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Annual Report 2017OncoS
il Med
ical Lim
ited A
nnual R
eport 2017
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About oncosil™
Oncosil Medical Limited (OSL) has developed a new technology – Oncosil™ comprised of Phosphorous-32 Microparticles and Diluent. OncoSil™ is an active implantable (radiological) medical device intended for use in brachytherapy, where cancer is treated by the insertion of radioactive implants directly into the cancerous tissue.
United States
MD Anderson Cancer Center *lead study centre
John Hopkins University Hospital
Moffitt Cancer Center
Northwestern Memorial Hospital
Cedars-Sinai Hospital
United Kingdom
Guy’s and St Thomas’ Hospital *lead study centre
University of Leicester
Hammersmith Hospital
Addenbrookes Hospital
Royal Liverpool Hospital
Belgium
The Institute Jules Bordet *lead study centre
Australia
Monash Health *lead study centre
St. Vincent’s Hospital
Westmead Hospital
Royal North Shore Hospital
Royal Adelaide HospitalFor
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Contents
Making Progress 2
Chairman’s Letter 4
CEO’s Report 5
Directors’ Report 7
Remuneration Report 11
Auditor’s Independence Declaration 19
Statement of Profit or Loss and Other Comprehensive Income 20
Statement of Financial Position 21
Statement of Changes in Equity 22
Statement of Cash Flows 23
Notes to the Financial Statements 24
Directors’ Declaration 46
Independent Auditor’s Report 47
Shareholder Information 50
Corporate Directory 51
Dedicated to transforming the prognosis.
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MAking Progress
2017 has been a year of significant achievements.
29 July, 2016OncoSil Medical receives IDE approval from the US FDA to conduct a clinical study
8 February, 2017MHRA approves commencement of pancreatic clinical study programme in UK
28 November, 2016Lead trial sites confirmed for pancreatic clinical study programme in US, UK and Australia
28 February, 2017Dr Martin Cross appointed Non-Executive Director
27 March, 2017First subject enrolled for global pancreatic cancer trial by Monash Medical Centre, Melbourne
OncoSil Medical Annual Report 2017
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14 April, 2017IRB approval received from MD Anderson Cancer Center
31 March, 2017UK Central Ethics approval received
24 April, 2017First patient implanted with OncoSil™ device at Monash Medical Centre, Melbourne
3 May, 2017Dr Chris Roberts
AO, appointed as OncoSil Chair
10 May, 2017Second patient
enrolled at Monash Medical Centre,
Melbourne
20 April, 2017Independent pharmaceutical company Specialised Therapeutics Australia (STA) provision of chemotherapy Nab-Paclitaxel (Abraxane)
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Chairman’s LETTEr
Dear Shareholder,
On behalf of the OncoSil Medical Board, and as your newly appointed Chairman, I am pleased to present our 2016-2017 Annual Report to you.
The past year has been an important one for the company, with steady progress made in our global pancreatic cancer study. We are pleased to have made significant strides in advancing OncoSil™ technology toward commercialisation, and are encouraged by the engagement to date by participant trial sites, practitioners, as well as industry partners who have contributed their support.
My career in the medical innovations space has been defined by working with technologies that make a valuable difference in patient’s lives, ensuring wide impact through global commercialisation. Similar to other companies I have led, I am incredibly excited by the potential of OncoSil Medical as it progresses towards achieving CE Marking and other regulatory approvals in the future.
Pancreatic cancer is a target of significant unmet need, with a prognosis that is typically discouraging, even with the aid of targeted therapy. Across the markets of our intended approvals, there are on average 85,000 new cases of pancreatic cancer in the EU each year, 45,000 in the US, and 3,350 in Australia. Current treatment options are limited for patients, and this reality drives our company’s goal of delivering targeted therapy directly to tumours to improve patients’ quality of life and aid in the restoration of their health.
In February, the British Standards Institution (BSI) indicated that certification will be contingent on the provision of supplemental data from 20 patients involved in our global trial; this is consistent with the compulsory data requested from the FDA.
Since then we have made solid progress with numerous ethics approvals in our global study, activation of sites across Australia, UK and US, recruitment of patients, and implantation procedures successfully completed.
The year ahead will be pivotal for OncoSil Medical, and I am confident in the ability of our management team to deliver on impending milestones. On behalf of the Board, I would like to thank our Chief Executive Officer, Daniel Kenny, and the entire OncoSil Medical team for their contributions. I would also like to thank our shareholders for their continued support.
Lastly, I would also like extend my appreciation to the many dedicated practitioners and patients involved in our important global study.
OncoSil™ is a truly innovative device with the potential to transform the treatment of pancreatic cancer. I look forward to the successes of the upcoming year, and continuing our purposeful work to make a positive impact on those affected by cancer.
Sincerely,
Dr Chris Roberts, AO Chairman
OncoSil Medical Annual Report 2017
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CEO’s rEpOrT
OncoSil Medical has progressed significantly over the past year, with key advancements made in our global pancreatic study as we work toward receiving CE Marking and the first commercialisation of our technology.
I am proud to lead a talented management team that are committed to making a difference in the lives of people living with cancer, and have the upmost confidence in the team’s current composition, skills and ability to deliver on all milestones ahead.
In May, we were pleased to announce that Dr Chris Roberts, AO would be stepping into the role of Non-Executive Chairman, extending his involvement in the company’s overall direction. We were also pleased to welcome Dr Martin Cross to our Board as a Non-Executive Director.
Both individuals are highly regarded pharmaceutical executives, and bring valuable industry experience to the OncoSil Medical team at this critical time in the company’s development.
CE mark
In February, BSI indicated OncoSil™ would be approved for CE Marking contingent on supplemental data being provided from 20 patients with locally advanced pancreatic cancer, a condition which is consistent with the request from the US FDA.
This supplemental data will support the existing safety and clinical performance data already reviewed, and we have made steady progress with patient recruitment and activation of multiple global sites to achieve this requirement.
“ I am proud to lead a talented management team that are committed to making a difference in the lives of people living with cancer...”
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Global pancreatic Clinical study programme
It has been a busy 12 months for our team following initiation of our global pancreatic clinical study programme. After announcing participation of multiple renowned cancer centres in our global study, in February, we received first ethics approvals to commence patient recruitment at Monash Health in Melbourne.
By June 30th, a total of 13 subjects had been recruited for the global clinical study in pancreatic cancer out of a total of 20 subjects required to meet the supplemental data request to secure CE Marking. 10 prestigious cancer centres across Australia, UK and the US are now active and recruiting subjects. To date 10 patients have been implanted with the OncoSil™ device.
While recruitment for our study is a complex process that takes time, we are impressed by the efforts of our trial centres and lead investigators thus far. Once enrolment is full, and data is provided, this positions us well to receive CE Marking shortly thereafter.
Financial position
In terms of financial activity, the cash outflow from operations for the year was $6.1m, resulting in a cash balance as at 30 June 2017 of $8.0m.
Given the considerable achievements OncoSil Medical has made over the last year, I am looking forward to the 2017-2018 year ahead for our Company as we continue to advance commercialisation of our important technology.
Yours Sincerely,
Daniel Kenny CEO OncoSil Medical
CEO’s rEpOrT COnTinuEd
OncoSil Medical Annual Report 2017
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OncoSil Medical Annual Report 2017
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coSilTM deviStudy, aimed t in the futurentees of thepatient run-
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OncoSil Medical Annual Report 2017
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OncoDirect30 Ju
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he Company'd the number
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of meetings
8 October 20
ed) hich has ben accordance
g authority aall directors.
t out under thmine the natu
ion
lating to KMP
e the natureexecutive re
bilities and thwork aligns eis considerees that exec
sonablenessders; gnment of ex
neration Com and executphilosophy i
executive re
hat the rewars a core comowth in sharturn on asseigh calibre e
's Board of Dr of meetings
Full Boardded H
7 7 7 3 2
s held during
016.
een auditede with the re
and responsi
he following ure and amou
P
e and amouneward framewhat remuneraexecutive rew
ed to conformcutive rewar
s;
xecutive com
mmittee ('Nives. The peis to attract, m
emuneration
rd frameworkmponent of plreholder weaets as well asexecutives.
6
Directors ('ths attended by
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7 7 7 3 2
g the time th
d, details thquirements o
bility for plan
main headinunt of remun
nt of remunework is to eation is comward with the
m to the markrd satisfies t
mpensation; a
RC') is reserformance omotivate and
n framework
k is designedlan design; alth, consistins focusing the
he Board') any each direct
NominatRemuneratioAttended
1 1 1 1 -
he director h
he key manof the Corpo
nning, directi
gs: neration
eration nsure the re
mpetitive in ae achievemeket best practhe following
and
ponsible forof the Groupd retain high
that is mar
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ng of dividene executive o
nd of each Btor were:
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Held
eld office or
nagement prations Act 2
ng and cont
emuneration ttracting, ret
ent of strategctice for the dg key criteri
r determininp depends on
performance
rket competi
shareholders
nds and growon key non-f
Board commi
e Audit an Attend
1 1 1 1 -
r was a mem
ersonnel ('K2001 and its
rolling the ac
package prtaining and mgic objectivesdelivery of rea for good
g and revien the qualitye and high qu
tive and com
' interests by
wth in share financial drive
ittee held du
nd Risk Comed H
2 2 2 -1
mber of the
KMP') remunRegulations.
ctivities of th
operly reflecmotivating pes and the creeward. The Breward gove
ewing remuny of its directuality person
mplementary
y:
price, and deers of value;
uring the
mmittee Held
2 2 2 -1
relevant
neration .
e entity,
cts each eople of eation of Board of ernance
neration tors and nnel.
y to the
eliveringand
remuneration report
11
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per
sona
l use
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OncoDirect30 Ju
Additi● r
b● a● l● e In accremun Non-eFees directoindepewith thcompahis ow Non-ebe gra ASX meetinshare ExecuThe Ghas bo The e● b● s● s● o The c StructExecuindividindivid Fixed NRC remun Execubenefoptima The sof exe('KPI'sachievprovidof app
Sil Medical tors' report ne 2017
onally, the rerewarding ebenchmarks;aligning the iinking rewarensuring tota
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ors' fees andendent remuhe market. Tarative roles
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ensure non-determined The chairma
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ance executal performan
shareholdersmance of therket standard
nce, the stru
ect the demby the NRC.-executive dindependentan is not pre
ent statutory f the shareho
ve directors' Annual Ge
director's fee
position and r
s four compo
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tal remunera
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annuation anance, the ove
r base emoent plans. It r the Group.
to align the tes based on d other KMPsures. The Gically the inc
ives' interestnce against
s; e Group; andds.
ucture of no
mands and r The NRC mirectors' feestly to the feeesent at any
superannuaolders.
remunerationeral Meetines payable to
responsibility
onents:
leave
ation.
ultancy basisment contract
nd non-moneerall perform
lument in a is intended t
targets of thespecific ann
P may be enGroup seekscorporation o
ts by: t targets se
on-executive
responsibilitiemay, from tims and payme
es of other nodiscussions
ation guarant
on be determng held on o non-execut
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s with remunt with remun
etary benefitmance of the
variety of fothat the man
e business unual targets ntitled to anns to emphasf incentive p
et by refere
director and
es of their me to time, ents are appon-executive
s relating to t
tee contribut
mined period26 Novembetive directors
el and mix of
neration andneration and
s, are reviewGroup and
orms includinner of paym
nits with the and key pernual bonuseise payment
payments bas
ence to app
d executive
role. Non-exreceive advipropriate ande directors bathe determin
tion. They m
dically by a er 2015, whs of $500,000
remuneratio
d terms stipu terms stipu
wed annuallycomparable
ing cash anment chosen
performancerformance ines payable ut for results sed on achie
propriate
director
xecutive ice from d in line ased on
nation of
may also
general here the 0.
on which
ulated in ulated in
y by the e market
d fringe n will be
e hurdle dicators
upon the through
evement
remuneration report continueD
OncoSil Medical Annual Report 2017
12
For
per
sona
l use
onl
y
OncoDirect30 Ju
The loto exeSharevaryinregulaexecu ConsoRemuincentbonusdetails Use oDuring VotingAt theThe C Detail AmouThe K● M Detail
2017 Non-EDirectDr Ch(chairDr RoDr MaMr MaRoge ExecuDirectMr Da OtherManaPersoMr ToMilice
Sil Medical tors' report ne 2017
ong-term inceecutives in oe Plan. Theseng from threeatory and cliutives during
olidated entituneration fortive paymens and incents of the earn
of remuneratig the financia
g and commee 2016 AGMCompany did
ls of remune
unts of remunKMP of the GMr Tom Milic
s of the remu
Executive tors:
hris Roberts rman) * oger Aston artin Cross **artin rs ***
utive tors: aniel Kenny
r Key agement onnel: om evic
Ltd
entives (‘LTIorder for thee share will ve to five yearnical measuthe year end
ty performanr certain indts are depentive paymentings and tota
ion consultanal year ende
ents made a, less than 2not receive
eration
neration Group consistcevic - Chief
uneration of
S Cash salar
and fees $
80,000
102,740* 25,57
26,255
410,000
254,300
898,866
’) include lone executive tvest upon sars. These KP
ures. The NRded 30 June
nce and link tividuals is dndent on dets are at theal shareholde
nts d 30 June 20
t the Compa2% voted agany specific
ted of the dirFinancial Of
KMP of the
Short-term be
ry
Cash bonus $
0
0 1
5
0 143,50
0
47,706 191,20
ng service leato subscribe atisfaction of PI's include, RC reviewed2017.
to remuneratdirectly linkedfined earnin
e discretion ers return for
017, the Gro
any's 2016 Anainst the adfeedback at
rectors of Onfficer and Co
Group are se
enefits
Non- moneta $
-
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8
ave and shafor ordinary
f long-term Kbut are not l
d the long-te
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up did not en
nnual Generoption of thethe AGM re
ncoSil Medicampany Secr
et out in the f
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benef
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$
-- 9,- 2,
- 1,
- 38,
- 24,- 76,
re-based payy shares in tKPI's as agrelimited to, an
erm equity-lin
rformance oe targets be. Refer to th
e years.
ngage the us
ral Meeting ('e remuneratigarding its re
al Ltd and theetary
following tab
t-ment fits
Long-tbene
er- Lon
servtion leav
$
-760 429
634
950
159 932
yments. Limthe Compan
eed with the en increase innked perform
f the Groupeing met. Thehe section 'A
se of remune
'AGM') on report foremuneration
e following p
bles.
term efits Shar
ng ice
Equsett
ve opti$
---
- 5
-
-- 5
ited recourseny under theexecutive, m
n shareholdemance incen
p. A portion e remaining Additional inf
eration consu
r the year en practices.
persons:
re-based pay
uity-tled
Eqse
ons sh$
-
20- 3-
6,261
22
- 47
-
86,261 1,03
e loans are ae OncoSil Emmeasured ove
rs’ value or tives specific
of cash bonportion of th
formation' be
ultants.
nded 30 Jun
yments
quity-ettled ares T$
08,000 231,614 1
-
29,297 3
79,200 1,0
85,029 433,140 2,2
awarded mployee er terms meeting cally for
nus and he cash elow for
ne 2016.
