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CIMIC Group Limited Annual Report 2016 |
Financial Report
Notes continued
for the 12 months to 31 December 2016
20. SHARE CAPITAL
Company
December 2016
No. of shares
December 2015
No. of shares
Issued and fully paid share capital
Balance at beginning of reporting period
338,503,563
338,503,563
Shares bought back
1
(14,249,466)
-
Balance at reporting date
324,254,097
338,503,563
Company
12 months to
December 2016
$m
12 months to
December 2015
$m
Share capital
Balance at beginning of reporting period
2,052.5
2,052.5
Par value of shares bought back
1
(302.2)
-
Balance at reporting date
1,750.3
2,052.5
1
On 14 December 2015 the CIMIC Group Board approved a proposal to conduct an on-market share buy-back of up to 10% of CIMIC’s fully
paid ordinary shares over a 12 month period, which commenced on 29 December 2015 and concluded on 28 December 2016. As at 31
December 2016, 14,249,466 shares were bought back for $425.9 million and subsequently cancelled. The associated par value of the shares
cancelled totalling $302.2 million has reduced share capital with the total premium paid over par value of $123.7 million taken to the share
buy-back reserve.
On 12 December 2016, the CIMIC Group Board approved a further on-market share buy-back of up to 10% of CIMIC’s fully paid ordinary
shares for a period of 12 months commencing 29 December 2016. As at 31 December 2016, nil shares have been bought back under this
program.
Holders of ordinary shares are entitled to receive dividends, as declared from time to time, and are entitled to one vote per share at
shareholders’ meetings. In the event of winding up of the Company, ordinary shareholders rank after creditors and are fully entitled to
any proceeds of liquidation.
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