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Whitehaven Coal Limited : Annual Report 2012
Whitehaven Coal Limited -- Annual Report 2012 117 NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2012 26. SHARE CAPITAL AND RESERVES Consolidated In thousands of AUD 2012 2011 a) Share capital Fully paid ordinary shares 1,013,190,387 (2011: 493,816,735) 3,116,769 591,339 b) Movements in shares on issue Ordinary shares Consolidated 2012 2011 Nos of shares 000's $000's Nos of shares 000's $000's Beginning of the financial year 493,817 591,339 493,650 591,176 Exercise of share options 8,200 16,200 167 167 Exercise of share acquisition rights 1,967 -- Share based payments (Boardwalk employees) 400 -- Issued on acquisition of Boardwalk Resources Ltd1 119,905 495,480 -- -- Issued on merger with Aston Resources Ltd 388,901 2,014,508 -- -- Costs of shares issued, net of tax -- (758) -- (4) 1,013,190 3,116,769 493,817 591,339 1 The shares issued as consideration for the acquisition of Boardwalk Resources Ltd included 34,020,000 milestone shares. The milestone shares are fully paid ordinary shares subject to the terms of a restriction deed which removes their entitlements to vote, receive dividends as declared or participate in the proceeds from the sale of all surplus assets until such time as certain milestones are met. The Company has also issued share options (see note 33). c) Terms and conditions of issued capital Fully paid ordinary shares carry one vote per share, either in person or by proxy, at a meeting of the Company and carry the right to receive dividends as declared. In the event of a winding up of the Company, fully paid ordinary shares carry the right to participate in the proceeds from the sale of all surplus assets in proportion to the number of and amounts paid up on shares held. Under the terms of the acquisition of Boardwalk Resources Limited, certain ordinary shares are subject to a restriction deed which removes their entitlement to vote, receive dividends as declared or participate in the proceeds from the sale of all surplus assets. These restrictions will be released on reaching certain milestones. d) Hedge reserve The hedging reserve comprises the effective portion of the cumulative change in the fair value of cash flow hedging instruments related to hedged transactions that have not yet occurred. e) Share-based payment reserve The share-based payment reserve is used to record the value of share based payments provided to director related entities and senior employees under share option plans. Refer to note 33 for further details of these plans.
Annual Report 2011
Annual Report 2013