16. SHARE CAPITAL (CONTINUED) Movements in the number of Share Options were as follows: Share options Weighted average exercise price Outstanding at 31 December 2022 2,200,000 $3.59 Exercised during the year (700,000) $3.62 Outstanding at 31 December 2023 1,500,000 $3.57 Granted during the year 700,000 $23.09 Forfeited during the year (370,000) $23.09 Exercised during the year (400,000) $3.46 Outstanding at 31 December 2024 1,430,000 $8.11 Vested and exercisable at 31 December 2024 1,100,000 $3.61 The weighted average exercise price for the options to acquire ordinary shares is $8.11. 17. DIVIDENDS There were no dividends paid, recommended or declared during the current or previous financial year. 18. INTERESTS IN SUBSIDIARIES The consolidated financial statements incorporate the assets, liabilities and results of the following subsidiaries in accordance with the accounting policy described in Note 2: Ownership interest Name Principal place of business / Country of incorporation As at 31 Dec 2024 % As at 31 Dec 2023 % Neuren Pharmaceuticals Inc. United States of America 100% 100% Neuren Pharmaceuticals (Australia) Pty Ltd Australia 100% 100% Neuren Trustee Limited New Zealand 100% 100% All subsidiaries have a reporting date of 31 December. 19. COMMITMENTS AND CONTINGENCIES (a) Legal claims The Group had no legal matter contingencies at 31 December 2024 (31 December 2023: nil). (b) Commitments The Group was not committed to the purchase of any plant or equipment or intangible assets as at 31 December 2024 (31 December 2023: nil). As at 31 December 2024, the Group had commitments under product development contracts at the end of the reporting period but not recognised as liabilities amounting to approximately $7.8 million, including approximately US $4.7 million. (c) Contingent liabilities The Group had no contingent liabilities at 31 December 2024 (31 December 2023: nil) that require disclosure. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONTINUED Neuren Pharmaceuticals Limited Annual Report 2024 43
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