Annual Report - AWB Limited

AWB LIMITED Notes to and forming part of the financial statements for the year ended 30 September 2008ConsolidatedAWB Limited2008 2007 2008 2007$’000 $’000 $’000 $’00018. Deferred Income Tax LiabilitiesThe balance comprises temporary differences attributable to:Amounts recognised in profit or lossPrepayments (284) 24 - 3Property, Plant and Equipment (3,838) (2,075) (36) (25)Unrealised foreign exchange (4,842) (88) - -Accrued Income - 1,086 - -Investments 8,888 3,702 952 (702)Provisions 2,503 2,052 - -Other 493 (203) - -2,920 4,498 916 (724)Amounts recognised directly in equityInvestments 2,529 5,803 1,532 3,2142,529 5,803 1,532 3,214Net deferred tax liabilities 5,449 10,301 2,448 2,490MovementsOpening balance at 1 October 10,301 13,313 2,490 2,067(Credited)/charged to the income statement (1,578) (5,477) 1,640 (631)(Credited)/charged to equity (3,274) 2,465 (1,682) 1,054Closing balance at 30 September 5,449 10,301 2,448 2,490Deferred tax liabilities to be recovered after more than 12 months 10,083 7,276 2,448 2,487Deferred tax liabilities to be recovered within 12 months (4,634) 3,025 - 35,449 10,301 2,448 2,49019. Contributed Equity(a) Share CapitalOrdinary shares, fully paid 983,540 969,743 983,540 969,7432008 2007No. of shares $’000 No. of shares $’000(b) Movements in ordinary share capitalMovements in share capital during the period were as follows:Balance at the beginning of the year 346,333,077 969,743 346,327,737 969,743Issued during the year- Dividend Reinvestment Plan ($2.83 per share) 4,894,224 13,851 - -- Performance Rights Plan: $nil per issue - - 5,340 -- Employee Share Plan 579,348 - - -Transaction costs - (54) - -Balance at the end of the year 351,806,649 983,540 346,333,077 969,743At the date of this report, AWB’s issued capital consisted of fully paid ordinary shares, carrying the normal rights associated with ordinaryshares. Prior to 22 October 2008, being the date of adoption of a new constitution, these shares were known as B class shares. Prior to3 September 2008, being the date the constitution was amended and the A class shares redeemed, the capital structure consisted of A classand B class shares. A class shares were redeemable preference shares, could only be owned by wheat growers, had no dividend rights orredemption value, and could not be transferred, but they did carry the right to elect a majority of the board of directors.84 www.awb.com.au