Corporate Report for the year ended 30 June 2022
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Directors’ report
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Section A: Group financial statements for the year ended 30 June 2022
Section A: Group financial statements for the year ended 30 June 2022
Transurban Holdings Limited Consolidated statement of changes in equity for the year ended 30 June 2022
Attributable to security holders of the stapled group
Equity attributable to other members— THT & TIL
Non- controlling interests— other
Number of securities
Contributed
Accumulated losses
Total equity
equity Reserves
Total
M
$M $M
$M
$M $M
$M $M
Balance at 1 July 2021
2,738
2,929
(457)
(4,234)
12,097
10,335
801
11,136
Comprehensive income/(loss) Profit/(loss) for the year Other comprehensive income
— — —
— — —
—
(641)
660 859
19
(3)
16
199 199
—
1,058 1,077
82 79
1,140 1,156
Total comprehensive income/(loss)
(641)
1,519
Transactions with owners in their capacity as owners: Contributions of equity, net of transaction costs 1
325
983
— — — — — —
— —
3,168
4,151
— — — —
4,151
Employee performance awards issued 2 Distributions provided for or paid 3
1
2
8
10
10
—
— 25 —
(61)
(1,198)
(1,259)
(1,259)
Distribution reinvestment plan 4
7
— —
82 —
107
107
Distributions to non-controlling interests 5
—
—
(73) (73)
(73)
333
1,010 3,939
(61)
2,060
3,009
2,936
Balance at 30 June 2022
3,071
(258)
(4,936)
15,676
14,421
807
15,228
1. On 13 October 2021, the Group successfully completed the fully underwritten institutional and retail components of its pro-rata accelerated renounceable 1 for 9 entitlement offer. The institutional component raised gross proceeds of $2,898 million at an issue price of $13.00 per security. The retail component raised gross proceeds of $1,068 million at an issue price of $13.00 per security. A further $250 million was raised through a placement to AustralianSuper at an issue price of $13.07 per security. The total gross proceeds of $4,216 million ($4,150 million net of costs and tax) were used to fund the Group’s contribution to the acquisition of the remaining 49% equity stake in WestConnex through Sydney Transport Partners Joint Venture (STP JV), which completed on 29 October 2021. 2. It is the Group's policy that a portion of all Short Term Incentives issued to the CEO and other executives are deferred for a period of 2 years. In addition to the Short Term Incentives, stapled securities (including units in the Trust) were issued to senior executives and other employees under the Group's Long Term Incentive share based payment plans. These
securities are held by the employees but will only vest in accordance with the terms of the plans. 3. Refer to Note B10 for further details of dividends and distributions provided for or paid.
4. Under the Distribution Reinvestment Plan (DRP), holders of stapled securities may elect to have all or part of their distribution entitlements satisfied by the issue of new stapled securities rather than by cash. The DRP applied for the final distribution for FY21 and the interim distribution for FY22, paid in August 2021 and February 2022, respectively. The DRP applies for the final FY22 distribution. 5. Distributions and dividends were paid during the year to the non-controlling interest partners in Transurban Queensland.
The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes. 124
124
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