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CCA Group
CCA Entity

Note 24. Reserves
a) Reserves at the end of the financial year

Foreign currency translation reserve

99.2

–
Equity compensation reserve

32.5

18.3
Cash flow hedging reserve
7.5

15.8
General reserve
–

–

Refer

2007
$M
(37.0)
32.8
25.0
4.2
25.0
99.2
(46.7)
(89.5)
(37.0)
32.5
9.6
0.6
(2.4)
–
(4.2)
(3.3)
32.8
2006

Note

$M

2007
$M
–
19.5
41.1
4.2
64.8
–
–
–
–
18.3
8.1
0.6
–
–
(4.2)
(3.3)
19.5
$M

Total reserves

139.2

b) Movements
Foreign currency translation reserve

Balance at the beginning of the financial year

105.7

–
Transfer to income statements on disposal of operation 6e)

–

–
Translation of financial statements of foreign subsidiaries

(6.5)
–

Balance at the end of the financial year

99.2

–

The foreign currency translation reserve is used to record foreign
exchange differences arising from the translation of the financial
statements of foreign subsidiaries.

Equity compensation reserve

Balance at the beginning of the financial year

25.7

14.3
Expense recognised during the financial year 4
4.9

4.6
Deferred tax adjustment 24c)
(0.2)
(0.2)
Movements in unvested CCA ordinary shares held by –
Employees Share Plan 23

1.5

–
Non-Executive Directors’ Retirement Share Trust 23

1.0

–
Transfer to general reserve

–

–
Share based payment

(0.4)
(0.4)
Balance at the end of the financial year

32.5

The equity compensation reserve is used to record the following share based remuneration obligations to employees in relation to CCA ordinary shares –

•
as held by the Employees Share Plan, which have not vested to employees as at the end of the financial year;
•
to be purchased by the Long Term Incentive Share Plan with respect to incentives for senior executives;
•
as held by the Executive Retention Share Plan with respect to incentives for senior executives;
•
as held by the Non-Executive Directors’ Retirement Share Trust, which have not vested to the participating Directors as at the end of the financial year;
and
•
as held by the Executive Salary Sacrifice Share Plan where applicable to the service agreements of key management personnel.
Refer to Note 25 for further information on CCA share plans.