ar11-lr-final

Notes to and forming part of the Financial Statements – continued
For the 52 WEEK period ended 31 July 2011
30. Contributed Equity
GROUP GROUP PARENT PARENT
2011 2010 2011 2010
$000 $000 $000 $000
Share capital 251,445 251,445 251,445 251,445
Treasury stock (7,385) (8,262) – –
(a) Share capital
244,060 243,183 251,445 251,445
GROUP AND PARENT SHARE CAPITAL ORDINARY SHARES
2011 2010 2011 2010
$000 $000 000 000
Opening balance 251,445 251,445 311,196 311,196
Closing balance 251,445 251,445 311,196 311,196
Fully paid ordinary shares carry one vote per share and participate equally in dividends, other distributions from equity and any
surplus on a winding up of the Group. No shares were issued during the current financial year (2010: Nil).
(b) Treasury stock
GROUP TREASURY STOCK ORDINARY SHARES
note 2011 2010 2011 2010
$000 $000 000 000
Opening balance 8,262 14,356 1,797 3,162
Ordinary shares issued to settle share plan obligations 31, 15 (2,110) (1,751) (440) (365)
Ordinary shares issued to employee share purchase plan 31, 21 – (4,355) – (1,003)
Ordinary shares purchased on market 1,042 – 300 –
Ordinary shares forfeited under the staff share purchase plan 21 191 12 62 3
Closing balance 7,385 8,262 1,719 1,797
Percentage of share capital 0.55% 0.58%
The Group retains its own ordinary shares for later use in employee share based payment arrangements and are deducted from
equity. These shares carry the same voting rights as other issued ordinary shares. Voting rights attached to the shares are held by
the trustees of the employee share schemes, and dividends paid on the shares are retained by the trustee for the benefit of the
Group. The Directors may appoint or remove any trustee by Directors’ resolution. The current trustees of the share plans are detailed
in note 39.
Notes to and forming part of the Financial Statements – continued
For the 52 WEEK period ended 31 July 2011
31. Reserves
GROUP NOTE 2011 2010
$000 $000
Cash flow hedge reserve 22 (24,104) (4,007)
Share based payments reserve 2,812 3,422
(21,292) (585)
(a) Cash flow hedge reserve
This reserve records the portion of the gain or loss on a hedging derivative in a cash flow hedge that is determined to be an effective
hedge. The cumulative deferred gain or loss on the hedge is recognised in the income statement when the hedged transaction
impacts the income statement, or depending on the nature of the hedge, is included in a non-financial hedged item when the hedged
event occurs.
(b) Share based payments reserve
The Group currently has an employee share right plan (refer note 15) and an employee share purchase plan (refer note 21). This
reserve is used to record the accumulated value of unvested shares rights and employee share purchases plan discount (net of the
fair value adjustment on the employee loans), which have been recognised in the income statement.
Upon the vesting of share rights, the balance of the reserve relating to the share rights is offset against the cost of treasury stock
allotted to settle the obligation, with any difference in the cost of settling the commitment transferred to retained earnings.
When an employee share loan is fully repaid and the associated shares vest to the employee the balance of the reserve relating to
the employee share purchase plan is transferred to retained earnings.
GROUP NOTE 2011 2010
$000 $000
Opening balance 3,422 3,654
Share based payments expense 7 1,640 2,609
Transfer from treasury stock 30 (2,110) (6,106)
Transfer to employee share purchase plan – 2,700
Transferred to retained earnings 33 (140) 565
Closing balance 2,812 3,422
The parent has no reserves.
32. Minority Interest
GROUP 2011 2010
$000 $000
Opening balance 340 251
Net profit attributable to minority interest 316 355
Dividends paid to minority shareholders (331) (266)
Closing balance 325 340
Minority interests predominantly relate to the 50% minority shareholding held in Waikato Valley Chocolates Limited.
The parent has no minority interests.
FINANCIAL STATEMENTS 68
FINANCIAL STATEMENTS 69