Total
$
288,000 144,114 28,000
313,447
071,650
411,188 256,399
13
For
per
sona
l use
onl
y
OncoDirect30 Ju
* T** A*** T
L Threrethe va
2016 Non-EDirectDr Ro(chairMr MaRogeDr Ch** ExecuDirectMr Da OtherManaPersoMr ToMilice * A** T
L The p Name Non-EDr RoMr MaDr ChDr Ma ExecuMr Da OtherPersoMr To
Sil Medical tors' report ne 2017
The remunerAppointed KMThe remunerLtd, until his
e were no shalue of the sh
Executive tors:
oger Aston rman) artin rs **
hris Roberts
utive tors: aniel Kenny
r Key agement onnel: om evic *
Appointed KMThe remunerLtd. The rem
roportion of
e
Executive Diroger Aston artin Rogers hris Roberts artin Cross
utive Directoaniel Kenny
r Key Managonnel: om Milicevic
Ltd
ration paymeMP during thration paymeresignation a
hares grantehares amortis
S Cash salar
and fees $
102,740
79,992
35,19
319,078
170,125
707,126
MP during thration payme
muneration pa
remuneratio
rectors:
ors:
gement
ents to Dr Chhe financial yents to Mr Mas KMP.
ed during thesed during th
Short-term be
ry
Cash bonus $
0
2
1
8 75,00
5
30,176 105,17
he financial yents to Mr Mayments to D
n linked to pe
Fixe 2017 1
hris Roberts wyear. Martin Rogers
e year underhe year unde
enefits
Non- moneta $
-
-
-
00
70
70
year. Martin RogersDr Chris Robe
erformance a
ed remunera7 2
78% 9%
28% 100%
42%
67%
9
were made t
s were made
r the Group'ser the Limited
Postemploym
benef
Supeary annuat
$
- 9,
- 7,
-
- 30,
- 16,- 63,
s were madeerts were ma
and the fixed
ation 2016
77% 36% 55%
-
54%
59%
to his directo
e to his direc
s Employee d Recourse L
t-ment fits
Long-tbene
er- Lon
servtion leav
$
760
392
-
312
162 626
e to his direcade to his dir
d proportion a
At risk2017
-- - -
13%
12%
or-related ent
ctor-related e
Share Plan Loan for eac
term efits Shar
ng ice
Equsett
ve opti$
-
- 7
-
-
-- 7
ctor-related erector-related
are as follow
k - STI 2016
- - - -
11%
10%
tity, Robertsp
entity, Struct
and the valuh KMP.
re-based pay
uity-tled
Eqse
ons sh$
-
3
4,135
7
-
2
- 22
-
94,135 46
entity, Structd entity, Rob
ws:
A 2017
%
%
plan Pty Ltd.
ture Investme
ue above rep
yments
quity-ettled ares T$
33,332 1
78,991 2
29,063
28,688 6
96,667 366,741 1,4
ture Investmeertsplan Pty
At risk - LTI7 20
22% 91% 72%
-
45%
21%
ents Pty
presents
Total
$
145,832
240,510
64,254
653,078
313,124 416,798
ents Pty Ltd.
016
23% 64% 45%
-
35%
31%
remuneration report continueD
OncoSil Medical Annual Report 2017
14
For
per
sona
l use
onl
y
OncoDirect30 Ju
The p Name ExecuMr Da OtherMr To ServicRemuDetail NameTitle: AgreeTerm Detai
NameTitle: AgreeTerm Detai
Key m Share Issue Thereended
Sil Medical tors' report ne 2017
roportion of t
e
utive Directoaniel Kenny
r Key Managom Milicevic
ce agreemeuneration ans of these ag
e:
ement commof agreemen
ls:
e:
ement commof agreemen
ls:
management
e-based com
of shares e were no shd 30 June 20
Ltd
the cash bon
ors:
gement Perso
ents d other termgreements a
menced: nt:
menced: nt:
personnel h
mpensation
hares issued 017.
nus paid/pay
onnel:
ms of emplore as follows
Danie Chief 5 Jan No fix Basereviebonuis a rHe ishare
Tom Chief 22 O No fix Basereviebonuis a rHe ishare
ave no entitl
to directors
yable or forfe
oyment for ks:
el Kenny f Executive Onuary 2015 xed term
e salary for thewed annualus up to 50%restraint peris eligible teholders.
Milicevic f Financial O
October 2015xed term
e salary for thewed annuallus up to 25%restraint peris eligible teholders.
lement to ter
and other k
10
ited is as fol
C
key managem
Officer and M
he year endinly by the NR of salary suiod of six moto participat
Officer and Co
he year endiny by the NR of salary suiod of six moto participat
rmination pay
key managem
lows:
Cash bonus 2017
70%
75%
ment person
Managing Dir
ng 30 June 2RC, six monubject to achionths endinge in the lo
ompany Sec
ng 30 June 2RC, three moubject to achionths endinge in the lo
yments in the
ment personn
paid/payable2016
75%
70%
nnel are form
rector
2017 of $410nths terminatevement of g on the datong term in
cretary
2017 of $254onths termina
evement of g on the datong term in
e event of re
nel as part o
e Cash 2017
%
%
malised in s
0,000 plus sution notice bKPI's as set e of termina
ncentive pla
4,300 plus suation notice bKPI's as set e of termina
ncentive pla
moval for mi
of compensa
h bonus forfe7 20
30%
25%
service agre
uperannuatioby either par
by the Boardation of empln as appro
uperannuatioby either parby the Board
ation of empln as appro
isconduct.
ation during t
eited 016
25%
30%
ements.
on, to berty, cash d. Thereoyment.
oved by
on, to be rty, cashd. Thereoyment.
oved by
the year
15
For
per
sona
l use
onl
y
OncoDirect30 Ju
EmploCertaiAccouduring Termsthe cu Name Danie Roge Chris Tom M The npart o Name Mr Ma AdditThe e ReveLoss The fa ShareBasic
Sil Medical tors' report ne 2017
oyee Share Pin employeeunting Standg the current
s and conditiurrent financi
e
el Kenny
r Aston
Roberts Milicevic
number of opf compensat
e
artin Rogers
tional informarnings of th
nue/income after income
actors that ar
e price at finac earnings pe
Ltd
Plan ('ESP') es have beendards, these
financial yea
ions of shareal year:
Number shares granted 14,000,0 12,000,0 1,000,0 500,0 500,0 10,000,0 5,000,0
ptions over otion during th
mation he Group for
e tax
re considere
ancial year eer share (cen
n issued limshares are
ar.
e based pay
of s d Grant d
000 10/05/2000 28/11/2000 28/11/2000 28/11/2000 28/11/2000 10/05/2000 13/01/2
ordinary sharhe year ende
the five year
d to affect to
end ($) nts per share
ited recoursaccounted f
ment arrang
date
2016 2014 2014 2014 2014 2016 2016
res vested aed 30 June 2
rs to 30 June
2
(8
otal sharehold
2
0e) (0
11
e loans to afor in a simi
ements affec
Expiry date 10/05/202128/11/201728/11/201731/12/201928/11/201610/05/202113/01/2019
and exercised017 are set o
e 2017 are su
2013 $ 87,711
879,168)
ders return (
2013
0.04 0.70)
acquire shareilar manner
cting the rem
d by directorout below:
ummarised b
2014 $
619,848(6,864,829)
'TSR') are su
2014
0.10 (1.40)
es in the Coas options.
muneration o
rs and other
Number ofoptionsgranted
during theyear 2017
below:
2015 $
3,028,01(2,879,03
ummarised b
2015
0.10 (0.81)
ompany. In aThere were
of key manag
Exercise $ $ $ $ $ $ $
r key manage
f Numbe option exercis
e during t year 2017
- 19,000
2016 $
4 4,14131) (4,768
below:
2016 0.14 (1.23
accordance we no shares
gement pers
Fair per
price at gra
$0.22 $0.13 $0.13 $0.18 $0.13 $0.22 $0.13
ement perso
r of Valns optsed exerthe durinr ye7 20
0,000 9
6 20
,691 3,78,598) (7,0
6 20
0.3) (1
with the granted
onnel in
value share
ant date $0.104 $0.047 $0.047 $0.056 $0.059 $0.104 $0.081
onnel as
ue of tions rcised ng the ear 017
950,000
017 $
721,582016,079)
017
.10 .49)
remuneration report continueD
OncoSil Medical Annual Report 2017
16
For
per
sona
l use
onl
y
OncoDirect30 Ju
Addit ShareThe nmana OrdinDr RoMr DaMr MaDr ChDr MaMr To * D
n OptionThe nmemb OptioMr Ma This c ShareThere ShareThe foof this Date 12 Ma IndemThe Cfor wh Duringthe Codisclo IndemThe CComp DuringComp
Sil Medical tors' report ne 2017
tional disclo
eholding number of sgement pers
nary shares oger Aston aniel Kenny artin Rogers hris Roberts artin Cross om Milicevic
Disposals/othnecessarily a
n holding number of opbers of key m
ns over ordinartin Rogers
concludes t
es under opte were no uni
es issued onollowing ordis report on th
options exer
ay 2017
mnity and inCompany hashich they may
g the financiompany agasure of the n
mnity and inCompany haspany or any r
g the financpany or any r
Ltd
osures relati
shares in thsonnel of the
*
her - represeactual dispos
ptions over omanagement
nary shares
the remuner
tion issued ordina
n the exercisnary shares
he exercise o
rcised
surance of s indemnifiedy be held pe
al year, the ainst a liabilitnature of the
surance of s not, duringrelated entity
cial year, therelated entity
ing to KMP
e Company Group, inclu
ents the holdsed.
ordinary shapersonnel o
ration report
ary shares o
se of optionof OncoSil M
of options gra
officers d the directorsonally liabl
Company paty to the exteliability and
auditor g or since they against a lia
e Company y.
held duringuding their pe
Balathe s
the
13,026,010,310,0
5,064,3
ding at the t
ares in the Cof the Group,
Balathe s
the
19,019,0
t, which has
of OncoSil Me
ns Medical Ltd wanted:
ors and execle, except wh
aid a premiuent permittedthe amount o
e end of the ability incurre
has not pai
12
g the financersonally rela
ance at Rstart of a
e year rem
016,547 000,000 312,532 000,000
-000,000 329,079
time of ceas
Company heincluding the
ance at start of
e year
000,000 000,000
s been audit
edical Ltd un
were issued
cutives for cohere there is
um in respecd by the Corof the premiu
financial yeaed by the aud
d a premium
cial year by ated parties,
Received as part of muneration
-------
sing to be a
eld during their personall
Granted
--
ted.
nder option o
during the y
osts incurreda lack of go
ct of a contrarporations Aum.
ar, indemnifiditor.
m in respect
each direct is set out be
Additions
1,000,0055,00
1,055,00
KMP within
e financial yy related par
Exercised
(19,000,00(19,000,00
outstanding a
year ended 3
, in their capod faith.
act to insurect 2001. The
ed or agreed
t of a contra
tor and otheelow:
Disposa othe
- - - (10,312-
00 00 00 (10,312
the consolid
year by eachrties, is set o
Expire forfeite
othe
00) 00)
at the date of
30 June 2017
Exerci price $
pacity as a d
the directore contract of
d to indemni
act to insure
er members
Balaals/ the er the
- 13,0- 26,0
,532)- 10,0- 1,0- 5,0
,532) 55,0
dated entity
h director anout below:
ed/ Balaed/ the er the
--
f this report.
7 and up to t
se Nume shares
$0.05 19,0
irector or ex
rs and execuf insurance p
ify the audito
e the audito
s of key
ance at end of year
016,547 000,000
- 000,000 000,000 055,000 071,547
and not
nd other
ance at end of year
- -
the date
mber of s issued
000,000
xecutive,
utives of prohibits
or of the
r of the
17
For
per
sona
l use
onl
y
OncoDirect30 Ju
ProceNo pebehalfrespo Non-aThere OfficeThere AuditA copimmed AuditCrowe This r2001. On be
_____Dr ChNon-E 24 AuSydne
Sil Medical tors' report ne 2017
eedings on berson has apf of the Comnsibility on b
audit servicee were no non
ers of the Coe are no office
tor's indepepy of the auddiately after t
tor e Horwath Sy
report is ma
ehalf of the d
__________hris Roberts Executive Ch
ugust 2017 ey
Ltd
behalf of thepplied to thempany, or tobehalf of the C
es n-audit servi
ompany whers of the Co
ndence decditor's indepethis directors
ydney contin
de in accord
irectors
___________
hairman
e Company e Court undeo intervene inCompany fo
ces provided
o are formeompany who
claration endence decs' report.
nues in office
dance with a
____
er section 23n any procer all or part o
d during the f
er partners o are former p
claration as r
e in accordan
a resolution
13
37 of the Coeedings to wof those proc
financial yea
of Crowe Hopartners of C
required und
nce with sect
of directors,
orporations Awhich the Coceedings.
ar by the aud
orwath SydnCrowe Horwa
er section 3
tion 327 of th
, pursuant to
Act 2001 forompany is a
itor.
neyath Sydney.
07C of the C
he Corporatio
o section 29
r leave to brparty for the
Corporations
ons Act 2001
98(2)(a) of th
ring proceede purpose o
s Act 2001 is
1.
he Corporati
dings on of taking
s set out
ons Act
Directors’ report
OncoSil Medical Annual Report 2017
18
For
per
sona
l use
onl
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Crowe Horwath Sydney is a member of Crowe Horwath International, a Swiss verein. Each member of Crowe Horwath is a separate and independent legal entity. Liability limited by a scheme approved under Professional Standards Legislation other than for the acts or omissions of financial services licensees.
