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50 CATHAY PACIFIC AIRWAYS LIMITED ANNUAL REPORT 1998
Notes to the Accounts – Balance Sheets
17. Share capital
1998 1997
Number of shares HK$M Number of shares HK$M
Authorised (HK$0.20 each): 3,900,000,000 780 3,900,000,000 780
Issued and fully paid (HK$0.20 each):
At beginning of the year 3,387,799,848 677 3,437,413,848 687
Shares purchased and cancelled (3,600,000) (1) (49,614,000) (10)
At end of the year 3,384,199,848 676 3,387,799,848 677
Details of shares purchased in 1998 are included in the Directors’ Report.
18. Reserves
Non-distributable
Capital
Retained Share redemption Capital Other
profit premium reserve reserve reserves Total
HK$M HK$M HK$M HK$M HK$M HK$M
Group
At beginning of the year 17,730 7,158 10 36 (5) 24,929
Loss for the year (881) – – – – (881)
Purchase of Company’s shares:
– premium paid on purchase (18) – – – – (18)
– transfer between reserves (1) – 1 – – –
Share of goodwill of associated
companies (1) – – – – (1)
Exchange differences – – – – (9) (9)
At end of the year 16,829 7,158 11 36 (14) 24,020
Included in retained profit is an amount of HK$724 million (1997: HK$665 million) relating to retained profit
attributable to associated companies.
Company
At beginning of the year 15,097 7,158 10 – – 22,265
Loss for the year (1,002) – – – – (1,002)
Purchase of Company’s shares:
– premium paid on purchase (18) – – – – (18)
– transfer between reserves (1) – 1 – – –
At end of the year 14,076 7,158 11 – – 21,245