21. Share capital and treasury shares
Group and Company
Number of shares
Amount
Issued share Treasury Issued share Treasury
capital
shares capital
shares
’000
’000 $’000
$’000
Fully paid ordinary shares,
with no par value
2015 and 2014
Balance at beginning and
end of year
419,511
2,512 83,092
(923)
The holders of ordinary shares (except for treasury shares) are entitled to receive dividends
as and when declared by the Company. All ordinary shares (except for treasury shares)
carry one vote per share without restriction.
Treasury shares
Treasury shares relate to ordinary shares of the Company that are held by the Company.
During the year, the Company did not buy back any shares.
22. Reserves
Group
Company
2015 2014 2015 2014
$’000 $’000 $’000 $’000
Accumulated profits
337,034 333,326 18,799 18,446
Foreign currency translation
reserve
742 (4,891)
–
–
Hedging reserve
(422)
(2)
–
–
337,354 328,433 18,799 18,446
Foreign currency translation reserve
The foreign currency translation reserve represents exchange differences arising from the
translation of the financial statements of foreign operations whose functional currencies
are different from that of the Group’s presentation currency.
Hedging reserve
Hedging reserve records the portion of the fair value changes of derivative financial
instruments designated as hedging instruments in cash flow hedges that is determined to
be effective hedges.
NOTES TO THE FINANCIAL
STATEMENTS
For the financial year ended 30 June 2015
ASL Marine Holdings Ltd. /Annual Report 2015
137