14
Crowe Horwath Sydney ABN 97 895 683 573 Member Crowe Horwath International
Audit and Assurance Services
Level 15 1 O'Connell Street Sydney NSW 2000 Australia
Tel +61 2 9262 2155 Fax +61 2 9262 2190 www.crowehorwath.com.au
24 August 2017 The Board of Directors OncoSil Medical Ltd Suite 402, Level 4 50 Berry Street, NORTH SYDNEY NSW 2060
Dear Board Members
OncoSil Medical Ltd In accordance with section 307C of the Corporations Act 2001, I am pleased to provide the following declaration of independence to the Directors of OncoSil Medical Ltd. As lead audit partner for the audit of the financial report of OncoSil Medical Ltd for the financial year ended 30 June 2017, I declare that to the best of my knowledge and belief, that there have been no contraventions of:
(i) the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and
(ii) any applicable code of professional conduct in relation to the audit. Yours sincerely CROWE HORWATH SYDNEY
JOHN HAYDON Senior Partner
auDitor’s inDepenDence Declaration
19
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OncoStatemFor th
ReveOther ExpeEmploReseaOccuConsNet gNet loShareOther Loss Incom Loss Onco Other ItemsForeig Other Total Medic BasicDilute
Sil Medical ment of prohe year ende
The above
nue r income
nses oyee benefitsarch and devpancy expenulting, financain/(loss)on
oss on dispose-based paymr administrati
before inco
me tax expen
after incomoSil Medical
r comprehe
s that may begn currency
r comprehen
comprehencal Ltd
c earnings peed earnings p
Ltd ofit or loss aed 30 June 2
e statement o
s expense velopment exnses ce and legal financial asssal of assetsments ive expenses
ome tax exp
nse
me tax expenLtd
nsive incom
e reclassifiedtranslation
sive income
nsive incom
er share per share
nd other co2017
of profit or los
xpenses
expenses sets at fair vas
s
ense
nse for the y
me
d subsequent
for the year,
me for the ye
omprehensiv
ss and otheracc
alue through
year attribut
tly to profit or
, net of tax
ar attributab
ve income
r comprehenscompanying
15
profit or loss
table to the
r loss
ble to the ow
sive income notes
s
owners of
wners of On
Note
should be re
5
6
7
ncoSil
26 26
Ce 2017
$
ead in conjun
3,721
(4,461 (3,955 (206 (510 166 (94 (1,389 (285
(7,016
(7,016
(7,015
Cents ( (
onsolidated7 20
nction with th
,582 4,1
,551) (3,25,876) (3,36,265) (3,797) (7
6,261 (,218) (
9,772) (85,443) (3
6,079) (4,7
-
6,079) (4,7
460 (
460 (
5,619) (4,8
s Ce
(1.49)(1.49)
d016$
he
141,691
267,204)341,008)366,259)778,843)(26,918)(10,635)808,703)310,719)
768,598)
-
768,598)
(79,148)
(79,148)
847,746)
ents
(1.23)(1.23)
statement of profit or loss anD other comprehensive income
OncoSil Medical Annual Report 2017
20
For
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OncoStatemAs at
Asse CurreCash TradeFinanOtherTotal Non-cPlant Total Total Liabi CurreTradeEmploTotal Total Net a EquitIssueReseAccum Total
Sil Medical ment of fina30 June 20
The ab
ts
ent assets and cash eq
e and other rencial assets ar current asse
current asseand equipmnon-current
assets
lities
ent liabilitiese and other poyee benefitscurrent liabil
liabilities
assets
ty d capital rves mulated loss
equity
Ltd ancial positi17
bove stateme
quivalents eceivables at fair value t
ets
ets ent assets
s payables s lities
ses
on
ent of financi
through profi
ial position s
t or loss
should be rea16
ad in conjunc
Note
ction with the
8910 11
12
13 14
Ce 2017
$
e accompany
8,000 3,529 159 11,689 115 115 11,804
1,524 145 1,670 1,670
10,134
36,644 3,986 (30,496 10,134
onsolidated7 20
ying notes
0,618 9,79,388 2,6
- 3,29,399 19,405 15,8
5,471 5,471
4,876 15,8
4,275 95,792 10,067 1,0
0,067 1,0
4,809 14,8
4,596 35,66,430 2,5,217) (23,4
4,809 14,8
d016$
780,326 627,943 258,787 138,199 805,255
91,713 91,713
896,968
967,886 118,426 086,312
086,312
810,656
694,596 596,198 480,138)
810,656
statement of financial position
21
For
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OncoStatemFor th
Cons Balan Loss Other Total TransContrShare Balan Cons Balan Loss Other Total TransContrShare Balan
Sil Medical ment of chahe year ende
The ab
solidated
nce at 1 July
after incomer comprehen
comprehens
sactions withributions of ee-based paym
nce at 30 Jun
solidated
nce at 1 July
after incomer comprehen
comprehens
sactions withributions of ee-based paym
nce at 30 Jun
Ltd anges in equed 30 June 2
bove stateme
2015
e tax expensesive income
sive income f
owners in thequity, net of ments (note
ne 2016
2016
e tax expensesive income
sive income f
owners in thequity, net of ments (note
ne 2017
uity 2017
ent of change
e for the yeafor the year,
for the year
heir capacity transaction c27)
e for the yeafor the year,
for the year
heir capacity transaction c27)
es in equity s
ar , net of tax
y as owners:costs (note 1
ar , net of tax
y as owners:costs (note 1
should be rea17
2
13) 1
3
3
13)
3
ad in conjunc
Issuedcapital
$
23,806,347
--
-
11,888,249 -
35,694,596
Issuedcapital
$
35,694,596
--
-
950,000 -
36,644,596
ction with the
Reserves$
1,866,64
(79,14
(79,14
808,70
2,596,19
Reserves$
2,596,19
46
46
1,389,77
3,986,43
e accompany
Accumus losse
$
43 (18,711
- (4,76848)
48) (4,768
- 03
98 (23,480
Accumus losse
$
98 (23,480
- (7,01660
60 (7,016
- 72
30 (30,496
ying notes
latedTotales
,540) 6,9
8,598) (4,7- (
8,598) (4,8
- 11,8- 8
,138) 14,8
latedTotales
,138) 14,8
6,079) (7,0-
6,079) (7,0
- 9- 1,3
6,217) 10,1
equity$
961,450
768,598)(79,148)
847,746)
888,249 808,703
810,656
equity$
810,656
016,079)460
015,619)
950,000 389,772
134,809
statement of changes in equity
OncoSil Medical Annual Report 2017
22
For
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OncoStatemFor th
CashPaymDivideIntereResea Net ca CashPaymProce Net ca CashProceShare Net ca Net inCash Cash
Sil Medical ment of cashe year ende
The
flows fromments to suppends receiveest received arch and dev
ash used in o
flows fromments for propeeds from dis
ash from/(us
flows fromeeds from isse issue trans
ash from fina
ncrease/(decand cash eq
and cash eq
Ltd sh flows ed 30 June 2
e above state
operating apliers and emed
velopment ta
operating ac
investing aperty, plant asposal of liste
sed in) invest
financing asue of sharesaction costs
ancing activit
crease) in casquivalents at
quivalents at
2017
ement of cas
activities mployees
ax incentive
ctivities
activities and equipmeed securities
ting activities
activities s
ties
sh and cash the beginnin
the end of th
sh flows shou
ent s
s
equivalentsng of the fina
he financial y
uld be read i18
ancial year
year
in conjunction
Note
n with the ac
25
13 13
8
Ce 2017
$
ccompanying
(8,648 17 223 2,297 (6,109
(52 3,433 3,380
950 950
(1,779 9,780 8,000
onsolidated7 20
g notes
8,615) (6,37,937 13,387 17,446 1,5
9,845) (4,5
,890) (3,027
0,137 (
0,000 12,3- (5
0,000 11,8
9,708) 7,20,326 2,5
0,618 9,7
d016$
378,031)112,012 158,007 535,444
572,568)
(57,981)-
(57,981)
390,000 501,751)
888,249
257,700 522,626
780,326
statement of cash flows
23
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OncoNotes30 Ju
Note The fientity'prese OncoSoffice Suite 50 BeNorth A desnot pa The fidirecto Note 2 The pnotes New oThe GAccouAccouthe Gr Any n BasisTheseInterpapproStand HistorThe fithroug CriticaThe pmanahigherstatem ParenIn acSuppl PrincThe c30 Juare re
Sil Medical s to the finanne 2017
1. General i
nancial state) and the ented in Austr
Sil Medical Land principa
402, Level 4erry Street Sydney NSW
cription of thart of the fina
nancial stateors have the
2. Significan
principal accoor below. Th
or amendedGroup has aunting Standunting Standroup.
ew or amend
s of preparate general puretations isspriate for fo
dards as issu
rical cost connancial stategh profit or lo
al accountingpreparation ogement to er degree of ments, are di
nt entity infocordance wementary inf
iples of conconsolidated ne 2017 and
eferred to in t
Ltd ncial statem
nformation
ements coventities it conralian dollars
Ltd is a listeal place of bu
4
W 2060
he nature of tancial statem
ements were power to am
nt accountin
ounting polichese policies
d Accountingdopted all o
dards Boardards and Int
ded Account
tion rpose financsued by ther-profit oriened by the Int
nvention ements haveoss.
g estimates of the financ
exercise its jujudgement sclosed in no
ormation with the Corformation ab
nsolidation financial sta
d the results these financi
ments
r OncoSil Mentrolled at ths, which is O
ed public comusiness is:
the Group's oments.
e authorised mend and rei
ng policies
cies adopted s have been
g Standardsof the new od ('AASB') tterpretations
ting Standard
cial statemene Australian nted entities.ternational A
e been prepa
cial statemeudgement in or complexitote 3.
porations About the pare
atements incoof all subsidal statement
edical Ltd ashe end of, oncoSil Medic
mpany limite
operations a
for issue, inssue the fina
in the prepaconsistently
s and Interpor amended hat are ma did not hav
ds or Interpre
nts have beeAccounting
These finanAccounting St
ared under th
ents requiresthe process
ty, or areas
ct 2001, thent entity is d
orporate the diaries for thets as the 'Gro
19
s a Group conor during, thcal Ltd's func
ed by shares
nd its princip
n accordanceancial statem
aration of theapplied to a
retations adAccounting ndatory for
ve any signif
etations that
n prepared ig Standards ncial statemtandards Bo
he historical
s the use ofs of applying where assu
ese financiaisclosed in n
assets and e year then eoup'.
nsisting of Oe half-year
ctional and p
s, incorporate
pal activities
e with a resoments.
e financial stall the years p
doptedStandards athe current
ficant impact
are not yet m
n accordancBoard ('AA
ents also coard ('IASB').
cost conven
f certain critg the Group'sumptions an
al statementnote 23.
liabilities of ended. Onco
OncoSil Medic(the 'Group'resentation c
ed and dom
are included
olution of dire
atements arepresented, un
and Interprett reporting pt on the fina
mandatory h
ce with AustrASB') and tomply with In
ntion, except
tical accouns accountingnd estimates
ts present t
all subsidiaroSil Medical
cal Ltd (the '). The financurrency.
iciled in Aus
d in the direc
ectors, on 24
e set out eithnless otherw
tations issueperiod. The ncial perform
ave not been
ralian Accounhe Corporatnternational
for financial
ting estimatg policies. Ths are signific
the results o
ies of OncoSLtd and its s
Company' orncial stateme
stralia. Its re
ctors' report, w
4 August 20
her in the reswise stated.
ed by the Auadoption o
mance or po
n early adopt
nting Standations Act 20Financial Re
assets at fa
tes. It also rhe areas invcant to the f
of the Grou
Sil Medical Lsubsidiaries t
r 'parent ents are
gistered
which is
017. The
spective
ustralian of these sition of
ted.
ards and 001, as eporting
air value
requires olving a financial
up only.
Ltd as at together
notes to the financial statements
OncoSil Medical Annual Report 2017
24
For
per
sona
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OncoNotes30 Ju
Note 2 Subsiexposthrougtransf IntercUnreaAccouby the The awithoutransfattribu Wherecontrorecogor loss ForeigThe ficurren ForeigForeigtransatranslarecog ForeigThe areportexchadiffere The fo CurreAssets An asGroupafter ta liabi A liabprimaunconare cla Deferr
Sil Medical s to the finanne 2017
2. Significan
diaries are ased to, or hasgh its power erred to the
ompany tranalised lossesunting policiee Group.
cquisition of ut the loss oerred and t
utable to the
e the Groupolling interesnises the fais in profit or
gn currencyinancial statency.
gn currency tgn currency tactions. Foreation at finannised in prof
gn operationsassets and lting date. Thange rates, wences are rec
oreign curren
ent and non-s and liabiliti
sset is classp's normal opthe reportingility for at lea
bility is classirily for the p
nditional rightassified as n
red tax asset
Ltd ncial statem
nt accountin
all those ents rights to, vto direct theGroup. They
nsactions, ba are also elim
es of subsidi
subsidiariesof control, ishe book vaparent.
p loses contt in the subsr value of theloss.
y translationements are
transactions transactions eign exchanncial year-enfit or loss.
s liabilities of he revenues which approxcognised in o
ncy reserve i
-current clases are prese
ified as currperating cycl period; or th
ast 12 months
fied as currepurpose of tt to defer the
non-current.
ts and liabilit
ments
ng policies (
tities over wvariable reture activities ofy are de-cons
alances and minated unlearies have b
s is accountes accounted lue of the s
trol over a sidiary togethe considerat
n presented in
are translatnge gains and exchange
foreign operand expens
ximate the raother compre
s recognised
ssification ented in the s
rent when: ite; it is held phe asset is cs after the re
ent when: it trading; it is e settlement
ties are alwa
(continued)
which the Grrns from its if the entity. Ssolidated from
unrealised gess the transbeen change
ed for using tfor as an e
share of the
subsidiary, her with anytion received
n Australian
ed into Austand losses re rates of m
rations are es of foreigntes at the daehensive inc
d in profit or l
statement of
t is either exprimarily for tcash or casheporting perio
is either expdue to be of the liabilit
ays classified
20
roup has convolvement Subsidiariesm the date th
gains on trasaction provided where nec
he acquisitioequity transae non-contro
it derecogniy cumulative and the fair
dollars, whic
ralian dollarsresulting froonetary asse
translated inn operations ates of the traome through
loss when th
financial pos
xpected to bthe purpose equivalent uod. All other
pected to be settled withity for at leas
d as non-curr
ntrol. The Gwith the ent are fully cohat control ce
nsactions bedes evidencecessary to e
on method ofaction, whereolling interes
ises the asstranslation d
r value of any
ch is OncoS
s using the em the settleets and liabi
nto Australiaare translat
ansactions, fh the foreign
he foreign op
sition based
be realised oof trading; it
unless restricassets are c
settled in thn 12 montht 12 months
rent.
Group controity and has tnsolidated freases.
etween entitie of the impa
ensure consis
f accounting.e the differe
st acquired i
sets includindifferences ry investment
Sil Medical L
exchange ratement of sulities denom
an dollars used into Austfor the periodcurrency res
eration or ne
on current a
or intended t is expectedcted from be
classified as n
he Group's ns after the after the rep
ols an entity the ability to rom the date
ies in the Grairment of thstency with t
A change inence betweeis recognise
ng goodwill, recognised int retained tog
Ltd's function
tes prevailinguch transact
minated in for
sing the exctralian dollarsd. All resultinserve in equi
et investment
and non-curre
to be sold od to be realiseeing exchangnon-current.
normal operareporting peporting period
when the Gaffect those
e on which co
roup are elimhe asset tranthe policies a
n ownership en the consided directly in
liabilities ann equity. Thegether with a
nal and pres
g at the datetions and frreign currenc
change ratess using the ang foreign exty.
t is disposed
ent classifica
or consumeded within 12 ged or used t
ating cycle; iteriod; or therd. All other l
Group is e returns ontrol is
minated. nsferred. adopted
interest, deration n equity
nd non-e Group any gain
entation
es of the rom the cies are
s at the average xchange
d of.
ation.
d in the months to settle
t is held re is no iabilities
25
For
per
sona
l use
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OncoNotes30 Ju
Note 2 Plant Plant expen Depreover t Office The redate. An iteGroup LeaseThe drequirand th A distrisks aretains Operabasis ReseaReseaprobasell threliabl Emplo Short-Liabilireport Long-Emploexpecprojecdeparcorpo DefineContri GoodRevenrecoveof the Receirecovefinanc
Sil Medical s to the finanne 2017
2. Significan
and equipmand equipm
nditure that is
eciation is caheir expecte
e equipment
esidual value
em of propertp. Gains and
es determinationres an asseshe arrangem
tinction is maand benefitss substantial
ating lease pover the term
arch and dearch costs able that the
he asset; thely.
oyee benefi
-term employties for wagting date are
-term employoyee benefitscted future pcted unit crertures and perate bonds w
ed contributioibutions to de
ds and Servinues, expenerable from texpense.
vables and erable from,
cial position.
