00 to USD 11.99 |
|
|
1,211,075 |
|
|
|
1,331,981 |
|
|
USD 6.00 to USD 8.99 |
|
|
109,583 |
|
|
|
161,979 |
|
|
USD 3.00 to USD 5.99 |
|
|
3,539,628 |
|
|
|
1,977,823 |
|
|
USD 1.50 to USD 2.99 |
|
|
3,055,269 |
|
|
|
2,151,962 |
|
|
Total outstanding options |
|
|
8,937,473 |
|
|
|
7,035,388 |
|
|
out of which are exercisable |
|
|
3,552,593 |
|
|
|
2,083,159 |
|
|
Weighted-average remaining contractual life (in years) |
|
|
8.2 |
|
|
|
8.6 |
|
|
| Significant Inputs to Model to Determine Weighted Average Fair Value of Stock-options Granted |
The weighted average fair value of the stock-options granted during the years ended December 31, 2021 and 2020, determined using a Black-Scholes model was USD 2.57 and USD 2.31, respectively. The significant inputs to the model were:
|
|
|
2021 |
|
2020 |
|
|
Weighted average share price at grant date |
|
USD 3.29 |
|
USD 2.93 |
|
|
Weighted average exercise price |
|
USD 3.29 |
|
USD 2.93 |
|
|
Weighted average 10-year volatility |
|
|
76 |
% |
|
77 |
% |
|
Dividend yield |
|
|
0 |
% |
|
0 |
% |
|
Weighted average 10-year risk free rate |
|
|
1.45 |
% |
|
1.28 |
% |
|