Qantas 2010 Annual Report Download - page 78

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THE QANTAS GROUP 76
for the year ended 30 June 2010
Notes to the Financial Statements continued
Qantas Group
2010
$M
2009
$M
ISSUED CAPITAL
Issued and paid-up capital: 2,265,123,620 (2009: 2,265,123,620) ordinary shares, fully paid 4,729 4,729
Movements in the share capital of Qantas during the current and prior year were as follows:
Date Details
Number
of Shares
M$M
1 July 2008 Balance 1,894 3,976
1 October 2008 Dividend reinvestment plan 55 192
11 February 2009 Institutional share placement 270 491
17 March 2009 Share purchase plan 18 26
8 April 2009 Dividend reinvestment plan 28 44
30 June 2009 Balance 2,265 4,729
30 June 2010 Balance 2,265 4,729
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 employees in relation to equity compensation plans. As at 30 June 2010, 15,640,025
(2009: 14,677,697) shares were held in trust and classi ed as treasury shares.
Qantas Group
2010
$M
2009
$M
RESERVES
Employee compensation reserve 53 52
Hedge reserve (refer Note 25(B)) 85 (29)
Foreign currency translation reserve (29) (16)
109 7
NATURE AND PURPOSE OF RESERVES
Employee Compensation Reserve
The fair value of equity plans granted is recognised in the employee compensation reserve over the vesting period. This reserve will be reversed
against treasury shares when the underlying shares vest and transfer to the employee. No gain or loss is recognised in the Consolidated Income
Statement on the purchase, sale, issue or cancellation of Qantas’ own equity instruments.
Hedge Reserve
The hedge reserve comprises the effective portion of the cumulative net change in the fair value of cash  ow hedging instruments related to future
forecast transactions.
Foreign Currency Translation Reserve
The foreign currency translation reserve comprises all foreign exchange differences arising from the translation of the Financial Statements of foreign
controlled entities and associates, as well as from the translation of liabilities that form part of the Qantas Group’s net investment in a foreign
controlled entity.
23. Capital and Reserves