Ltd ncial statem
nt accountin
ment ment is stateds directly attr
alculated on ed useful lives
es, useful liv
ty, plant and losses betw
n of whetherssment of whent conveys
ade betweens incidental tlly all such ri
payments, nem of the leas
evelopment are expenseproject will b Group has
ts
yee benefits ges and sala
measured a
yee benefits s not expecte
payments to dit method. eriods of serwith terms to
on superannefined contri
ces Tax ('GSses and assthe tax autho
payables ar or payable
ments
ng policies (
d at historicaributable to th
a straight-lins as follows:
ves and dep
equipment iween the carr
r an arrangehether the ful
a right to us
n finance leao the ownersks and ben
et of any incse.
costs d in the per
be a successsufficient res
aries and otat the amoun
ed to be settbe made in Consideratio
rvice. Expectmaturity and
nuation expenbution super
ST') and othsets are recoority. In this
re stated incto, the tax a
(continued)
al cost less he acquisitio
ne basis to w
preciation me
s derecognisrying amount
ment is or clfilment of th
se the asset.
ases, which ership of leasefits.
centives rece
riod in whichs consideringsources; and
her employets expected
tled within 12respect of s
on is given tted future pad currency th
nse rannuation p
her similar tognised netcase it is rec
clusive of thauthority is i
21
accumulaten of the item
write off the
ethods are r
sed upon dist and the dis
contains a lee arrangeme
effectively traed assets, a
eived from th
h they are ig its commerd intent to co
ee benefits eto be paid w
2 months of services proto expected ayments are hat match, as
lans are exp
axesof the amou
cognised as
e amount ofincluded in o
d depreciatioms.
net cost of
3-15 ye
reviewed, an
sposal or whposal procee
ase is basedent is depend
ansfer from and operatin
he lessor, are
ncurred. Dercial and tecomplete the d
expected to when the liabi
the reportingovided by em
future wagediscounted
s closely as p
pensed in the
unt of assocpart of the c
f GST receiother receiva
on and impa
each item o
ears
nd adjusted i
en there is neds are taken
d on the subdent on the u
the lessor tog leases, un
e charged to
evelopment chnical feasibdevelopment
be settled wilities are set
g date are mmployees up e and salary using markepossible, the
e period in wh
ciated GST, cost of the ac
vable or payables or othe
airment. Hist
f property, p
if appropriate
no future econ to profit or
bstance of thuse of a spe
o the lessee nder which th
o profit or los
costs are cability; the Grot and its cost
wholly withinttled.
measured as to the repolevels, expe
et yields at th estimated fu
hich they are
unless the Gcquisition of
yable. The ner payables
torical cost i
plant and eq
e, at each re
onomic benefloss.
he arrangemecific asset o
substantiallyhe lessor eff
ss on a stra
apitalised whoup is able tots can be me
n 12 months
the present rting date us
erience of emhe reporting uture cash o
e incurred.
GST incurrethe asset or
net amount in the state
includes
uipment
eporting
fit to the
ment and r assets
y all the fectively
ight-line
hen it is o use or easured
s of the
value of sing the mployee date on utflows.
d is not r as part
of GST ement of
notes to the financial statements continueD
OncoSil Medical Annual Report 2017
26
For
per
sona
l use
onl
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OncoNotes30 Ju
Note 2 Cash activit Comm CompCertaiconsis New AAustramandassesare se AASBThis sprevioMeasube mecontraare toinitial incomentity'accouthe enImpairsignifinew dstatemreceivof prinat faceas the AASBThis ssinglethe traexpecimplieprice, perforapproCreditobligasatisfiobligashouldstatembetweto enathose adopt
Sil Medical s to the finanne 2017
2. Significan
flows are pties which are
mitments and
paratives in comparatstency with th
Accounting alian Accouatory, have
ssment of theet out below.
B 9 Financial standard is aous versionsurement'. AAeasured at aactual cash fo be classifierecognition t
me ('OCI'). Fos own credi
unting requirentity. New imrment will becantly since
disclosures. Tments on thvables that dncipal, whiche value. Oth
e group does
B 15 Revenuestandard is ae standard foansfer of procts to be entited) to be iden
adjusted formance obligach if no dist risk will beation would bed when the
ations satisfied be recogniment of finaneen the entityable users tocontracts; athis standar
Ltd ncial statem
nt accountin
presented one recoverabl
d contingenc
ives in the he current pe
Standards nting Standnot been ea
e impact of th
Instruments applicable tos of AASB 9ASB 9 introdamortised colows, which
ed and measto present gor financial it risk to be ements are inmpairment re measured u
initial recogThe Group whe basis thao not carry a in the case er financial a
s not carry th
e from Contrapplicable tor revenue reomised goodtled in exchantified, togetor the time gations on astinct observe presented be satisfied we service haed over time,ised as the pncial positioy's performano understandand any asserd from 1 July
ments
ng policies (
n a gross be from, or pa
ies are disclo
statement oeriod presen
and Interpreards and Inrly adopted hese new or
o annual repo9 and compuces new cla
ost, if it is hearise on spesured at fair ains and losliabilities, thpresented
ntended to mrequirementsunder a 12-mnition in whi
will adopt thisat the main a significant of trade rece
asset classeem at fair va
racts with Cuo annual repecognition. Thds or serviceange for thosther with the value of mo
a basis of reable prices eseparately
when the cuss been prov, an entity woperformancen as a contnce and the d the contracets recognisy 2018. It is n
(continued)
asis. The Gayable to the
osed net of t
of profit or ltation.
etations notnterpretationsby the Grouamended Ac
orting periodpletes the passification a
eld within a becified dates
value throusses on equite standard in OCI (unle
more closely s will use anmonth ECL mch case the
s standard frofinancial as
financing coeivables is ths are not ma
alue.
ustomers porting periodhe core princ
es to customse goods or s
separate peoney excludelative standexist; and reas an expenstomer obtai
vided, typicalould select a
e obligation istract liability,customer's p
cts with custosed from the not expected
22
GST compone tax authorit
he amount o
loss and oth
t yet mandats that havep for the annccounting St
ds beginningproject to reand measurebusiness moand solely pgh profit or ty instrumenrequires theess it wouldalign the accn 'expected method unleslifetime ECLom 1 July 20ssets recogn
omponent anhe transactioaterial to the
ds beginningciple of the s
mers in an amservices. Theerformance oing credit ris-alone sellin
ecognition of nse rather tins control olly for promisan appropriats satisfied. C, a contract payment. Suomers; the scosts to ob
d to significan
nents of casy, are presen
of GST recov
her compreh
tory or earlye recently bnual reportintandards and
g on or after place IAS 3ement modeldel whose orincipal and loss unless
nts (that are portion of t create an counting treacredit loss'
ss the credit L method is a018. It is not nised represd involve a s
on price. Bothgroup. Fina
g on or afterstandard is thmount that ree standard wobligations wsk; allocatio
ng price of erevenue whhan adjuste
of the goods.ses to transte measure o
Contracts witasset, or a
ufficient quansignificant judbtain or fulfil ntly impact th
sh flows arisnted as oper
verable from,
hensive inco
y adoptedbeen issued ng period endd Interpretatio
1 January 239 'Financials for financi
objective is tointerest. All othe entity mnot held-for-the change accounting
atment with t('ECL') modrisk on a fin
adopted. Theexpected to
sent cash asingle cash fh asset classncial liabilitie
r 1 January hat an entity eflects the c
will require: cowithin the conon of the traeach distincthen each perd to revenu. For servicefer services of progress tth customers
a receivable,ntitative and qdgements ma contract w
he financial s
sing from invrating cash fl
or payable t
ome have b
or amendeded 30 Juneons, most re
2018. The stl Instrumental assets. A o hold assetother financiakes an irretrading) in oin fair valuemismatch). he risk manadel to recog
nancial instrue standard insignificantly
and cash eqflow represeses will conties of the gro
2018. The swill recognis
considerationontracts (eithntract; determansaction prt good or serformance obe. For good
es, the perforto customer
to determines will be pres depending qualitative d
made in applywith a customstatements.
vesting or fiows.
to, the tax au
een reclass
ed but are e 2017. The elevant to the
tandard replts: Recognitfinancial ass
ts in order toal instrumen
evocable elecother compree that relatesNew simpleagement actignise an alloument has inntroduces ad
y impact the fquivalent annting the repnue to be meup are not im
standard prose revenue tn to which thher written, vmine the tranice to the s
ervice, or esbligation is sds, the performance obligrs. For perfo
e how much rsented in anon the rela
isclosure is rying the guidmer. The Gr
nancing
uthority.
ified for
not yet Group's
e Group,
aces all ion and set shall o collect nt assets ction on
ehensive s to the r hedge ivities of owance. creased dditional financial
nd trade payment easured mpacted
ovides a o depict
he entity verbal or nsaction separate timation
satisfied. ormance gation is ormance revenue
n entity's ationship required dance to roup will
27
For
per
sona
l use
onl
y
OncoNotes30 Ju
Note 2 AASBThis s117 'La 'righunavomonthaccouor losprepadismaleasedcosts)compaAmortor losboth athe stJuly 2 Note 3 The paffect relatioand amanaseldoma matfinanc ShareThe Ginstruminto aassumliabilit Fair vThe Gthe lowin actithan q3: Unovalue Note 4 IdentifThe GinternMakeropera The instatem
Sil Medical s to the finanne 2017
2. Significan
B 16 Leases standard is aLeases' and fht-of-use' asoidable futurehs or less aunting policy ss as incurryments, leas
antling costsd asset (incl). In the earared to leastisation) resus under AAS
a principal (fiandard does
2019 but the
3. Critical ac
preparation othe reported
on to assetsassumptionsgement beliem equal the terial adjustmcial year are
e-based paymGroup measuments at theaccount the mptions relaties within the
value measurGroup is requwest level ofive markets fquoted pricesobservable iand therefor
4. Operating
fication of repGroup operaal reports thrs ('CODM'))ting segmen
nformation rements are the
Ltd ncial statem
nt accountin
applicable to for lessees wsset will be e lease payand leases choice existsred. A liabilse incentives. Straight-linuded in opelier periods se expensesults will be imSB 16. For cnancing activs not substaimpact of its
ccounting ju
of the financd amounts in, liabilities, c
s on historiceves to be rerelated actuament to the discussed be
ment transacures the cose date at wh
terms and ing to equitye next annua
rement hierauired to classf input that isfor identical s included wnputs for there which cate
g segments
portable opeates in one sat are review) in assessin
nts.
eported to the same as th
ments
ng policies (
annual repowill eliminate
capitalised yments to be
of low-values whereby elity correspos received, ie operating
erating costsof the leases under AASmproved as tclassificationvities) and inntially changadoption is y
udgements,
ial statemen the financia
contingent liacal experieneasonable unal results. Thcarrying am
elow.
ctions st of equity-sich they are
conditions -settled shar
al reporting p
rchy sify all assets significant tassets or liaithin Level 1 e asset or liaegory the ass
erating segmsegment beiwed and useng performan
e CODM is ohat presented
(continued)
rting periodsthe classificin the state
e made overe assets (suither a 'right-onding to thnitial direct clease expen) and an int
e, the expensSB 117. Hothe operating
n within the snterest (eithege how a lesyet to be ass
, estimates a
nts requires mal statementsabilities, revence and onnder the cirche judgemenmounts of as
settled transagranted. Thupon which
re-based payperiod but ma
ts and liabilitto the entire
abilities that tthat are obs
ability. Considset or liability
ents ng the devic
ed by the Bonce and in d
on at least a d to the COD
23
s beginning ocations of opeement of finar the lease tuch as pers-of-use' assehe capitalisecosts incurrense recogniterest expensses associatowever EBITg expense isstatement of
er operating ossor accountsessed by th
and assump
managemens. Managemeenue and ex other vario
cumstances. nts, estimatesssets and li
actions with he fair value h the instruyments woulay impact pro
ties, measurfair value m
the entity canservable for tderable judgy is placed in
ce developmoard of Direcdetermining
monthly basDM.
on or after 1 erating leaseancial posititerm. The esonal compuet is recognised lease wied and an estion will be rse on the reted with the TDA (Earnins replaced byf cash flowsor financing ats for leasese Group.
ptions
t to make juent continualxpenses. Maous factors,The resultin
s and assumabilities (refe
employees is determine
uments wered have no imofit or loss an
red at fair vameasurementn access at the asset or l
gement is reqn can be subj
ment for newtors (who arthe allocatio
sis. The finan
January 201es and financon, measurexceptions reuters and smsed or lease ll also be rstimate of anreplaced witecognised le
lease undegs Before Iy interest ex, the lease pactivities) co. The Group
udgements, ely evaluates
anagement b, including ng accountingmptions that her to the re
by referenced by using e granted. Tmpact on thend equity.
alue, using a t, being: Levethe measureliability, eithequired to detjective.
w medical trere identified aon of resourc
ncial informa
19. The standce leases. Sued at the pelate to shormall office fpayments arrecognised, ny future resh a depreciaase liability r AASB 16 wnterest, Tax
xpense and dpayments wimponent. Fo
p will adopt t
estimates anits judgeme
bases its judexpectationsg judgementhave a signifspective not
e to the fair the Black-ScThe accoun carrying am
three level el 1: Quoted
ement date; Ler directly or termine what
eatments. Thas the Chief ces. There is
ation present
dard replaceubject to excresent valuert-term leasefurniture) whre expensed adjusted fo
storation, remation charge(included in will be highex, Depreciatdepreciation ill be separaor lessor accthis standard
nd assumptionts and estim
dgements, ess of future ts and estimaficant risk of tes) within t
r value of thecholes modeting estimat
mounts of ass
hierarchy, ba prices (una
Level 2: Inpuindirectly; ant is significan
his is basedf Operating Ds no aggreg
ted in these f
es AASB ceptions, e of the es of 12 here an to profit
or lease moval or e for the
finance er when ion and in profit
ated into ounting,
d from 1
ons that mates in stimates events,
ates will causing
the next
e equity el taking tes and sets and
ased on djusted)
uts other nd Level nt to fair
d on the Decision gation of
financial
notes to the financial statements continueD
OncoSil Medical Annual Report 2017
28
For
per
sona
l use
onl
y
OncoNotes30 Ju
Note ReseaDivideIntereNet (lOther Other AccouRevenmeasu ReseaThe rreseaassist RDTI Group RDTI costs developropo DivideDivide IntereIntereamortrate, wto the Other Other
Sil Medical s to the finanne 2017
5. Other inc
arch and devends est oss)/gain onr income
r income
unting policy nue is recognured. Reven
arch and devresearch andrch and devtance and the
are recognisp will comply
relating to cthat they a
opment expertion that can
ends end revenue
st st revenue istised cost of which is the net carrying
r income income is re
Ltd ncial statem
come
velopment ta
n foreign exch
for revenue nised when iue is measu
velopment tad developmevelopment ee accounting
sed at their fwith all attac
costs are defre intended enditure is nnot be reco
is recognise
s recogniseda financial arate that exa
g amount of t
ecognised wh
ments
ax incentive
hange
recognition it is probablered at the fa
ax incentive ent tax ince
expenditure ig policy adop
fair value whched conditio
ferred and reto compens
deducted agognised on ei
ed when it is
d as interest asset and alactly discounhe financial a
hen it is rece
e that the ecoir value of th
entive ('RDTincurred by
pted is analog
here there isons.
ecognised insate. The pgainst the cither of the p
received or w
accrues usilocating the
nts estimatedasset.
eived or when
24
onomic benee considerat
I') representthe Group.
gous to acco
s a reasonab
the profit orroportion of
carrying amoreceding bas
when the righ
ng the effecinterest inco
d future cash
n the right to
efit will flow ttion received
ts a refundaThe RDTI i
ounting for go
ble assurance
r loss over ththe incentiv
ount of the sis is recogn
ht to receive
ctive interest ome over theh receipts thr
o receive pay
o the Group d or receivab
able tax offsis considereovernment g
e that the in
he period neve that relatrelated non-ised in profit
payment is
method. Thie relevant perough the ex
yment is esta
C 2017 $ 3,446 17 223 (34 68 3,721
and the revele.
