Ordinary shares participate in dividends and the proceeds on winding up of the parent entity in proportion to the number of shares held.
At the shareholders’ meetings each ordinary share is entitled to one vote when a poll is called, otherwise each shareholder has one vote on
a show of hands. Ordinary shares have no par value.
b) Capital risk management
The group’s objective when managing capital is to safeguard their ability to continue as a going concern, so that they can continue to provide
returns to shareholders and benets to other stakeholders and to maintain an optimal capital structure to reduce the cost of capital.
In order to maintain or adjust the capital structure the group may adjust the amount of dividends paid to shareholders,
return capital to shareholders, issue new shares or sell assets to reduce debt.
Consistent with others in the industry, the group manages its capital by assessing the group’s nancial risk and adjusts its
capital structure in response to changes in these risks and in the market. These responses include the management of debt levels,
distributions to shareholders and share issues.
There have been no changes in the strategy adopted by management to control the capital of the group since the prior year.
The group is not subject to any externally imposed capital requirements.
22. RESERVES
This comprises the amortised position of the share based payment expense (refer note 27d).
Exchange differences arising on translation of the foreign controlled entities are taken to the foreign currency translation reserve as
described in note 1t). The reserve is recognised in prot and loss when the net investment is disposed of.
23. CONTINGENT LIABILITIES AND COMMITMENTS
Commitments
Notes to the Financial Statements
51
| Annual Report 2018