Page 96 - ar2012

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31 December 2012
NOTESTO FINANCIAL STATEMENTS
92
GEO ENERGY RESOURCES LIMITED
| Annual Report 2012
33
EARNINGS PER SHARE (cont’d)
2012
2011
Number of shares
Ordinary shares as at 1 January *
800,000,000 800,000,000
Effect of shares issued pursuant to conversion of convertible loans
23,731,782
–
Effect of shares issued pursuant to the initial public offering
52,940,216
–
Weighted average number of ordinary shares for the purpose
of basic earnings per share *
876,671,998 800,000,000
Effect of dilutive potential ordinary shares:
- Convertible loans
74,970,857 98,702,639
Weighted average number of ordinary shares for the purpose
of diluted earnings per share *
951,642,855 898,702,639
*
The weighted average number of ordinary shares issued for the aforementioned fnancial periods, is on the assumption
that the sub-division of every one ordinary share into 4,000 ordinary shares has taken place on 1 January 2011.
34
SEGMENT INFORMATION
For the purpose of resource allocation and assessment of segment performance, the Group’s chief operating
decision makers have focused on the business operating units which in turn, are segregated based on their
services. This forms the basis of identifying the segments of the Group under FRS 108.
Operating segments are aggregated into a single reportable operating segment if they have similar economic
characteristic, such as long-term average gross margins, and are similar in respect of nature of services and
process, type of customers, method of distribution, and if applicable, the nature of the regulatory environment.
For management purposes, the Group is currently organised into one operating segment - coal mining. This
segment is primarily engaged in mining and marketing of coal. This division is the basis on which the Group
reports its primary segment information.
Geographical segments
The Group’s information about the segment revenue by geographical location is detailed below:
Revenue
2012
2011
US$
US$
Based on location of customer
Republic of Indonesia
63,034,916 50,596,927
South Korea
14,065,667
–
People’s Republic of China
1,664,230 15,450,100
Republic of Singapore
–
3,198,986
Total
78,764,813 69,246,013