2012 Annual Report (2 April 2013) - Grange Resources

2012 ANNUAL REPORT
73
PAGE
NOTE 29. RESERVES
2012 2011
$’000 $’000
Share-based payments reserve 1,103 3,041
(a) Movements in share-based
payments reserves
1,103 3,041
Balance at beginning of the year 3,041 2,955
Share based payments expense 797 751
Expired share options (1,978) -
Issue of shares to employees (757) (665)
Balance at end of the year 1,103 3,041
(b) Nature and purpose of share-based payment reserve
The share based payments reserve is used to recognise the fair
value of equity benefits issued by the Company.
NOTE 30. RETAINED PROFITS
Retained profits
2012 2011
$’000 $’000
Movements in retained profits were as follows:
Balance at the beginning of the year 424,681 231,192
Profit for the year 35,904 216,567
Dividends paid (46,198) (23,078)
Expired share options 1,978 -
Balance at the end of the year 416,365 424,681
(b) Dividends not recognised at the end of the reporting
period
In addition to the above dividends, since year end the Directors
have recommended the payment of a final unfranked dividend of
1 cent per fully paid ordinary share. The aggregate amount of the
proposed dividend is expected to be paid on 3 April 2013, but
not recognised as a liability at year end is $11.6 million. The final
dividend was declared NIL conduit foreign income.
NOTE 32. KEY MANAGEMENT PERSONNEL
2012 2011
$’000 $’000
Short-term employee benefits 3,060 2,220
Post-employment benefits 186 205
Long-term benefits 11 14
Termination benefits 635 131
Share-based payments 1,099 351
Detailed remuneration disclosures are provided in the
remuneration report on pages 34 to 40.
(a) Equity instrument disclosures relating to
key management personnel
4,991 2,921
(i) Options provided as remuneration and shares issued on
exercise of such options
No options were provided as remuneration or shares issued on
exercise of options during the period.
NOTE 31. DIVIDENDS
2012 2011
$’000 $’000
Unfranked final dividend for the
year ended 31 December 2011
– 3 cents per share (2010: Nil) (34,643) -
Unfranked interim dividend for the
year ended 31 December 2012
– 1 cent per share
(2011: 2 cents per share) (11,555) (23,078)
Total dividends provided for or paid (46,198) (23,078)
(a) Ordinary shares
A final dividend for the year ended 31 December 2011 of 3 cents
per fully paid share (2010: nil) was paid on 27 April 2012. This
final dividend was declared NIL conduit foreign income.
An interim dividend for the year ended 31 December 2012 of
1 cent per fully paid share (2011: 2 cents per fully paid share) was
paid on 2 October 2012. This interim dividend was declared NIL
conduit foreign income.