Forfeited during the period/year (150,000) - - - Lapsed during the period/year - - (1,000,000) - Outstanding at the end of the 450,000 0.05 600,000 0.05 period/year Exercisable at the end of the - - - - period/year The weighted average remaining contractual life of the options outstanding at the period/year end, for the options with a weighted average exercise price of £0.05, is 2.7 years. The weighted average fair value of the options when issued was 2.5p. 31 December 31 March 2016 2016 Average share price 6.3p 8.1p Issue Date Expected volatility 75% Expected life 3 Risk-free rate 4% Dividend - Weighted average share price on the grant date £0.08 Expected volatility was determined by calculating the historical volatility of the Company’s share price over the previous three years. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioural considerations. Mrs Veronika Belotserkovsky, wife of Boris Belotserkovsky, a non-executive Director of the Company, holds 1,816,557 8p Warrants which are exercisable at 2p per share in ordinary equity. 22 The accounting policies for financial instruments have been applied to the line items below: 31 December 31 March 2016 2016
Forfeited during the period/year (150,000) - - - Lapsed during the period/year - - (1,000,000) - Outstanding at the end of the period/year 450,000 0.05 600,000 0.05 Exercisable at the end of the period/year - - - - The weighted average remaining contractual life of the options outstanding at the period/year end, for the options with a weighted average exercise price of £0.05, is 2.7 years. The weighted average fair value of the options when issued was 2.5p. 31 December 2016 31 March 2016 Average share price 6.3p 8.1p Issue Date Expected volatility 75% Expected life 3 Risk-free rate 4% Dividend - Weighted average share price on the grant date £0.08 Expected volatility was determined by calculating the historical volatility of the Company’s share price over the previous three years. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioural considerations. Mrs Veronika Belotserkovsky, wife of Boris Belotserkovsky, a non-executive Director of the Company, holds 1,816,557 8p Warrants which are exercisable at 2p per share in ordinary equity. 22 The accounting policies for financial instruments have been applied to the line items below: 31 December 2016 31 March 2016
UVEN%20result%20RNS%20(final%2030Jun)%20(002).docx