Page 72 - ar2012

68 GoodLand Group Limited
25 Share Capital (cont’d)
d) During the previous fnancial year ended 30 September 2011, the Company issued 115,048,800 warrants
which are dilutive potential ordinary shares. The warrants were issued at an issue price of S$0.01. Each
warrant will, subject to the terms and conditions of the Deed Poll, entitle its holder to subscribe for one
ordinary share in the capital of the Company at an exercise price of S$0.16 (the “exercise price”) for each
new ordinary share, on the basis of three warrants for every fve existing ordinary shares in the capital of the
Company, at any time during the period commencing 22 February 2011 and expiring on 21 February 2015.
The net proceeds of the warrants issued amounting to S$988,932, are included in the warrants reserve. There
was an exercise of 358,000 (2011: 250,000) warrants during the fnancial year ended 30 September 2012
which resulted in a reduction of the warrants reserve by S$3,580 (2011: S$2,500) from S$986,432 to S$982,852
(2011: S$988,932 to S$986,432) (Note 26). As at 30 September 2012, the number of outstanding warrants
amounted to 114,440,800 (2011: 114,798,800).
26 Reserves
Group Company
30.09.2012
S$
(Restated)
30.09.2011
S$
(Restated)
01.10.2010
S$
2012
S$
2011
S$
Retained earnings/
Accumulated losses 43,732,266 21,009,397 11,782,078 857,020 (793,277)
Merger reserves (485,076) (485,076) (485,076) - -
Currency translation reserve (32,477) (28,935) (17,528) - -
Warrants reserve (Note 25(d)) 982,852 986,432 - 982,852 986,432
44,197,565 21,481,818 11,279,474 1,839,872 193,155
Merger reserve represents the difference between the value of shares issued by the Company in exchange for
the value of shares acquired in respect of the acquisition of subsidiaries accounted for under the pooling-of-
interests method.
Movements in reserves for the Group are set out in the consolidated statement of changes in equity.
27 Dividend
On 28 November 2011, a fnal tax-exempt dividend of 1.0 cent per share for the fnancial year ended 30
September 2012 amounting to S$1,923,520 was paid to holders of fully paid ordinary shares.
28 Signifcant Related Party Transactions
Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party,
or exercise signifcant infuence over the other party in making fnancial and operating decision. Parties are
also considered to be related if they are subject to common control or common signifcant infuence. Related
parties may be individuals or corporate entities.
In addition to the information disclosed elsewhere in the fnancial statements, during the fnancial year, the
Group had signifcant transactions with related parties on terms agreed between the parties as follows:
Group
2012
S$
2011
S$
With companies in which the directors have interests or common directors
Expenses:
Consultancy services - 6,000
Notes to the Financial Statements
30 September 2012