Aeris Annual Report 2022
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<strong>Aeris</strong> Resources Limited<br />
Notes to the consolidated financial statements<br />
30 June <strong>2022</strong><br />
35. Earnings per share<br />
<strong>2022</strong> 2021<br />
$'000 $'000<br />
Profit after income tax attributable to the owners of <strong>Aeris</strong> Resources Limited 6,010 61,240<br />
Number<br />
Number<br />
Weighted average number of ordinary shares used in calculating basic earnings per share 338,631,120 272,866,890<br />
Adjustments for calculation of diluted earnings per share:<br />
Options and rights over ordinary shares 7,780,845 12,331,764<br />
Weighted average number of ordinary shares used in calculating diluted earnings per<br />
share 346,411,965 285,198,654<br />
Cents<br />
Cents<br />
Basic earnings per share 1.8 22.4<br />
Diluted earnings per share 1.7 21.5<br />
Share consolidation after the reporting period and impact on weighted average number of shares<br />
On 8 July <strong>2022</strong>, the Company completed a share consolidation at the ratio of 7 fully paid ordinary shares into 1 fully paid<br />
ordinary share (refer note 33). The weighted average number of ordinary shares for 30 June <strong>2022</strong> and 30 June 2021 have<br />
been adjusted for the effect of the share consolidation, in accordance with AASB 133 Earnings per share.<br />
Performance rights<br />
The outstanding performance rights (exercisable at $nil each with an expiry date of 30 June 2023) have been included in<br />
the calculation of diluted earnings per share for the years ended 30 June <strong>2022</strong> and 30 June 2021.<br />
Management options<br />
The weighted average of outstanding unlisted management options have been included in the calculation of diluted<br />
earnings per share for the year ended 30 June 2021. There were no outstanding unlisted management options at 30 June<br />
<strong>2022</strong>.<br />
Share transactions after the reporting period<br />
On 1 July <strong>2022</strong>, the Company issued 1,466,666,667 fully paid ordinary shares in <strong>Aeris</strong> to acquire Round Oak Minerals Pty<br />
Limited, and 162,781,913 fully paid ordinary shares in <strong>Aeris</strong> to an existing Institutional shareholder, Paradice Investment<br />
Management Pty Ltd (refer note 33). These share issues would have changed significantly the number of ordinary shares<br />
outstanding at 30 June <strong>2022</strong> if these transactions had occurred before the end of the reporting period. The issue of these<br />
shares has not been retrospectively adjusted in the calculation of earnings per share.<br />
Accounting policy for earnings per share<br />
Basic earnings per share<br />
Basic earnings per share is calculated by dividing the profit attributable to the owners of <strong>Aeris</strong> Resources Limited,<br />
excluding any costs of servicing equity other than ordinary shares, by the weighted average number of ordinary shares<br />
outstanding during the financial year, adjusted for bonus elements in ordinary shares issued during the financial year.<br />
AERIS ANNUAL REPORT <strong>2022</strong><br />
Diluted earnings per share<br />
Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account<br />
the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares and the<br />
weighted average number of shares assumed to have been issued for no consideration in relation to dilutive potential<br />
ordinary shares.<br />
42<br />
118
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