Notes to the Consolidated Financial Statements continued ANNUAL Report June 2023 Notes to the Consolidated Financial Statements 40 1 July 2022 to 30 June 2023 Date Number of Shares Issue Price $ Issue of 2,000,000 shares @ $0.040 per share upon the exercise of unlisted options (refer ASX announcement dated 26 June 2023) 26/06/2023 2,000,000 $0.040 80,000 Issue of 3,000,000 shares @ $0.060 per share upon the exercise of unlisted options (refer ASX announcement dated 26 June 2023) 26/06/2023 3,000,000 $0.060 180,000 Share issue costs (302,645) Balance as at 30 June 2023 1,474,486,938 27,222,060 1 July 2021 to 30 June 2022 Date Number of Shares Issue Price $ Balance b/fwd 1,313,354,631 20,603,915 Issue of 11,560,592 shares @ $0.065 per share on the conversion of 750,000 convertible notes plus accrued interest to conversion date (refer ASX announcement dated 28 September 2021) 28/08/2021 11,560,592 $0.065 751,438 Issue of 9,646,535 shares @ $0.065 per share on the conversion of 625,800 convertible notes plus accrued interest to conversion date (refer ASX announcement dated 29 September 2021) 29/09/2021 9,646,535 $0.065 627,025 Issue of 9,625,180 shares @ $0.065 per share on the conversion of 624,200 convertible notes plus accrued interest to conversion date (refer ASX announcement dated 30 September 2021) 30/09/2021 9,625,180 $0.065 625,637 Convertible note issue costs (415,310) Balance as at 30 June 2022 1,344,186,938 22,192,705 Terms and Conditions of Contributed Equity Ordinary Shares Ordinary shares have the right to receive dividends as declared and in the event of winding up the Company, to participate in the proceeds from the sale of all surplus assets in proportion to the number of and amounts paid up, on the shares held. Ordinary shares entitle their holder to one vote, either in person or by proxy, at a meeting of the Company. Option holders have no voting rights until the options are exercised. (b) Movements in Share Options The following table illustrates the share-based payments expense, number and weighted average exercise prices (WAEP) of, and movements in, share options during the year: Number WAEP $ Balance at 1 July 2022 111,000,000 0.058 6,401,000 Options recognised as share-based payments expense - - - Options recognised as share issue costs - - - Options recognised as capitalised borrowing costs - - - Amortisation share based payments 30,075,000 0.065 1,954,875 Forfeited / cancelled (292,654) (0.065) (19,023) Exercised (10,000,000) (0.050) (500,000) Expired - - - Balance at 30 June 2023 130,782,346 0.060 7,836,852 82 EQ Resources Limited Annual Report 2023
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