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Group Structure and Related Parties This section details the Group's capital, non-controlling interest of subsidiaries, investments in associates and joint ventures and information relating to transactions with other Group entities. 23. Capital Ordinary shares are classified as shareholders’ funds. Costs directly attributable to the issue of new shares or options are shown in shareholders’ funds as a reduction from the proceeds. Where a member of the Group purchases the Company’s share capital, the consideration paid is deducted from equity. Acquired shares are classified as treasury stock and presented as a deduction from share capital under the treasury stock method, as if the shares are cancelled, until they are reissued or otherwise disposed of.
June 2018 NZ$M
June 2017 NZ$M
Fletcher Building Group
2,711
Reported capital at the beginning of the year including treasury stock
2,680
736
Issue of shares
31
3,447
Reported capital at the end of the year including treasury stock
2,711
(22)
Treasury stock
(33)
3,425 2,678 All ordinary shares are issued and fully paid and carry equal rights in respect of voting, dividend payments and distribution upon winding up.
Fletcher Building Group
June 2018
June 2017
Number of ordinary shares: Number of shares on issue at the beginning of the year
695,921,174 156,306,701
692,501,249
Shares issued under the accelerated entitlement offer during the year
1,119,266
Shares issued under the dividend reinvestment plan
3,419,925
853,347,141
Total number of shares on issue
695,921,174
(2,820,341)
Less shares accounted for as treasury stock
(4,129,695)
850,526,800 691,791,479 The Group completed an entitlement offer to shareholders of new shares in May 2018 resulting in the issue of approximately 156 million ordinary shares. The offer raised $750 million of additional equity which was offset by $23 million of transaction fees. 24. Non-controlling interests Non-controlling interests are allocated their share of profit for the year in the income statement and are presented separately within equity in the balance sheet. The effect of all transactions with non-controlling interests that change the Group’s ownership interest but do not result in a change in control are recorded in equity.
June 2018 NZ$M
June 2017 NZ$M
Fletcher Building Group
13 11 24
Share capital
13 11 24
Reserves
91 Fletcher Building Limited Annual Report 2018
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