Page 64 - Sun Resources Annual Report 2013

13 Contributed Capital (continued)
2012 Date Number of
Shares
Capital
$
Ordinary shares
Opening balance 1 July 2011 444,369,734 45,751,821
Public equity raising - placement 12 September 2011 66,655,460 1,133,143
Entitlement issue 11 October 2011 85,164,909 1,447,803
Entitlement issue - shortfall 24 October 2011 25,633,404 435,768
Public equity raising - placement 24 October 2011 451,444,480 7,674,556
Director share issue 24 October 2011 6,900,000 117,300
Share Placement - broker consideration 26 October 2011 7,000,000 161,000
Director Share issue 22 December 2011 294,117 5,000
Share allotment - Carina Energy LLC 21 March 2012 44,735,294 984,176
Share allotment - Carina Energy LLC 18 May 2012 4,364,706 174,588
Conversion of options 11 June 2012 2,700,000 67,500
Conversion of options 11 June 2012 1,000,000 36,000
Closing balance 30 June 2012 1,140,262,104 57,988,655
14 Share Based Payments Reserves
2013
In the current year the cumulative reserve was $11,124,830 (2012: $3,014,351).
The movement is detailed as follows:
Consolidated
2013 2012
Opening balance 3,014,351 733,248
Options issued to Directors, Contractors and Staff 791,697 259,814
Options issued for financing and investing activities
Options issued to Brokers for services 991,009 357,601
Options issued to Carina Energy LLC for the Delta Oil Project - 345,579
Options issued to Carina Energy LLC for the Delta Oil Project 409,534 89,027
Class D Performance Options issued to Carina Energy LLC for the Delta Oil Project - 1,040,821
Class D Performance Options issued to Carina Energy LLC for the Delta Oil Project 741,656 188,261
Class G Performance Options issued to Carina Energy LLC for the Delta Oil Project 5,176,583 -
7,318,782 2,021,289
Closing Balance 11,124,830 3,014,351
Share-based payments
The share-based payments reserve is used to recognise:
• the grant date fair value of options issued to employees and others but not exercised.
• the grant date fair value of shares issued to employees and others.
• the grant date fair value of performance options issued to third parties to acquire the Delta Oil Project.
15 Foreign Exchange Translation Reserve
In the current year the cumulative reserve was $4,508,608 (2012: ($2,173,614))
Opening Balance (2,173,614) (2,211,500)
Foreign currency translation 6,682,222 37,886
Closing balance 4,508,608 (2,173,614)
Foreign currency translation
Exchange differences arising on translation of the foreign controlled entity are recognised in other comprehensive
income as described in note 1(e) and accumulated in a separate reserve within equity. The cumulative amount is
reclassified to profit or loss when the net investments is disposed of.
SUN RESOURCES ANNUAL REPORT 2013 62
NOTES TO AND FORMING PART OF THE CONSOLIDATED
FINANCIAL STATEMENTS