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Whitehaven Coal Limited : Annual Report 2013
153 Whitehaven Coal Limited Annual Report 2013 Notes to the Financial Statements 30 June 2013 26. SHARE CAPITAL AND RESERVES a) Share capital Consolidated In thousands of AUD 2013 2012 Fully paid ordinary shares 1,025,692,710 (2012: 1,013,190,387) 3,146,301 3,116,769 b) Movements in shares on issue Consolidated 2013 2012 Nos of shares 000's $000's Nos of shares 000's $000's Ordinary shares Beginning of the nancial year 1,013,190 3,116,769 493,817 591,339 Exercise of share options 974 -- 8,200 16,200 Exercise of share acquisition rights -- -- 1,967 -- Share-based payments 58 -- 400 -- Issued on acquisition of Boardwalk Resources Ltd1 -- -- 119,905 495,480 Issued on merger with Aston Resources Ltd -- -- 388,901 2,014,508 Issued on acquisition of Vickery Pty Ltd 11,471 29,594 -- -- Costs of shares issued, net of tax -- (62) -- (758) 1,025,693 3,146,301 1,013,190 3,116,769 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 issued performance rights during the prior year and has on issue share options (see note 32). 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 e ective portion of the cumulative change in the fair value of cash ow 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 32 for further details of these plans.
Annual Report 2012