Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
Page 17
Page 18
Page 19
Page 20
Page 21
Page 22
Page 23
Page 24
Page 25
Page 26
Page 27
Page 28
Page 29
Page 30
Page 31
Page 32
Page 33
Page 34
Page 35
Page 36
Page 37
Page 38
Page 39
Page 40
Page 41
Page 42
Page 43
Page 44
Page 45
Page 46
Page 47
Page 48
Page 49
Page 50
Page 51
Page 52
Page 53
Page 54
Page 55
Page 56
Page 57
Page 58
Page 59
Page 60
Page 61
Page 62
Page 63
Page 64
Page 65
Page 66
Page 67
Page 68
Page 69
Page 70
Page 71
Page 72
Page 73
Page 74
Page 75
Page 76
14. Contributed Equity and Reserves Consolidated 2015 000 2014 000 Ordinary shares 1365110 1686878 Contributed equity 1365110 1686878 On 22 December 2014 the share capital of the Company was reduced in accordance with Section 258F of the Corporations Act. The amount of the reduction was 368 million and represented the value of paid-up share capital that was not represented by available assets. Consolidated Consolidated 2015 000 2014 000 2015 Number of securities 2014 Number of securities On issue at the beginning of the financial year 1686878 1686878 705247 704858 Capital reduction 368000 Shares issued for equity component in talent contracts 3105 3174 Shares issued in relation to the DRP and DRP underwrite 43127 45165 Shares issued as part of Long Term Incentive Plan 389 On issue at the end of the financial year 1365110 1686878 753586 705247 Ordinary shares in Southern Cross Media Group Limited Ordinary shares entitle the holder to participate in distributions and the proceeds on winding up of the Company in proportion to the number of and amounts paid on the shares held. On a show of hands each shareholder present in person and each other person present as a proxy has one vote and upon a poll each share is entitled to one vote. Ordinary shares have no par value and the Company does not have a limited amount of authorised capital. Employee share entitlements The Group operates an LTI plan for its senior executives. Information relating to the employee share entitlements including details of shares issued under the scheme is set out in the Remuneration Report. Nature and purpose of reserves a Share-based payments reserve The share-based payments reserve is used to recognise the fair value of future potential shares to be issued to employees for no consideration in respect of performance rights offered under the Long Term Incentive Plan. During the year no performance rights have vested 2014 388462 and 1027757 2014 1199171 performance rights have been granted. In the current year 723407 2014 1179000 has been recognised as an expense in the Statement of Comprehensive Income as the fair value of potential shares to be issued. b Hedge reserve The hedge reserve is used to record gains or losses on a hedging instrument in a cash flow hedge that are recognised in Other Comprehensive Income. Amounts are reclassified to the Statement of Comprehensive Income when the associated hedged transaction affects profit or loss. c Reverse Acquisition Reserve As described in Note 1a there is a reverse acquisition reserve of 77.4 million 2014 77.4 million in connection with the IPO of the Group. 57 SOUTHERN CROSS AUSTEREO ANNUAL REPORT 2015