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AXIOM MINING LIMITED
ANNUAL REPORT 2015
59
Notes to the
financial statements
for the year ended 30 September 2015
GROUP FINANCIAL REPORT
15. Provisions
Current
2015
$000
2014
$000
Employee benefits payable
340
153
The employee benefits relate to leave provisions and is presented as current as it is expected to be settled within 12 months.
Non-Current
Employee benefits payable
5
–
The employee benefits relate to long service leave provisions not due for settlement within the next 12 months.
16. Capital and reserves
a. Authorised and issued share capital
2015
$000
2014
$000
Issued and fully paid
264,676,635* (2014: 3,289,552,750) ordinary shares
91,433
77,902
2015
2014
Number of
shares
$000
Number of
shares
$000
Movements in issued shares:
Balance at 1 October
3,289,552,750
77,902 2,335,067,445
62,633
Issue of new shares
Effect of share consolidation*
(3,070,251,090)
–
–
–
Share placement issue
21,299,632
7,176 332,383,597
5,390
Shares issued as payment for services and interest
357,643
70 22,966,727
361
Shares issued to employees
–
–
2,133,334
30
Exercise of options
3,526,558
882 64,208,203
1,119
Shares issued under agreement
–
– 144,134,202
1,900
Shares issued on conversion of convertible notes
20,191,142
5,650 224,000,014
3,136
Shares used for commencement fee for funding facility
–
–
7,956,153
113
Shares used for Convertible notes
–
–
15,000,000
210
Rights issue
–
– 141,703,075
2,834
264,676,635
91,680 3,289,552,750
77,726
Less: Transaction costs arising from share issues
–
(268)
–
–
Options exercised during the year and paid but shares
not allotted until after 30 September 2014
–
21
–
176
Balance at 30 September
264,676,635
91,433 3,289,552,750
77,902
* A share consolidation of Axiom’s capital, on the basis of one share for every fteen shares was completed on 14 April 2015.