PMGL Consolidated $’000 $’000 Issued Shares Balance as at 30 June 2021 (Total shares: 58,840,131) 54,718 54,718 Balance as at 30 June 2022 (Total shares: 58,840,131) 54,718 54,718 Ordinary Shares Ordinary shares have the right to receive dividends as declared, and in the event of winding up the company, to participate in the proceeds from the sale of all surplus assets in proportion to the number of, and the amount paid up, on shares held. Ordinary shares entitle the holder to one vote, either in person or by proxy, at a meeting of the company. Capital Management The consolidated entity manages its capital to ensure that the Group will be able to continue as a going concern while maximising the return to stakeholders through optimisation of the debt and equity balance. The capital structure of the Group consists of debt, which includes borrowings disclosed in Note 14, cash and cash equivalents and equity attributable to equity holders of the parent, comprising issued capital, reserves and retained earnings as disclosed in Note 18. Management effectively manages the consolidated entity’s capital by assessing the consolidated entity’s financial risks and adjusting its capital structure in response to changes in these risks and in the market. These responses include the management of debt levels, distributions to shareholders and share issues. (b) Reserves Retained earnings Cash flow hedge reserve $’000 $’000 Balance at 30 June 2020 36,407 (4,258) Result for the year after tax 8,104 - Movements in fair value of cash flow hedges - 1,247 Distribution provided for the year (3,472) - Balance at 30 June 2021 41,039 (3,011) Result for the year after tax 46,875 - Movements in fair value of cash flow hedges - 3,145 Distribution provided for the year (4,048) - Balance at 30 June 2022 83,866 134 18. Contributed Equity (a) Issued Capital 41
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