Cue Energy Resources Limited Notes to the financial statements 30 June 2024 Note 23. Earnings per share (continued) 57 Cents Cents Basic earnings per share 2.03 2.18 Diluted earnings per share 2.03 2.18 Accounting policy for earnings per share Basic earnings per share Basic earnings per share is calculated by dividing the earnings attributable to the owners of Cue Energy Resources Limited, excluding any costs of servicing equity other than ordinary shares, by the weighted average number of ordinary shares outstanding during the financial year, adjusted for bonus elements in ordinary shares issued during the financial year. Diluted earnings per share Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares and the weighted average number of shares assumed to have been issued for no consideration in relation to dilutive potential ordinary shares. Note 24. Share-based payments During the year ended FY 2024, $0.11 million in share-based payments expenses was recognised (FY 2023: $0.10 million). On 8 September 2023, the Company issued 4,640,759 unlisted options to eligible employee under the share option scheme. The options are exercisable at $0.072 (7.2 cents) per option and will vest on 1 July 2026 and expire on 1 July 2028. The options were valued using Black-Scholes option pricing model. $0.042 million of share-based payment expense was recognised in relation to the options for the year ended 30 June 2024. In March 2024, 2,152,654 options with an expiry date of 1 July 2024 and an exercise price of $0.09 (9 cents) per fully paid ordinary share were exercised on a cashless basis, as a result of which 252,562 fully paid ordinary shares in the Company were issued. Set out below are summaries of options granted under the plan: 30 June 2024 Grant date Expiry date Exercise price Balance at the start of the year Granted Exercised Expired/ forfeited/other Balance at the end of the year 29/07/2017 01/07/2023 $0.070 3,473,653 - - (3,473,653) - 04/10/2019 01/07/2024 $0.090 3,523,015 - (2,152,654) - 1,370,361 16/07/2020 01/07/2025 $0.117 3,204,237 - - - 3,204,237 23/07/2021 22/07/2026 $0.078 4,005,799 - - - 4,005,799 30/08/2022 01/07/2027 $0.089 3,598,698 - - - 3,598,698 08/09/2023 01/07/2028 $0.072 - 4,640,759 - - 4,640,759 17,805,402 4,640,759 (2,152,654) (3,473,653) 16,819,854 Weighted average exercise price $0.088 $0.072 $0.090 $0.070 $0.087 The weighted average remaining contractual life of outstanding options at 30 June 2024 is 2.43 years (30 June 2023: 2.56 years). 71 Cue Energy Resources Limited Annual Report 2024
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