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Wool Stocktake : AWI Annual Report 2017-18
NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2018 (CONTINUED) 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 2018 30 June 2017 Australian Capital Territory 78 78 New South Wales 8,466 8,821 Northern Territory 2 1 Queensland 606 651 South Australia 3,786 3,968 Tasmania 653 664 Victoria 5,338 5,532 Western Australia 3,545 3,748 22,474 23,463 NOTE 19: RESERVES AND RETAINED EARNINGS Consolidated 2018 2017 $'000 $'000 (a) Other reserves Foreign currency translation 1,588 1,497 Movements: Foreign currency translation Balance 1 July 1,497 1,482 Currency translation differences arising during the year 91 15 Balance 30 June 1,588 1,497 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 2018 2017 $'000 $'000 (b) Retained earnings Retained surplus at the beginning of the financial year 104,885 87,703 Net surplus attributable to the owners of Australian Wool Innovation Limited 15,457 17,182 Retained surplus at the end of the financial year 120,342 104,885 90 FINANCIAL REPORT
AWI Annual Report 2016-17