Axiom Mining 2015 Annual Report

GROUP FINANCIAL REPORT

Notes to the financial statements for the year ended 30 September 2015

59

15. Provisions

2015 $000

2014 $000

Current

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

AXIOM MINING LIMITED ANNUAL REPORT 2015

91,433

77,902

2015

2014

Number of shares

Number of shares

$000

$000

Movements in issued shares: Balance at 1 October Issue of new shares Effect of share consolidation*

3,289,552,750

77,902 2,335,067,445

62,633

(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 3,136

Shares issued on conversion of convertible notes

20,191,142

5,650 224,000,014

Shares used for commencement fee for funding facility

– – –

– –

7,956,153

113 210

Shares used for Convertible notes

15,000,000

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.