set that is aed to be a frants.
centive will b
ecessary to mtes to capita-current asst or loss.
established.
is is a methoeriod using txpected life o
ablished.
onsolidated7 20
6,185 3,87,937 13,387 1,183)
8,256
,582 4,1
enue can be
available on form of gove
be received
match them alised reseasets. Any re
od of calculathe effective of the financi
d016$
832,889 112,012 158,007 34,250
4,533
141,691
e reliably
eligible ernment
and the
with the rch and maining
ating the interest al asset
29
For
per
sona
l use
onl
y
OncoNotes30 Ju
Note Loss DepreOffice EmploEmploDefine Total RentaMinim Note NumeLoss Tax a Tax e
ReShOtFuIm
Incom Tax loUnuse Poten The alossesis pas AccouThe inapplictempo
Sil Medical s to the finanne 2017
6. Expenses
before incom
eciation e equipment
oyee benefitsoyee benefitsed contributi
employee be
al expense remum lease pa
7. Income ta
erical reconcbefore incom
at the statuto
effect amountesearch and hare-based pthers uture income
mpact of tax r
me tax expen
osses not reced tax losses
ntial tax bene
above potents can only bessed.
unting policy ncome tax e
cable incomeorary differen
Ltd ncial statem
s
me tax includ
ts (excluding s on superann
enefits expen
elating to opeayments
ax
ciliation of incme tax expen
ry tax rate of
ts which are developmen
payments
e tax benefit nrate change
nse
cognised s for which n
efit @ 27.5%
tial tax benee utilised in t
for income texpense or
e tax rate for nces, unused
ments
des the follow
share-based
nuation expe
nse
erating lease
come tax expnse
f 27.5% (201
not deductibnt - write bac
not brought t
no deferred ta
(2016: 30%
efit for tax losthe future if t
tax benefit for each jurisdic
d tax losses a
wing specific
d payments)
nse
es
pense and ta
6: 30%)
ble/(taxable) ck
to account
ax asset has
)
sses has nothe continuit
the period iction, adjusteand the adjus
25
expenses:
ax at the statu
in calculating
s been recog
ot been recoy of ownersh
is the tax ped by the chastment recog
utory rate
g taxable inc
nised
gnised in thhip test is pa
payable on tanges in defgnised for pr
come:
e statement assed, or fail
that period'sferred tax asrior periods, w
C 2017 $ 29 4,103 357 4,461 179
C 2017 $ (7,016 (1,929 1,225 382 30 158 132
C 2017 $ 6,356 1,747
of financial ing that, the
taxable incsets and liabwhere applic
onsolidated7 20
9,132
3,620 3,07,931 1
,551 3,2
9,417 3
onsolidated7 20
6,079) (4,7
9,422) (1,4
5,092 72,187 20,951 18,758 32,434
-
onsolidated7 20
6,239 5,2
7,966 1,5
position. Thsame busin
come based bilities attribucable.
d016$
21,357
072,133 195,071
267,204
342,547
d016$
768,598)
430,579)
706,965 242,611 107,480 373,523
-
-
d016$
297,360
589,208
hese tax ess test
on the utable to
notes to the financial statements continueD
OncoSil Medical Annual Report 2017
30
For
per
sona
l use
onl
y
OncoNotes30 Ju
Note Deferrthe asexcep● W
tn
● Wtf
Deferrfuture The ctax asthe caproba Deferragainsautho Note Cash Cash AccouCash liquid cash a Note 9 OtherResea AccouOther
Sil Medical s to the finanne 2017
7. Income ta
red tax assessets are rept for: When the detransaction tnor taxable pWhen the taxthe timing offoreseeable f
red tax asse taxable amo
carrying amossets recognarrying amouble that there
red tax assest current tarity on either
8. Current a
at bank on deposit
unting policy and cash eqinvestments
and which ar
9. Current a
r receivablesarch and dev
unting policy receivables
Ltd ncial statem
ax (continue
ets and liabilcovered or
eferred incomhat is not a
profits; or xable tempof the reversafuture.
ets are recogounts will be
ount of recogised are red
unt to be rece are future t
ets and liabiax liabilities ar the same ta
assets - cash
for cash andquivalents ins with originare subject to
assets - trad
s velopment ta
for trade andare recognis
ments
ed)
ities are recoliabilities are
me tax asset business co
orary differenal can be co
gnised for deavailable to
gnised and uuced to the
covered. Pretaxable profi
lities are offand deferredaxable entity
h and cash
d cash equivcludes cash
al maturities an insignific
de and other
ax incentive r
d other receised at amort
ognised for te settled, ba
or liability armbination an
nce is assocontrolled and
eductible temutilise those
unrecognisedextent that it
eviously unrets available t
fset only whd tax assets
or different t
equivalents
valents on hand, debetween thr
cant risk of ch
r receivables
receivable
ivables ised cost, les
26
temporary dased on thos
rises from thnd that, at th
iated with ind it is probab
mporary diffee temporary d
d deferred tat is no longe
ecognised deto recover th
ere there is against defe
taxable entiti
s
eposits held ree and six mhanges in va
s
ss any provis
ifferences atse tax rates
e initial recohe time of th
terests in suble that the
erences and differences a
ax assets areer probable theferred tax ahe asset.
a legally enerred tax liabies which inte
at call with fmonths that aalue.
sion for impa
t the tax ratethat are en
gnition of goe transaction
ubsidiaries, atemporary d
unused tax and losses.
e reviewed ahat future taxassets are re
nforceable ribilities; and end to settle
financial instare readily c
airment.
es expected acted or sub
oodwill or an n, affects ne
associates odifference wi
losses only
at each repoxable profits ecognised to
ight to offsethey relate t simultaneou
C 2017 $ 7,890 110 8,000
titutions, otheconvertible to
C 2017 $ 83 3,446 3,529
to be appliebstantively e
asset or liabeither the acc
r joint venturll not revers
if it is proba
orting date. Dwill be avail
the extent t
t current taxto the same usly.
onsolidated7 20
0,618 9,60,000 1
0,618 9,7
er short-termo known amo
onsolidated7 20
3,203 36,185 2,2
9,388 2,6
ed when enacted,
bility in acounting
res, andse in the
able that
Deferred lable for that it is
x assets taxable
d016$
673,276 107,050
780,326
m, highly ounts of
d016$
330,497 297,446
627,943
31
For
per
sona
l use
onl
y
OncoNotes30 Ju
Note Listed ReconRecoout be OpenFair vDispo Closin Refer AccouInvestinitial either the ac Finanbeen t FinanFinansellingare mhedginrecog ImpairThe Ggroupbreaceconobankrdata in The aamoufinanc Note PrepaOther
Sil Medical s to the finanne 2017
10. Current
d shares - de
nciliation nciliation of telow:
ing fair valuevalue movemosals
ng fair value
to note 17 fo
unting policy tments and omeasuremeamortised c
cquisition and
cial assets atransferred a
cial assets acial assets ag in the shor
managed on ng instrumenised in prof
rment of finaGroup assess of financial h of contrac
omic or legauptcy or othndicating tha
amount of thent and the p
cial assets.
11. Current
ayments r deposits
Ltd ncial statem
assets - fin
esignated at f
the fair value
e ment
or further info
for investmeother financi
ent, except focost or fair vd subsequen
are derecognand the Grou
at fair value that fair value thrt-term with aa fair value nts, derivativfit or loss.
ancial assets ses at the enassets is im
ct such as dal reasons ther financial r
at there is a m
e impairmenpresent value
assets - oth
ments
ancial asset
fair value thr
es at the beg
ormation on
ents and otheial assets aror financial aalue depend
nt reclassifica
nised when up has transf
hrough profithrough profitan intention o
basis or to ves are also
nd of each rmpaired. Objedefault or dehat the lendreorganisatiomeasurable d
t allowance e of estimate
her
ts at fair val
rough profit o
inning and e
fair value me
er financial are initially meassets at faiding on their ation to other
the rights toferred substa
t or loss t or loss are of making a eliminate o
o categorise
eporting perective evide
elinquency inder would noon; the disapdecrease in
for financial ed future ca
27
lue through
or loss
end of the cu
easurement.
assets easured at fir value throclassificatio
r categories
o receive casantially all the
either: (i) heprofit; or (ii) r significantled at fair va
riod whether nce includes
n payments; ot otherwiseppearance ofestimated fu
assets carriesh flows, dis
profit or los
rrent financia
fair value. Trugh profit or
on. Classificais restricted.
sh flows frome risks and re
ld for tradingdesignated
y reduce analue through
there is anys significant the lender do; it becof an active mture cash flo
ed at cost isscounted at
ss
al year is set
ransaction cor loss. They
ation is deter
m the financewards of ow
g, where theyas such upo
n accountingh profit or lo
y objective evfinancial diffgranting to
omes probabmarket for thows.
s the differenthe current
C 2017 $
t
3,258 (126 (3,131
osts are inclare subseq
rmined based
ial assets hawnership.
y are acquireon initial reco mismatch.
oss. Fair val
vidence thatficulty of the a borrower ble that the he financial a
nce between market rate
C 2017 $ 90 69 159
onsolidated7 20
- 3,2
8,787 3,56,944) (,843) (3
- 3,2
luded as parquently measd on the pur
ave expired
ed for the purognition, wheExcept for elue moveme
t a financial aissuer or ob
concessionsborrower w
asset; or obs
the asset's of return for
onsolidated7 20
0,145 9,254
9,399 1
d016$
258,787
597,675 (37,704)301,184)
258,787
rt of the sured at rpose of
or have
rpose of ere they effective ents are
asset or bligor; a s due to will enter servable
carrying r similar
d016$
68,945 69,254
138,199
notes to the financial statements continueD
OncoSil Medical Annual Report 2017
32
For
per
sona
l use
onl
y
OncoNotes30 Ju
Note TradePayroOther Refer AccouThesewhichamou Note Ordin Movem Detai BalanOptioEmploEmploShareEmploOptioPlaceOptioOptioEmploOptioOptioTrans BalanEmploOptio Balan OrdinaOrdinapropoComp On a share
Sil Medical s to the finanne 2017
12. Current
e payables oll liabilities r payables
to note 16 fo
unting policy e amounts re are unpaidnts are unse
13. Equity -
ary shares -
ments in ord
ls
nce ns exercisedoyee loan shoyee loan shes buy-back oyee loan shns exercised
ement issue ons exercisedns exercisedoyee loan shns exercisedns exercised
saction cost
nce oyee loan shns exercised
nce
ary shares ary shares ertion to the n
pany does no
show of hanshall have o
Ltd ncial statem
liabilities - t
or further info
for trade andepresent liabd. Due to thecured, non-i
issued cap
fully paid
dinary share c
d hares issued hares exercis
hares issued d of shares d d hares issued d d
hares issued d
entitle the hnumber of anot have a lim
nds every meone vote.
ments
trade and ot
ormation on
d other payabilities for gooeir short-ternterest bear
ital
capital
sed
older to parnd amounts pited amount
ember prese
ther payable
financial inst
ables ods and servm nature thing and are u
rticipate in dpaid on the sof authorised
ent at a meet
28
es
truments.
vices providehey are meausually paid
48
Date
1 July 20158 October 28 October 2 14 Decembe13 January 21 January 10 February10 February15 April 20110 May 20113 May 20130 June 201 30 June 20112 August 212 May 201 30 June 201
dividends anshares held. d capital.
ting in perso
ed to the Groasured at amwithin 60 da
2017Shares
87,455,468
015 015
er 2015 2016 2016
y 2016 y 2016 6 6 6
16
16 2016 7
17
d the proceThe fully pai
on or by prox
oup prior to tmortised cosys of recogn
Cons2016
Shares
464,455,46
Shares
356,162,461,250,002,307,69
(6,000,0014,230,76
500,0045,454,548,000,00
250,0024,000,008,000,00
10,300,00
464,455,464,000,00
19,000,00
487,455,46
eds on the d ordinary sh
xy shall have
C 2017 $ 901 597 25 1,524
the end of thst and are nnition.
solidated 2017 $
68 36,644
Issue p
60 00 $93 $
- $00) $69 $00 $46 $00 $00 $00 $00 $00 $
- $
68 00 $00 $
68
winding up hares have n
e one vote a
onsolidated7 20
,276 27,950 65,049
4,275 9
he financial ynot discounte
7 20
4,596 35,6
price
23,8$0.05 $0.00$0.00 9$0.00$0.00$0.05 $0.22 10,0$0.05 4$0.05 $0.00$0.05 4$0.05 5$0.00 (5
35,6$0.22 $0.05 9
36,6
of the Comno par value
nd upon a p
d016$
216,698 662,961 88,227
967,886
year and ed. The
016$
694,596
$
806,347 62,500
-975,000
--
25,000 000,000 400,000 12,500
-400,000 515,000 501,751)
694,596 -
950,000
644,596
mpany in and the
oll each
33
For
per
sona
l use
onl
y
OncoNotes30 Ju
Note ShareThere CapitaThe Gsustaireturn Capitaas tota The G The c AccouOrdina Incremfrom t Note ForeigShare ForeigThe reoperaopera ShareThe rremunand ot
Sil Medical s to the finanne 2017
13. Equity -
e buy-back e is no curren
al risk managGroup's policin future dev
n of capital.
al is regardedal borrowing
Group is not s
apital risk ma
unting policy ary shares a
mental costs the proceeds
14. Equity -
gn currency e-based paym
gn currency reserve is ustions to Austions.
e-based paymreserve is usneration undether parties a
Ltd ncial statem
issued cap
nt on-market
gement cy is to maintvelopment of
d as total eqs less cash a
subject to an
anagement p
for issued caare classified
directly attris.
reserves
reserve ments reserv
reserve sed to recogntralian dollar
ments reservsed to recoer an Emploas part of the
ments
ital (continu
share buy-b
tain a strongthe busines
uity, as recoand cash equ
ny financing a
policy remain
apital as equity.
butable to th
ve
nise exchangrs. It is also
ve gnise the vayee Share Peir compensa
ued)
back.
g capital bass. Given the
ognised in theuivalents.
arrangement
ns unchange
he issue of n
ge differenceused to reco
alue of equPlan; directoration for serv
29
se so as to mstate of the
e statement
ts covenants
ed from the 3
new shares o
es arising froognise gains
ity benefits rs on terms dvices.
maintain inveGroup's dev
of financial p
s or externally
30 June 2016
or options are
om the transand losses
provided to:determined b
estor, creditovelopment th
position, plus
y imposed ca
6 Annual Rep
e shown in e
slation of theon hedges o
: employeesby the Board
or and markehere are no fo
s net debt. N
apital require
port.
equity as a d
C 2017 $ (78 4,065 3,986
e financial stof the net inv
s and directod and approv
et confidenceormal targets
et debt is ca
ements.
eduction, ne
onsolidated7 20
,688) (5,118 2,6
6,430 2,5
tatements ofvestments in
ors as part ved by share
e and to s set for
alculated
et of tax,
d016$
(79,148)675,346
596,198
f foreign n foreign
of their holders;
notes to the financial statements continueD
OncoSil Medical Annual Report 2017
34
For
per
sona
l use
onl
y
OncoNotes30 Ju
Note MovemMovem Cons BalanForeigShare BalanForeigShare Balan Note There Note FinanThe Grisk meffectswhichrisk. Risk m('the procereport Marke ForeigThe G Price The Gcompalocatio The fa IntereThe Gand flo The cin notepossibmonth
Sil Medical s to the finanne 2017
14. Equity -
ments in resments in eac
solidated
nce at 1 July gn currency e-based paym
nce at 30 Jungn currency e-based paym
nce at 30 Jun
15. Equity -
e were no div
16. Financia
ncial risk maGroup's activmanagement s on the fina it is expose
managementBoard'). Thedures, controts to the Boa
et risk
gn currency rGroup is not e
risk Group was earative perioons.
air value of th
st rate risk Group's main oating rate d
arrying valuee 8. The effeble change inhly issued ca
Ltd ncial statem
reserves (c
erves ch class of re
2015 translation ments
ne 2016 translation ments
ne 2017
dividends
vidends paid,
al instrumen
anagement ovities expose
program focancial performed. These m
t is carried oese policies ols and risk rd on a mon
risk exposed to s
exposed to sod. Such risk
he Group's in
interest ratedeposits.
e of the Grouect a 100 (20n basis point
ash rate over
ments
continued)
eserve during
, recommend
nts
objectives it to a variet
cuses on themance of theethods inclu
out by senior include ide
limits. Financthly basis.
significant for
securities prk was mana
nvestments a
e risk arises f
up's cash an016: 100) basts was basedr the past five
g the current
ded or declar
ty of financiae unpredictae Group. Thede sensitivity
r finance exeentification ace identifies,
reign currenc
rice risk on aged through
as at the end
from cash at
nd cash equivsis point inted on the anae years.
