Can someone please eleborate on the meaning of the below which is on page 58 of the 2015 annual report, IMO it doesn't sound important but if it's not why did they bring it up.
MATTERS SUBSEQUENT TO THE
END OF THE FINANCIAL YEAR
On 19 August 2015, the Company reduced
its share capital by $353.3 million for the
amount that is not represented by available
assets, reflecting the impairment charges
incurred by the Company and Consolidated
Entity during the year ended 30 June
2015. This will have the effect of reducing
the share capital account and eliminating
accumulated losses at the Company and
Consolidated Entity level. The transaction
has been made in accordance with section
258F of the Corporations Act 2001 (Cth) and
will not result in any gains or losses being
recognised in future reporting periods. The
financial effect of this transaction will not
affect the financial statements for the year
ended 30 June 2015, but will be included in
the financial statements for the year ending
30 June 2016.
Can someone please eleborate on the meaning of the below which...
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