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Wool Stocktake : AWI Annual Report 2016-17
NOTE 18: CONTRIBUTED EQUITY (CONTINUED) (c) Ordinary shares A person has a right to one share in the Company if the Board is satisfied that their rolling wool levy or wool tax contribution is $100 or more during the 3 previous financial years or the person is engaged in a wool producing business, as defined by the Company's constitution. This right does not entitle the shareholder to participate in any profit distributions or in any proceeds on the winding up of the entity. Where a person fails to satisfy these share criteria the share is returned to and held by the Company. (d) Shareholder statistics Details 30 June 2017 30 June 2016 Australian Capital Territory 78 82 New South Wales 8,821 9,059 Northern Territory 1 1 Queensland 651 672 South Australia 3,968 4,059 Tasmania 664 679 Victoria 5,532 5,690 Western Australia 3,748 3,817 23,463 24,059 NOTE 19: RESERVES AND RETAINED EARNINGS Consolidated 2017 2016 $'000 $'000 (a) Other reserves Foreign currency translation 1,497 1,482 Movements: Foreign currency translation Balance 1 July 1,482 1,473 Currency translation differences arising during the year 15 9 Balance 30 June 1,497 1,482 Exchange differences arising on translation of the foreign controlled entity are recognised in other comprehensive income as described in note 1(c) and accumulated in a separate reserve within equity. The cumulative amount is reclassified to profit or loss when the net investment is disposed of. Consolidated 2017 2016 $'000 $'000 (b) Retained earnings Retained surplus at the beginning of the financial year 87,703 85,036 Net surplus attributable to the owners of Australian Wool Innovation Limited 17,182 2,667 Retained surplus at the end of the financial year 104,885 87,703 FINANCIAL REPORT 81
AWI Annual Report 2015-16