30
t and previou
red during th
al risks: markability of finae Group usey analysis in
ecutives ('finaand analysis, evaluates fi
cy risk.
investmentsh diversificat
d of compara
t bank and sh
valents at therest rate chalysis of the a
us financial y
he current or
ket risk, credancial marketes different mn the case of
ance') under s of the riskinancial risks
s held for tration of inves
ative period a
hort term dep
e reporting dange is detaaverage chan
year are set o
Foreign currency
$
(79,14
(79,1446
(78,68
previous fina
dit risk and lits and seek
methods to mf interest rat
policies appk exposure s within the G
ading over tstments acro
are detailed i
posits The po
date, subjectiled below. Tnge of the R
out below:
Share-ba payme $
- 1,86648)
- 808
48) 2,67560
- 1,389
88) 4,065
ancial year.
iquidity risk. s to minimis
measure diffete and agein
proved by theof the Grou
Group's oper
he medium oss industrie
n note 10.
olicy is to ma
t to interest rThe method eserve Bank
ased nts To
6,643 1,8- (
8,703 8
5,346 2,5-
9,772 1,3
5,118 3,9
The Group'sse potential erent types og analysis fo
e Board of Dup and apprating units.
to long termes and geog
aintain a mix
rate risk are used to arriv
k of Australia
otal $
866,643 (79,148)808,703
596,198 460
389,772
986,430
s overall adverse
of risk to or credit
Directors propriate Finance
m in the raphical
x of fixed
detailed ve at the a ('RBA')
35
For
per
sona
l use
onl
y
OncoNotes30 Ju
Note
Cons Cash
Cons Cash CrediCreditGroupsettingexposimpairGroup The c LiquidVigilanequiva The Gcash f The Gleases RemaThe fobeen financcontra
Cons Non-dNon-iTradePayroOtherTotal
Sil Medical s to the finanne 2017
16. Financia
solidated - 2
and cash eq
solidated - 2
and cash eq
it risk t risk refers p. The Groug appropriatesure to creditrment of thosp does not ho
redit risk on
dity risk nt liquidity alents) to be
Group managflows and ma
Group's objes and equity
aining contracollowing tabledrawn up b
cial liabilities actual maturi
solidated - 2
derivatives interest bearie payables oll liabilities r payables non-derivativ
Ltd ncial statem
al instrumen
017
quivalents
016
quivalents
to the risk thp has a strice credit limitt risk at the rse assets, aold any colla
liquid funds
risk manageable to pay
ges liquidity atching the m
ective is to mfunding.
ctual maturites detail the
based on theare requiredties and ther
017
ring
ves
ments
nts (continu
Basis po
chang
Basis po
chang
hat a countect code of cts. The Groureporting datas disclosed teral.
is limited bec
ement requdebts as and
risk by mainmaturity profi
maintain a b
ties Group's reme undiscound to be paid. refore these
ed)
Basis poi
oints ge
Effeprofit
t
100
Basis poi
oints ge
Effeprofit
t
100
erparty will dcredit, includup obtains gte to recogniin the statem
cause the co
ires the Grd when they
ntaining adeqles of financ
alance betw
maining contted cash floThe tables itotals may d
1 yea
95
1,5
31
ints increasect on t before tax
E
80,006
ints increasect on t before tax
E
97,803
default on itsing obtaining
guarantees wsed financiament of finan
ounter party i
roup to maibecome due
quate cash rial assets an
ween continu
ractual matuows of finannclude both
differ from the
ar or lessBan
$
901,276 597,950 25,049
524,275
e
Effect on equity
80,006
e
Effect on equity
97,803
s contractual g agency cr
where approl assets is thncial position
is a bank wit
ntain sufficie and payabl
reserves by nd liabilities.
uity of fundin
urity for its fincial liabilitiesinterest and
eir carrying a
Between 1 nd 2 years
$
----
B
Basis pointchange
(10
B
Basis pointchange
(10
obligations redit informapriate to mit
he carrying an and notes
h high credit
ent liquid ae.
continuously
ng and flexib
nancial instrus based on principal ca
amount in the
Between 2and 5 years
$
asis points
ts Effect profit be
tax
00) 80
asis points
ts Effect profit be
tax
00) 97
resulting in ation, confirmtigate credit amount, net oto the financ
t rating.
assets (main
y monitoring
bility through
ument liabilitithe earliest
ash flows disce statement o
2 s
Over 5 y $
- - - -
decreaseon
efore Effeeq
0,006
decreaseon
efore Effeeq
7,803
financial losming referenc
risk. The mof any proviscial statemen
nly cash an
actual and f
h the use of
ies. The tabldate on wh
closed as reof financial p
years
Remcontrmat
- 9- 5-- 1,5
ect on quity
80,006
ect on quity
97,803
s to the ces and aximum
sions for nts. The
nd cash
forecast
finance
es have hich the maining
position.
maining ractual urities $
901,276 597,950 25,049
524,275
notes to the financial statements continueD
OncoSil Medical Annual Report 2017
36
For
per
sona
l use
onl
y
OncoNotes30 Ju
Note
Cons Non-dNon-iTradePayroOtherTotal The cabove Note Fair vThe fohierarLevel measuLevel or indLevel Cons AssetFinaninvestTotal There AccouWhenfair vabetweprincip Fair vassumhighesavailaunobs Assetssignifitransfvalue For renot avand reanalyswhere
Sil Medical s to the finanne 2017
16. Financia
solidated - 2
derivatives interest bearie payables oll liabilities r payables non-derivativ
cash flows ine.
17. Fair valu
value hierarchollowing tabrchy, based o
1: Quoted purement date2: Inputs othirectly 3: Unobserv
solidated - 2
ts ncial assets atments assets
e were no tra
unting policy n an asset oralue is basedeen market ppal market; o
value is meaming they acst and best
able to measservable inpu
s and liabilitcance of theers betweenmeasureme
ecurring and vailable or weputation. Wsis is underte applicable,
Ltd ncial statem
al instrumen
016
ring
ves
n the maturity
ue measurem
hy bles detail thon the lowestprices (unade her than quo
vable inputs f
016
at fair value t
nsfers betwe
for fair valuer liability, finad on the priceparticipants or in the abse
asured usingct in their eco
use. Valuatsure fair valuuts.
ties measuree inputs use
n levels are dnt.
non-recurrinhen the valu
Where there aken, which with externa
ments
nts (continu
y analysis a
ment
he Group's at level of inp
djusted) in ac
oted prices in
for the asset
through profi
een levels du
e measuremeancial or none that would at the measence of a pri
g the assumonomic bestion techniquue, are used
ed at fair valed in makingdetermined b
ng fair value uation is deeis a significaincludes a v
al sources of
ed)
1 yea
26
9
bove are no
assets and lut that is signctive market
ncluded with
t or liability
t or loss -
uring the fina
ent n-financial, isbe received
surement dancipal marke
mptions that t interests. Fues that are d, maximisin
ue are classg the measubased on a r
measurememed to be siant change verification odata.
32
ar or lessBan
$
216,698 662,961 88,227
967,886
ot expected t
liabilities, menificant to thets for identic
in Level 1 th
ancial year.
s measured to sell an as
ate; and asset, in the mos
market partFor non-finan
appropriate g the use o
sified, into thurements. Creassessmen
ents, externaignificant. Exin fair value
of the major
Between 1 nd 2 years
$
----
to occur sign
easured or de entire fair v
cal assets or
hat are obser
Level 1 $
3,258,787 3,258,787
at fair valuesset or paid tumes that thst advantage
ticipants woncial assets,
in the circuf relevant ob
hree levels, uClassificationsnt of the lowe
al valuers maxternal value of an asseinputs applie
Between 2and 5 years
$
nificantly ear
disclosed atvalue measur liabilities th
rvable for the
Level 2$
e for recognito transfer a he transactioeous market.
uld use whethe fair valu
umstances abservable in
using a fair vs are reviewest level of in
ay be used wers are selectt or liability ed in the late
2 s
Over 5 y $
- - - -
rlier than con
t fair value, urement, beinhat the entity
e asset or lia
Level $
-
-
tion or discloliability in an
on will take
en pricing thue measuremnd for whichputs and mi
value hierarcwed at each nput that is s
when internated based onfrom one peest valuation
years
Remcontrmat
- 2- 6-- 9
ntractually di
using a threng: y can acces
ability, either
3 To
- 3,2- 3,2
osure purposn orderly tranplace either
he asset or ment is baseh sufficient dinimising the
chy that reflereporting d
significant to
al expertise n market knoeriod to anon and a com
maining ractual urities $
216,698 662,961 88,227
967,886
isclosed
ee level
s at the
r directly
otal $
258,787 258,787
ses, the nsaction r: in the
liability, ed on its data are e use of
ects the ate and
o the fair
is either owledge ther, an parison,
37
For
per
sona
l use
onl
y
OncoNotes30 Ju
Note CompThe abelow ShortPost-eShare Note Duringaudito Audit Audit Note 2 On 16Theratarget pSiMeTransthe Prsumm ● Onc ● Onctrials a (i) Duother perforthis pa20% w (ii) 20third pprotecand co
Sil Medical s to the finanne 2017
18. Key man
pensation aggregate cow:
-term employemploymente-based paym
19. Remune
g the financior of the Com
services - Cor review of
20. Conting
6 April 201apeutics Limited brachythe
edica has graction (with roduct in the
marised below
coSil UK is re
coSil UK is reand becomin
ring the termproduct prot
rmed using tayment musworld-wide m
% of any forparty licensincted by the rountry-by-co
Ltd ncial statem
nagement p
mpensation
yee benefits t benefits ments
eration of au
ial year the mpany:
Crowe Horwathe financia
ent liabilitie
3, OncoSil ited "OncoSerapy produc
ranted to Olimited rights
e field of thew:
equired to ma
equired to mng registered
m of the licentected by thethe Product t be made w
market share
rm of considng deals andrights arisingountry basis.
ments
personnel di
made to dire
uditors
following fee
th Sydney l statements
es
Medical Ltdil UK"). Oncct for the trea
ncoSil UK as to sub-licenrapy in hum
ake a payme
ake the follod for sale.
nce, 8% of fue rights arisinor such othe
whenever appof sales, on
eration, paymd various othg from the As
sclosures
ectors and o
es were paid
d settled thecoSil UK holatment of can
an exclusivense) under than neoplasti
ent of up to U
wing payme
uture net salng from the Aer products, proved genea country-by
ments, royalher agreemessigned Pate
33
ther membe
d or payable
e acquisitionlds a licencencer ('the Pro
world-wide he Licensed ic disease (c
US$100,000
nts for paten
les (future saAssigned Paton a produc
eric competitoy-country and
ties, third paents with thirdents, for the
rs of key ma
e for service
n of OncoSe to commeoduct') unde
royalty-beaPatents sole
cancer). Key
to pSiMedica
nts and subje
ales which ctents (if soldct-by-producor products dd product-by
arty net salesd parties in term of the
anagement p
es provided
Sil Medical (rcialise Onc
er a licence a
ring license ely to make, y terms of th
a annually to
ect to the Pro
cannot be gu by OncoSil t and countrderived from
y-product bas
s income anrelation to thpSiMedica l
personnel of
C 2017 $ 1,090 76 1,089 2,256
by Crowe H
C 2017 $ 45
(UK) LimitedcoSilTM (formagreement fro
for the termuse, sell, offe license ag
o support exi
oduct comple
uaranteed) ofUK or its aff
ry-by-countrym the Producsis.
d other paymhe Product oicence, on a
the Group is
onsolidated7 20
0,066 86,932 9,401 5
6,399 1,4
orwath Sydn
onsolidated7 20
5,000
d (formerly erly BrachySom pSiMedic
m of the pSfer to sell andgreement hav
sting patents
eting positive
f the Producfiliates) and sy basis. Onlyct maintain at
ments receivor any other a product-by-
s set out
d016$
812,296 63,626
540,876
416,798
ney, the
d016$
35,500
Enigma SilTM), a ca.
SiMedica d import ve been
s; and
e clinical
ct or any services y half of t least a
ved from product
-product
notes to the financial statements continueD
OncoSil Medical Annual Report 2017
38
For
per
sona
l use
onl
y
OncoNotes30 Ju
Note 2 (iii) Ponow o - Oncaggrean ind - aggrto Onc - aggrto Onc Termi UnlesagainsOncoScountr ● the countrcountr ● ten Assign In addhave t The d Note 2 LeaseCommWithinOne t Operaleasesannua Note 2 ParenOncoS SubsiIntere
Sil Medical s to the finanne 2017
20. Conting
otential milesor in the futur
coSil UK, its gate net sale
dication and (
regate net sacoSil UK, its
regate net sacoSil UK, its
ination of lice
s terminatedst pSiMedicaSil UK's rightry-by-country
date on whry is no longry; and
years from tned Patents
dition, if Oncthe right to te
irectors are n
21. Commit
e commitmenmitted at the n one year to five years
ating lease cs expiring onal basis to ref
22. Related
nt entity Sil Medical L
idiaries sts in subsid
Ltd ncial statem
ent liabilitie
stone paymere (ranging fr
affiliates anes of the Pro(ii) a second
ales of the Paffiliates and
ales of the Paffiliates and
ence agreem
d early for rea in certain cts to exploit y and produc
ich the prodger covered
the date of fiin such coun
coSil UK reaserminate the
not aware of
ments
nts - operatinreporting da
commitmentn 28 Februaflect market
party transa
Ltd is the par
diaries are se
ments
es (continue
ents based orom US$1,00
d any of Onoduct and anindication;
roduct and ad third party
roduct and ad third party
ment
easons such circumstancethe product
ct-by-product
uct or any oor protected
rst commercntry.
sonably formlicense agre
f any other co
ng ate but not re
ts include coary 2021, witrentals.
actions
rent entity.
et out in note
ed)
only upon the00,000 to US
ncoSil UK's tny other prod
any other protransferees
any other protransferees
as a materiaes (including
and any otht basis, until
other producd by a poten
cial sale of a
ms the view teement by gi
ommitments
cognised as
ontracted amh, in some c
e 24.
