Annual Report 2012 - ecoWise Holdings Limited

ecoWise Holdings Limitedannual report 201212131 OCTOBER 2012NOTES TO THE FINANCIAL STATEMENTS26. OTHER RESERVES (CONTINUED)26A. Equity-Settled Share-Based Compensation Reserve (Continued)At the end of the reporting year, the number of performance shares granted under the Share Plan are asfollows:Number of ecoWise performance sharesDate of GrantAt 1November2011 Granted AwardedCancelled/lapsedAt 31October201221 March 2012 – 5,426,875 – (350,000) 5,076,875The above number of performance shares represents the shares required if participants are awarded at 100%of the grant. However, the performance shares awarded at the vesting date are dependent on the level ofachievement against the pre-set performance conditions and targets.Group and Company2012 2011$’000 $’000Equity-settled share-based compensation reserveAt beginning of the reporting year – 577Equity-settled share-based expenses charged to profit or loss,included in other charges 528 –Transfer to share capital (Note 25) – (577)At end of the reporting year 528 –The equity-settled share-based compensation reserve is not available for distribution as cash dividends.26B. Foreign Currency Translation ReserveGroup2012 2011$’000 $’000At beginning of the reporting year (923) (576)Exchange differences on translating foreign operations (478) (347)At end of the reporting year (1,401) (923)