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Year ended 31 December 2012
STATEMENTS OF CHANGES IN EQUITY
See accompanying notes to the fnancial statements.
52 GEO ENERGY RESOURCES LIMITED | Annual Report 2012
Share
capital
Other
reserve
Convertible
loans
reserve
Translation
reserve
Retained
earnings
Equity
attributable
to owners
of the
Company
Non-
controlling
interests Total
US$
(Note 24)
US$
(Note 25)
US$
(Note 26)
US$ US$ US$ US$ US$
Group
Balance at 1 January 2011 153,846 538,478 – 344,002 12,334,252 13,370,578 (31,353) 13,339,225
Arising from Restructuring
Exercise – (538,478) – – – (538,478) 5,317 (533,161)
Total comprehensive income
for the year – – – (588,777) 14,320,768 13,731,991 115,676 13,847,667
Balance at 31 December 2011 153,846 – – (244,775) 26,655,020 26,564,091 89,640 26,653,731
Arising from convertible loans – – 832,253 – – 832,253 – 832,253
Share issuance:
- Conversion of convertible
loans 16,647,467 – (832,253) – – 15,815,214 – 15,815,214
- Initial public offering 68,833,564 – – – – 68,833,564 – 68,833,564
Share issuance expense
pursuant to the initial public
offering (3,116,203) – – – – (3,116,203) – (3,116,203)
Incorporation of a subsidiary
with non-controlling interests – – – – – – 1,062 1,062
Dilution of non-controlling
interests – 14,349 – – – 14,349 (14,349) –
Total comprehensive income
for the year – – – (4,427,391) 18,925,339 14,497,948 216,679 14,714,627
Balance at 31 December 2012 82,518,674 14,349 – (4,672,166) 45,580,359 123,441,216 293,032 123,734,248
Share
capital
Convertible
loans
reserve
Translation
reserve
Accumulated
losses Total
US$ US$ US$ US$ US$
(Note 24) (Note 26)
Company
Balance at 1 January 2011 153,846 – – (22,553) 131,293
Total comprehensive loss for the year – – 46,884 (288,553) (241,669)
Balance at 31 December 2011 153,846 – 46,884 (311,106) (110,376)
Arising from convertible loans – 832,253 – – 832,253
Share issuance:
- Conversion of convertible loans 16,647,467 (832,253) – – 15,815,214
- Initial public offering 68,833,564 – – – 68,833,564
Share issuance expense pursuant to
the initial public offering (3,116,203) – – – (3,116,203)
Total comprehensive loss for the year – – (1,242,740) (2,024,590) (3,267,330)
Balance at 31 December 2012 82,518,674 – (1,195,856) (2,335,696) 78,987,122