34
e Product beS$5,000,000)
third party trduct protecte
oduct protectin a calenda
oduct protectin a calenda
al breach, orby OncoSil Uer products the later to o
ct protected bntial claim of
product or a
hat it is not civing 60 days
or contingen
liabilities, pa
mounts for ccases, option
eing a comm) upon:
ransferees toed by the righ
ted by the rigr year of US$
ted by the rigr year of US$
r by pSiMedUK), the termarising from occur of:
by the rightsf the License
any other pro
capable of cs prior written
ncies as at 3
ayable:
commercial ns to extend
ercial succes
ogether potehts arising fr
ghts arising f$20,000,000
ghts arising f$100,000,00
ica due to a m of the licen
the Assigne
s arising fromed Patents o
oduct protect
commercialisn notice to p
30 June 2017
premises ud. The lease
ss, which ca
entially achierom the Assi
from the Ass0 or more; an
from the Ass00 or more.
patent challnce for the Lied Patents, r
m the Assignor the Assign
ted by the rig
ing OncoSilTSiMedica.
7.
C 2017 $ 131 350 481
nder non-ca payments a
annot be gua
eving US$5,0gned Patent
signed Patennd
signed Paten
lenge being censed Pate
remain in effe
ned Patents ned Patents
ghts arising f
TM, OncoSil U
onsolidated7 20
,319 10,185 4
,504 6
ancellable opare increase
aranteed
000,000 ts, for (i)
nts, paid
nts, paid
brought ents and ect on a
in such in such
from the
UK shall
d016$
131,319 481,504
612,823
perating d on an
39
For
per
sona
l use
onl
y
OncoNotes30 Ju
Note 2 Key mDisclodirecto TransPaymfinanc Paymduring ReceiThere LoansThere TermsAll tra Note 2 Set ou Statem Loss Total Statem Total Total Total Total Equity
IssShAc
Total GuaraThe p
Sil Medical s to the finanne 2017
22. Related
management osures relatinors' report.
sactions with ent of Direct
cial year of $8
ent of Directg the financia
ivable from ae were no tra
s to/from relae were no loa
s and conditinsactions we
23. Parent e
ut below is th
ment of profi
after income
comprehens
ment of finan
current asse
assets
current liabil
liabilities
y sued capital hare-based pccumulated l
equity
antees enterearent entity h
Ltd ncial statem
party transa
personnel ng to key m
related partitor's fees to 80,000 (2016
tor's fees to al year of $27
and payable tde receivabl
ated parties ans to or from
ions ere made on
entity inform
he suppleme
it or loss and
e tax
sive income
ncial position
ets
lities
payments resosses
ed into by thhad no guara
ments
actions (con
management
ies Dr Chris Ro
6: $35,191).
Mr. Martin 7,889 (2016:
to related paes from or tr
m related par
n normal com
mation
entary informa
d other compr
n
serve
e parent entiantees in rela
ntinued)
personnel a
oberts, were
Rogers, wer $87,384).
arties rade payable
rties at the cu
mmercial term
ation about t
rehensive in
ity in relationation to the d
35
are set out i
e made to hi
re made to h
es to related
urrent and pr
ms and condi
the parent en
come
n to the debtsdebts of its s
n note 18 a
s director-re
his director-r
parties at the
revious repo
itions and at
ntity.
s of its subsidubsidiaries a
and the remu
elated entity,
related entity
e current and
rting date.
market rates
diaries as at 30 June
uneration re
Robertsplan
y, Structure I
d previous re
s.
2017 $ (6,756 (6,756
2017 $ 12,266 12,381 1,660 1,660 36,644 4,065 (29,987 10,721
e 2017 and 3
port included
n Pty Ltd du
Investments
eporting date
Parent7 20
6,309) (4,5
6,309) (4,5
Parent7 20
6,486 16,1
,957 16,2
0,120 1,0
0,120 1,0
4,596 35,65,118 2,6,877) (23,2
,837 15,1
30 June 2016
d in the
uring the
Pty Ltd
e.
016$
568,728)
568,728)
016$
130,302
222,015
083,641
083,641
694,596 675,346 231,568)
138,374
6.
notes to the financial statements continueD
OncoSil Medical Annual Report 2017
40
For
per
sona
l use
onl
y
OncoNotes30 Ju
Note 2 ContinThe p CapitaThe p SignifiThe afollow● I● D
i Note 2 The caccord Name OncoOncoOncoOnco Note 2 Loss AdjusDepreShareForeig(GainLoss Chan
IncIncInc
Net ca Note 2 Loss
Sil Medical s to the finanne 2017
23. Parent e
ngent liabilitiearent entity h
al commitmearent entity h
ficant accounaccounting powing:
nvestments Dividends rendicator of a
24. Interests
consolidateddance with th
e
Sil Medical USil Medical GSil Medical USil Medical N
25. Reconci
after income
stments for: eciation and e-based paymgn exchange)/loss on finaon disposal o
ge in operaticrease in othcrease in tracrease in em
ash used in o
26. Earning
after income
Ltd ncial statem
entity inform
es had no conti
ents - Properthad no capita
nting policiesolicies of the
in subsidiarieceived from an impairmen
s in subsidi
financial she accountin
UK Limited Germany GmUS Inc. NZ Limited
iliation of lo
e tax expense
amortisationments e differencesancial assetsof assets
ing assets anher operatingade and othemployee bene
operating ac
s per share
e tax attributa
ments
mation (cont
ngent liabiliti
rty, plant andal commitme
s e parent enti
es are accousubsidiaries
nt of the inve
aries
tatements inng policy des
mbH
oss after inc
e for the yea
n
s at fair value
nd liabilities: g assets r payables efits
ctivities
able to the ow
tinued)
ies as at 30 J
d equipmentents for prope
ty are consis
unted for at cs are recognestment.
ncorporate tscribed in not
ome tax to n
ar
e through pro
wners of Onc
36
June 2017 a
erty, plant an
stent with th
cost, less anyised as othe
the assets, te 2:
Principal Country o
United KinGermanyUnited StaNew Zeala
net cash us
ofit or loss
coSil Medica
nd 30 June 2
nd equipmen
ose of the G
y impairmener income by
liabilities an
place of buof incorpora
ngdom
ates and
ed in operat
al Ltd
2016.
nt as at 30 Ju
Group, as dis
t, in the parey the parent
nd results o
siness /ation
ting activitie
une 2017 and
sclosed in no
ent entity. entity and its
of the follow
Own 2017 % 100. 100. 100. 100.
es
C 2017 $ (7,016 29 1,389 (166 94 (1,024 556 27 (6,109
C 2017 $ (7,016
d 30 June 20
ote 2, excep
s receipt ma
wing subsidi
nership inter7 20
00% 1000% 1000% 1000% 10
onsolidated7 20
6,079) (4,7
9,132 9,772 8
460 (6,261)4,218
,842) (1,26,389 57,366
9,845) (4,5
onsolidated7 20
6,079) (4,7
016.
t for the
ay be an
aries in
rest016%
00.00% 00.00% 00.00% 00.00%
d016$
768,598)
21,357 808,703 (79,148)26,918 10,635
222,414)576,738 53,241
572,568)
d016$
768,598)
41
For
per
sona
l use
onl
y
OncoNotes30 Ju
Note 2 Weigh Weigh BasicDilute Option Accou Basic Basic any coduring DiluteDilutethe afweighordina Note 2 The GparticivestinGrouprecouno cas The foarrang
Sil Medical s to the finanne 2017
26. Earning
hted average
hted average
c earnings peed earnings p
ns have not b
unting policy
earnings peearnings pe
osts of servig the financia
d earnings pd earnings pfter income thted averageary shares.
27. Share-b
Group's Empipants are gr
ng period as p. Dividends rse loan hassh settlemen
ollowing shargement:
Ltd ncial statem
s per share
e number of
e number of
er share per share
been include
for earnings
er share er share is ccing equity o
al year, adjus
per share per share adtax effect of e number of
ased payme
ployee Shareranted sharestated in thare for the
s been repaidnt alternative
re-based pay
ments
(continued)
ordinary sha
ordinary sha
ed in the dilut
s per share
calculated byother than orsted for bonu
djusts the figinterest andshares assu
ents
e Plan (‘ESPes which onlye below tabbenefit of thd. Shares isss.
yment transa
)
ares used in c
ares used in c
ted earnings
y dividing therdinary shareus elements
ures used in other financumed to hav
P’) is designey vest if certale. The issue employee.sued under t
actions occu
37
calculating b
calculating d
s per share c
e profit attribes, by the win ordinary s
n the determcing costs asve been issu
ed as an incain performae price is fu. Employeesthe ESP are
rred during t
basic earning
diluted earnin
alculation as
butable to theweighted avershares issued
mination of bassociated wiued for no c
centive for sence standard
ully financed s are not per
accounted f
the reporting
gs per share
ngs per share
s they are an
e owners of rage numbed during the f
asic earningsith dilutive poconsideration
enior managds are met. Oby a limited
rmitted to defor in a simila
period purs
Numb 470,597
e 470,597
Cents ( (
nti-dilutive.
OncoSil Mer of ordinaryfinancial yea
s per share totential ordinn in relation
ers and aboOnce granted recourse loeal in the shaar manner as
uant to the li
ber Num
7,934 387,6
7,934 387,6
s Ce
(1.49)(1.49)
edical Ltd, exy shares outsar.
to take into nary shares to dilutive p
ove. Under thd the sharesoan providedares until thes options. Th
imited recou
mber
676,751
676,751
ents
(1.23)(1.23)
xcluding standing
account and the
potential
he plan, s have a d by the e limited here are
rse loan
notes to the financial statements continueD
OncoSil Medical Annual Report 2017
42
For
per
sona
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onl
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OncoNotes30 Ju
Note 2 2017
Gran (a) Em29 Ap
* Varannive
2016
Gran Gran Gran Gran
(a) Thshare (b ) Toshare to twoApril 2 (c) Dashares * Varannive
** The
*** Th
Sil Medical s to the finanne 2017
27. Share-b
7
nted 12 Augu
mployees wepril 2014.
ious operatiersary of em
6
nted 8 Octob
nted 13 Janu
nted 13 Janu
nted 10 May
hree employeholders on 2
om Milicevic plan approv
o senior exec2014.
aniel Kenny s respectivel
ious operatiersary of em
ere are 4 sepTranche 1Tranche 2Tranche 3Tranche 4
he vesting co
Tranche 1shareholdTSR is caon the issconsecutiv
Ltd ncial statem
ased payme
ust 2016 (a)
ere issued 4,
onal milestoployment – 5
er 2015 (a)
uary 2016 (b)
uary 2016 (b)
2016 (c)
ees were iss29 April 2014
(CFO and Cved by sharecutives of th
(CEO and Mly as per the
onal milestoployment – 5
parate loan tr shares will
2 shares will 3 shares will 4 shares will
onditions atta
1 - 1,500,000der returns (Talculated usinsue date for ve trading da
ments
ents (contin
Number
4,000,000
,000,000 sha
ones and co5 year loan.
Numbe
2,307,6
) 769,2
) 14,230,7
24,000,0
sued 769,2314.
Company Seceholders on 2e Company
Managing Direxisting em
ones and co5 year loan.
ranches eachvest automavest automavest automavest automa
ached to the 5
0 shares whiTSR) in respeng the averagthe relevant
ays concludin
ued)
r Grant da
0 12/08/20
ares as per t
ontinuous em
r Grant
683 8/10
231 13/01
769 13/01
000 10/05
1 shares res
cretary) was 29 April 2014as per the e
rector) and Dployee loan s
ontinuous em
h representinatically upon atically upon atically upon atically upon
5,000,000 sh
ch will vest aect of holdingge closing sht shares as ng on the rel
38
ate Expdat
016 30/06/
the existing e
mployment
t date E
0/2015 8/
1/2016 13/
1/2016 13/
5/2016 10/
spectively as
issued an a4. An additioexisting emp
Dr Chris Robshare plan a
mployment w
ng 25% of thOncoSilTM toOncoSilTM toOncoSilTM toOncoSilTM to
hares issued
automaticallyg ordinary shhare price ovcompared toevant calcul
piry te
ExePr
/2021
employee lo
with the co
Expiry date
E
/10/2018
/01/2019
/01/2019
/05/2021
per the exis
dditional 4,2nal 10,000,0
ployee loan s
berts (Directoapproved by s
with the com
e total numbtal revenue rtal revenue rtal revenue rtal revenue r
to Tom Milic
y (within 4 yehares in Oncver the perioo the averagation date.
ercise rice $
Faigr
0.22
an share pla
mpany until
Exercise Price
$ 0.13
0.13
0.13
0.22
sting employ
30,769 share000 shares (5share plan a
or) were issushareholders
mpany until
ber of sharesreaching a creaching a creaching a creaching a c
cevic are as
ear period frocoSil Medicalod of 30 consge closing sh
r value at rant date
$ 0.096
an approved
the applica
Fair value agrant date
$ 0.10
0.08
0.08
0.10
ee loan shar
es under exi5,000,000 eaapproved by
ued 14,000,0s 29 April 20
the applica
s as disclosedumulative totumulative totumulative totumulative tot
following;
om date of isl Ltd equallinsecutive tradhare price ov
Vesting condition
*
by sharehol
ant reaches
at e
Vestinconditio
02 *
81 *
81 *
04 **
re plan appr
sting employach ***) wereshareholder
000 and 10,014.
nt reaches
d; tal of at leasttal of at leasttal of at leasttal of at least
ssue) when tng 175% - whing days conver the perio
ns
lders on
the 4th
ng ons
oved by
yee loan e issued rs on 29
000,000
the 3rd
t $10m. t $15m t $30m t $50m
the total here the ncluding od of 30
43
For
per
sona
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onl
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OncoNotes30 Ju
Note 2
Set ou 2017 Grant 04/06 2016 Grant 04/06 The 1● 10,● 3,0● 3,0● 3,0 The w The w(2016 Sharefollow Grant 12/0810/0513/0128/1128/1128/11
Sil Medical s to the finanne 2017
27. Share-b
Notwithstadate of iss
Tranche 2below) whcalculatedissue datconsecutivTSR, the T
Tranche 3continuou
ut below are
t date V
6/2013 0
t date E
6/2013 0
9,000,000 op000,000 opti000,000 optio000,000 optio000,000 optio
weighted ave
weighted ave: 1 year).
e options werws:
t date E
8/2016 35/2016 1/2016 1/2014 2/2014 3/2014 2
Ltd ncial statem
ased payme
anding the asue of the Tr
2 – 1,500,000hen the TSRd using the ae for the reve trading dTranche 2 sh
3 – 2,000,000s employme
summaries o
Vesting date
03/06/2017
Expiry date
03/06/2017
ptions aboveions vested ions vest if thons vest if thons vest if th
rage share p
erage remain
re priced usi
Expiry date
30/06/2021 0/05/2021 3/01/2019
28/11/2017 31/12/2019 28/11/2016
ments
ents (contin
chievement anche 1 sha
0 shares whiR in respect average closielevant shardays concludhares will no
0 shares whint with the C
of options gr
Exerc price $
Exerc price $
e have variouimmediately
he Company'he Company'he Company'
price during t
ning contrac
ng a Black-S
Share p at grant $ $ $ $ $ $
ued)
of this TSR, ares.
ich will vest aof holding o
ing share prires as compding on the t vest until th
ch will vest aCompany.
