Notes to the financial statements
24. Cash flows continued 24.2 Reconciliation of
movement of liabilities to cash flows arising from financing activities
Reconciliation of movement of liabilities to cash flows arising from financing activities
LEASE LIABILITIES BORROWINGS DERIVATIVES
TOTAL
Balance at 1 July 2022
27.7
3,229.4
(33.4)
3,223.7
–
(886.5)
– – – –
(886.5)
Net repayments
(12.0) (12.0)
–
(12.0)
Lease liabilities payments Financing cash flows
(886.5)
(898.5)
– – – – –
(0.4)
(0.4)
Cost of debt raising Fair value changes Borrowing fees paid
(75.6)
82.1
6.5
(6.6)
– – – – – –
(6.6)
9.4
9.4
Amortisation of debt raising costs
(0.9)
(0.9)
Premium released ROU asset additions ROU asset disposals
46.8
– – –
46.8
(2.8)
(2.8)
5.3
5.3
Other
As at 30 June 2023
65.0
2,268.8
48.7
2,382.5
25. Equity 25.1 Share Capital Shares
The total number of authorised and issued shares is 1,000,000,000 (2022: 1,000,000,000). All ordinary issued shares are fully paid, have no par value and carry equal voting rights and equal rights to a surplus on winding up of the parent. At balance date 26,343 shares (2022: 26,343) are allocated to the employee share purchase scheme.
25.2 Capital Management Policies
Vector’s objectives in managing capital are: — To safeguard the ability of entities within the group to continue as a going concern; — To provide an adequate return to shareholders by pricing products and services commensurate with the level of risk; and — Maintain an investment grade credit rating. Vector manages and may adjust its capital structure in light of changes in economic conditions and for the risk characteristics of the underlying assets. To achieve this Vector may: — Adjust its dividend policy; — Return capital to shareholders; or — Sell assets to reduce debt.
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