Creating a new energy future – a bold vision
24. Equity 24.1 Share Capital Shares
The total number of authorised and issued shares is 1,000,000,000 (2020: 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 82,035 shares (2020: 116,948) are allocated to the employee share purchase scheme.
24.2 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.
24.3 Financial ratios
2021 12 MONTHS $M
2020 12 MONTHS $M
Basic and diluted earnings per share
193.2
Net prof it attributable to owners of the parent
95.4
Weighted average ordinary shares outstanding during the period (number of shares)
999,906,097
999,876,571
19.3 cents
Total earnings per share
9.5 cents
2021 $M
2020 $M
Net tangible assets per share
2,319.7 (1,294.3) 1,025.4
Net assets attributable to owners of the parent
2,242.8 (1,285.8)
Less total intangible assets Total net tangible assets
957.0
999,917,965 102.5 cents
Ordinary shares outstanding (number of shares)
999,883,052
95.7 cents
Economic net debt to economic net debt plus adjusted equity ratio (“gearing ratio”)
2021 $M
2020 $M
3,090.6
Face value of borrowings
2,910.6
(17.4)
Less cash and cash equivalents
(28.3)
Economic net debt
3,073.2 2,335.4
2,882.3 2,259.7
Total equity
34.8
Adjusted for hedge reserves
81.7
Adjusted equity
2,370.2 5,443.4
2,341.4 5,223.7
Economic net debt plus adjusted equity
56.5%
55.2%
87
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