ranted:
Balaise the se the
$0.05 19,019,0
Balaise the se the
$0.05 19,019,0
us vesting coon grant dats shares trads shares trads shares trad
the financial
tual life of o
Scholes prici
price Exedate p
$0.14 $0.15 $0.12 $0.08 $0.08 $0.08
39
the Tranche
automaticallyordinary sharice over the pared to therelevant cal
he expiry of 1
automatically
ance at start of
e year
000,000 000,000
ance at start of
e year
000,000 000,000
onditions as fte; de at or abovde at or abovde at or abov
year was $0
options outst
ing model in
ercise Eprice
$0.22 $0.22 $0.13 $0.13 $0.18 $0.13
e 1 shares w
y (within 4 yeres in the Coperiod of 30e average cculation date1 year from t
y when Mr To
Granted
--
Granted
--
follows:
ve 10 cents fve 15 cents fve 20 cents f
.1185 (2016
tanding at th
puts to deter
Expected volatility
99.00% 99.00% 99.00%
109.80% 109.80% 109.80%
will not vest u
ear period froompany equ consecutiveclosing share. Notwithsthe date of is
om Milicevic
Exercised
(19,000,00(19,000,00
Exercised
for 10 consefor 10 consefor 10 conse
: $0.1675).
he end of the
rmine the fai
Dividendyield
- - - - - -
ntil the expir
om date of isalling 250%
e trading dayre price oveanding the a
ssue of the T
reaches his
Expire forfeite
othe
00) 00)
Expire forfeite
othe
- -
cutive days; cutive days; cutive days.
e financial y
ir value at th
Risk-fr interest 2. 2. 1. 2. 2. 2.
ry of 1 year f
ssue) (but su- where the
ys concludinger the periodachievementranche 2 sha
4th annivers
ed/ Balaed/ the eer the
--
ed/ Balaed/ the eer the
- 19,0- 19,0
and
year was 11
he grant date
ree Fair rate at gra
50% 50% 95% 50% 50% 50%
from the
ubject to e TSR is g on the d of 30 t of this ares.
sary of
ance at end of year
- -
ance at end of year
000,000 000,000
months
e, are as
value ant date
$0.096 $0.104 $0.081 $0.047 $0.056 $0.059
notes to the financial statements continueD
OncoSil Medical Annual Report 2017
44
For
per
sona
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onl
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OncoNotes30 Ju
Note 2 TermsThe lolimited(a) the(b) the In addloan, t AccouEquity Equitythe re The cusing of diluand ththe Gcondit The cvestinbest erecogrecog Markeare cosatisfi If equAn advalue If the canceperiod If equexpennew a Note 2 No mGroup
Sil Medical s to the finanne 2017
27. Share-b
s of limited reoan issued ad to the lessoe outstandinge market valu
dition, wherethe company
unting policy y-settled sha
y-settled tranndering of se
cost of equitythe Black-S
ution, the shahe risk free inroup receivetions.
cost of equityng period. Thestimate of tnised in profnised in prev
et conditions onsidered to ed.
ity-settled awdditional expof the share
non-vesting ellation. If thed, any remain
ity-settled awnse is recognaward is treat
28. Events a
atter or circup's operation
Ltd ncial statem
ased payme
ecourse loanare limited ror of: g balance of ue of the loa
e the participy must accep
for share-baare-based co
nsactions areervices.
y-settled trancholes optioare price at nterest rate fes the servic
y-settled tranhe cumulativthe number ofit or loss forvious periods
are taken invest irrespe
wards are mense is reco-based comp
condition is e condition ning expense
wards are canised immedted as if they
after the rep
umstance has, the results
ments
ents (contin
n arrangemenrecourse suc
the loan; ann shares on
pant has elecpt the loan sh
ased paymenmpensation
e awards of
nsactions aren pricing mogrant date afor the term o
ces that entit
nsactions are charge to of awards thr the period is.
nto consideraective of whe
modified, as aognised, ovepensation be
within the cois not withine for the awa
ancelled, theydiately. If a ny were a mod
porting perio
as arisen sins of those op
ued)
nt ch that on th
d that date.
cted for the lhares as full
nts benefits are
shares, or o
e measured odel that takeand expectedof the optiontle the emplo
re recogniseprofit or los
hat are likelys the cumula
ation in deterether or not th
a minimum aer the remainenefit as at th
ontrol of the Gn the controlard is recogn
y are treatedew replacemdification.
od
nce 30 Juneperations, or
40
he repaymen
loan shares settlement o
provided to
options over
at fair valuees into accoud price volatin, together woyees to rec
d as an exps is calculate
y to vest andative amount
rmining fair vhat market c
an expense ining vesting he date of mo
Group or em of the Grou
nised over the
d as if they hament award is
e 2017 that hthe Group's
nt date the r
to be providof the repaym
employees.
shares, that
e on grant dunt the exercility of the un
with non-vestieive paymen
pense with aed based ond the expiredt calculated a
value. Therefcondition has
is recognisedperiod, for aodification.
mployee, the up or emploe remaining
ad vested ons substituted
has significastate of affa
repayment o
ded to the coment obligatio
are provide
ate. Fair valcise price, thnderlying shaing conditionnt. No accou
a correspondn the grant dd portion of at each repo
fore any awas been met,
d as if the many modifica
failure to satoyee and is vesting perio
n the date of d for the can
antly affectedirs in future f
obligation un
ompany in fuon under the
d to employe
ue is indepehe term of thare, the expe
ns that do nount is taken o
ding increasedate fair valuthe vesting
orting date le
ards subject tprovided all
modification hation that inc
tisfy the condnot satisfied
od, unless th
cancellationcelled award
d, or may sigfinancial yea
der the loan
ull satisfactio loan.
ees in excha
endently detee option, theected dividet determine wof any other
e in equity oue of the awperiod. The
ess amounts
to market coother conditi
has not beencreases the t
dition is treatd during the e award is fo
n, and any red, the cance
gnificantly afrs.
n will be
on of the
ange for
ermined e impact nd yield whether
r vesting
over the ward, the
amount already
onditions ions are
n made. total fair
ted as a vesting
orfeited.
maining lled and
ffect the
45
For
per
sona
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onl
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OncoDirect30 Ju
In the ● t
C ● t
I ● t
2 ● t
a The d Signe On be
_____Dr ChNon-E 24 AuSydne
Sil Medical tors' declarane 2017
directors' op
the attachedCorporations
the attached nternational
the attached 2017 and of
there are reaand payable.
irectors have
d in accorda
ehalf of the d
__________hris Roberts Executive Ch
ugust 2017 ey
Ltd ation
pinion:
financial stas Regulations
financial staAccounting
financial staits performan
asonable gro.
e been given
ance with a re
irectors
___________
hairman
atements ans 2001 and o
atements andStandards B
atements annce for the fi
unds to belie
n the declara
esolution of d
____
nd notes comother mandat
d notes compBoard as des
d notes givenancial year
eve that the C
tions require
directors ma
41
mply with thetory professi
ply with Intercribed in not
e a true and r ended on th
Company wi
ed by section
de pursuant
e Corporationonal reportin
rnational Finte 2 to the fin
fair view of hat date; and
ill be able to
n 295A of the
to section 29
ns Act 2001ng requireme
ancial Reponancial statem
the Group's d
pay its debts
e Corporation
95(5)(a) of th
, the Accounents;
rting Standaments;
financial po
s as and whe
ns Act 2001.
he Corporatio
nting Standa
rds as issue
osition as at
en they beco
ons Act 2001
ards, the
d by the
30 June
ome due
1.
Directors’ Declaration
OncoSil Medical Annual Report 2017
46
For
per
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Crowe Horwath Sydney is a member of Crowe Horwath International, a Swiss verein. Each member of Crowe Horwath is a separate and independent legal entity. Liability limited by a scheme approved under Professional Standards Legislation other than for the acts or omissions of financial services licensees.
42
Crowe Horwath Sydney ABN 97 895 683 573 Member Crowe Horwath International
Audit and Assurance Services
Level 15 1 O'Connell Street Sydney NSW 2000 Australia
Tel +61 2 9262 2155 Fax +61 2 9262 2190 www.crowehorwath.com.au
Independent Auditor’s Report to the Members of OncoSil Medical Ltd
Report on the Audit of the Financial Report
Opinion We have audited the financial report of OncoSil Medical Ltd (the Group), which comprises the statement of financial position as at 30 June 2017, the statement of profit or loss and other comprehensive income, the statement of changes in equity and the statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies, and the directors’ declaration. In our opinion, the accompanying financial report of the Group is in accordance with the Corporations Act 2001, including:
(a) giving a true and fair view of the Group’s financial position as at 30 June 2017 and of its financial performance for the year then ended; and
(b) complying with Australian Accounting Standards and the Corporations Regulations 2001. Basis for Opinion We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Report section of our report. We are independent of the Group in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Key Audit Matters Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial report of the current period. These matters were addressed in the context of our audit of the financial report as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.
inDepenDent auDitor’s report
47
For
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43
Key Audit Matter How we addressed the Key Audit Matter
Share based payments – Notes 14 and Note 27
The Group’s ‘Employee Share Plan’ is designed as an incentive for senior managers and key management personnel, including directors. The share based payments expense for the current year is $1.4m. We have identified this as significant area as share based payments results in a significant expense included in the statement of profit or loss and other comprehensive income and includes judgements in assessing the fair value. Share based payments also contribute a significant portion of the annual remuneration for the ‘Key Management Personnel’.
We performed the following key procedures;
Reviewed management calculations for share-based payments including areas of judgement in assessing fair value;
Reviewed relevant terms and conditions and supporting issue documents;
Reviewed underlying treatment in accordance with the requirements of AASB 2, including adequate disclosures.
Other Information The directors are responsible for the other information. The other information comprises the information included in the Group’s annual report for the year ended 30 June 2017, but does not include the financial report and our auditor’s report thereon. Our opinion on the financial report does not cover the other information and accordingly we do not express any form of assurance conclusion thereon. In connection with our audit of the financial report, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial report or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Responsibilities of the Directors for the Financial Report The directors of the Group are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards, IFRS and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error. In preparing the financial report, the directors are responsible for assessing the ability of the Group to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or to cease operations, or have no realistic alternative but to do so.
inDepenDent auDitor’s report continueD
OncoSil Medical Annual Report 2017
48
For
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44
Auditor’s Responsibilities for the Audit of the Financial Report Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report. A further description of our responsibilities for the audit of the financial report is located at the Auditing and Assurance Standards Board website at: http://www.auasb.gov.au/auditors_files/ar2.pdf . This description forms part of our auditor’s report.
Report on the Remuneration Report
Opinion on the Remuneration Report We have audited the Remuneration Report included as part of the directors’ report for the year ended 30 June 2017. In our opinion, the Remuneration Report of OncoSil Medical Ltd, for the year ended 30 June 2017, complies with section 300A of the Corporations Act 2001.
Responsibilities The directors of the Company are responsible for the preparation and presentation of the Remuneration Report in accordance with section 300A of the Corporations Act 2001. Our responsibility is to express an opinion on the Remuneration Report, based on our audit conducted in accordance with Australian Auditing Standards. CROWE HORWATH SYDNEY JOHN HAYDON Senior Partner Dated at Sydney 24 August 2017
49
For
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shareholDer information
Oncosil Medical LtdThe shareholder information set out below was applicable as at 11 September 2017.
Distribution of equitable securitiesAnalysis of number of equitable security holders by size of holding:
# of holders of
Holdings Rangesordinary shares
options over ordinary shares
1-1,000 93 01,001-5,000 232 05,001-10,000 401 010,001-100,000 1,468 0100,001-9,999,999,999 518 0Totals 2,712 0
Holding less than a marketable parcel 343 0
Equity security holdersTwenty largest quoted equity security holdersThe names of the twenty largest security holders of quoted equity securities are listed below: Ordinary shares
Holder Name # held% of total
shares issuedUBS NOMINEES PTY LTD 34,897,415 7.16%WEBINVEST PTY LTD <OLSB UNIT A/C> 28,432,102 5.83%MR DANIEL KENNY 26,000,000 5.33%TISIA NOMINEES PTY LTD <HENDERSON FAMILY A/C> 20,278,090 4.16%BANNABY INVESTMENTS PTY LTD 19,000,000 3.90%DENLIN NOMINEES PTY LTD 13,763,070 2.82%ROJO NERO CAPITAL PTY LTD 11,250,000 2.31%NEWTONMORE BIOSCIENCES PTY LTD 11,016,547 2.26%MR CHRISTOPHER GRAHAM ROBERTS 10,000,000 2.05%CITICORP NOMINEES PTY LIMITED 9,617,840 1.97%WESTCAP PTY LTD 6,657,687 1.37%SUNSET CAPITAL MANAGEMENT PTY LTD <SUNSET SUPERFUND A/C> 6,000,000 1.23%STRUCTURE INVESTMENTS PTY LTD <ROGERS FAMILY A/C> 5,312,532 1.09%MR TOM MILICEVIC 5,000,000 1.03%MR ASHISH SOMAN 5,000,000 1.03%MR DAVID JAMES 5,000,000 1.03%STRUCTURE INVESTMENTS PTY LTD <ROGERS FAMILY A/C> 5,000,000 1.03%MR ADRIAN DARBY 4,999,001 1.03%MR MICHAEL WARRENER 4,000,000 0.82%J P MORGAN NOMINEES AUSTRALIA LIMITED 3,694,831 0.76%
234,919,115 48.19%Total of Securities 487,455,468
Unquoted equity securitiesOptions over ordinary shares issued # of shares # of holders
Not applicable 0 0
Substantial holdersSubstantial holders in the Company are set out below:
REGAL FUNDS MANAGEMENT PTY LIMITED 47,707,780 9.79%WEBINVEST PTY LTD <OLSB UNIT A/C> 28,563,958 5.86%MR DANIEL KENNY 26,000,000 5.33%
Voting rightsThe voting rights attached to ordinary shares are set out below:Ordinary sharesOn a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote.There are no other classes of equity securities.
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corporate Directory
OncoSil Medical Limited ABN 89 113 824 141 www.oncosil.com.au
Directors
Dr Chris Roberts Non-Executive Chairman Dr Roger Aston Non-Executive Director Mr Daniel Kenny CEO and Managing Director Mr Martin Cross Non-Executive Director
company secretary
Tom Milicevic CFO and Company Secretary
registered office
Suite 402, Level 4, 50 Berry St North Sydney NSW 2060 T: +61 2 9223 3344
Bankers
Westpac Banking Corporation 341 George St Sydney NSW 2000
auditors
Crowe Horwath Sydney Level 15, 1 O’Connell St Sydney NSW 2000 T: +61 2 9262 2155
legal counsel
K&L Gates Level 25, South Tower, 525 Collins St Melbourne VIC 3000 T: +61 3 9205 2000
Davies Collison Cave Level 14, 255 Elizabeth St Sydney NSW 2000 T: +61 2 9293 1000
stock exchange
OncoSil Medical Limited shares are listed on the Australian Securities Exchange ASX code: OSL
share registry
Boardroom Pty Ltd Level 12, 225 George St Sydney NSW 2000 T: 1300 737 760
annual general meeting
The 2017 AGM of OncoSil Medical Limited will be at 11.00am (AEST) on Wednesday, 25 October 2017 at the offices of K&L Gates Level 31, 1 O’Connell Street, Sydney, NSW, 2000
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OncoS
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OncoSil Medical Limited www.oncosil.com.au T: +61 2 9223 3344 F: +61 2 9252 3988
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