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101Qantas |Annual Report 2007
Notes to the Financial Statements
for the year ended 30 June 2007
Qantas Group Qantas
2007
$M
2006
$M
2007
$M
2006
$M
Issued and paid up capital: 1,984,990,348 (2006: 1,955,035,444)
ordinary shares, fully paid as at 30 June 4,481.2 4,382.2 4,481.2 4,382.2
Movements in the share capital of Qantas during the current and prior year were as follows:
Date Details
Number
of Shares
M$M
1 July 2005 Balance 1,897.6 4,192.3
28 September 2005 DRP 31.0 97.4
15 February 2006 Issue of shares under the QLTEIP 2.1 –
5 April 2006 DRP 24.3 92.5
30 June 2006 Balance 1,955.0 4,382.2
4 October 2006 DRP 29.0 99.0
16 February 2007 Issue of shares under the QLTEIP 1.0 –
30 June 2007 Balance 1,985.0 4,481.2
Holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at shareholders’ meetings.
In the event of wind-up, Qantas ordinary shareholders rank after all creditors and are fully entitled to any residual proceeds on liquidation.
Treasury shares consist of shares held in trust for Qantas Executives in relation to equity compensation plans. At 30 June 2007, 9,335,407
(2006: 6,628,357) shares were held in trust and classified as treasury shares.
18. Reserves
Qantas Group Qantas
2007
$M
2006
$M
2007
$M
2006
$M
Employee compensation reserve 27.0 23.7 27.0 23.7
Hedge reserve 120.0 332.2 121.6 332.2
Fair value reserve –(35.4) ––
Asset revaluation reserve 4.0 4.0 ––
Foreign currency translation reserve (2.8) 4.8 ––
148.2 329.3 148.6 355.9
17. Issued Capital