ANNUAL Report June 2023 Notes to the Consolidated Financial Statements 53 (b) Options Issued The following table details the number and movements in options issued as employment incentives to Key Management Personnel during the year. 2023 Number 2023 WAEP 2022 Number 2022 WAEP Outstanding at the beginning of the year 37,000,000 0.058 42,000,000 0.058 Granted - - - - Forfeited / cancelled - - - - Exercised1 (5,000,000) 0.050 (5,000,000) - Expired - - - - Outstanding at year end 32,000,000 0.061 37,000,000 0.058 Exercisable at year end 32,000,000 0.061 21,000,000 0.058 1 Options are deemed exercised upon the resignation of Key Management Personnel. The 1,250,000 Options issued to Directors as part of the October 2022 placement have been excluded as they were not issued as remuneration. (c) Performance Rights / Options lapsed during the reporting period There were no Performance rights issued during the reporting period. 29. EMPLOYEE BENEFITS 2023 $ 2022 $ Current Annual leave benefits 413,798 263,736 Long service leave benefits 26,121 18,661 439,919 282,397 Non-current Long service leave benefits 31,868 15,418 Total employee benefits 471,787 297,815 30. NEW ACCOUNTING STANDARDS AND INTERPRETATIONS Adoption of New Standards and Interpretations Changes in accounting policies on initial application of Accounting Standards From 1 July 2022, the Company has adopted all the standards and interpretations mandatory for annual periods beginning on or after 1 July 2022. Adoption of these standards and interpretations did not have any effect on the statements of financial position or performance of the Company. The Company has not elected to early adopt any new standards or amendments. EQ Resources Limited Annual Report 2023 95
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