McConnell Dowell 2019 Annual Review

48 McConnell Dowell Group Statement of Changes in Equity for the year ended 30 June 2019 All figures are in A$ 000’s Ordinary shares Preference Shares Foreign currency translation reserve Asset revaluation reserve Capital reserves Non- controlling interest Retained earnings Total equity Balance as at 1 July 2017 70,765 40,000 (4,389) 385 2,811 257 (94,458) 15,371 Profit / (loss) for the period - - - - - 170 7,806 7,976 Other comprehensive income - - 3,021 - - 12 - 3,033 Total comprehensive income for the period - - 3,021 - - 182 7,806 11,009 Transactions with owners in their capacity as owners: Share Issue of 147m shares issued at $1 each 147,000 - - - - - - 147,000 Dividend paid (note 5) - - - - - (110) - (110) Balance as at 1 July 2018 as previously reported 217,765 40,000 (1,368) 385 2,811 329 (86,652) 173,270 Adoption of AASB 9 accounting standard * - - - - - - - - Adoption of AASB15 accounting standard ** - - - - - - (25,615) (25,615) Balance as at 1 July 2018 217,765 40,000 (1,368) 385 2,811 329 (112,267) 147,655 Profit / (loss) for the period - - - - - (161) 7,946 7,785 Other comprehensive income - - 3,733 - - (20) - 3,713 Total comprehensive income for the period - - 3,733 - - (181) 7,946 11,498 Transactions with owners in their capacity as owners: Share Issue of 10m shares issued at $1 each 10,000 - - - - - - 10,000 Dividend paid (note 5) - - - - - - - - Balance as at 30 June 2019 227,765 40,000 2,365 385 2,811 148 (104,321) 169,153 The above Statement of Changes in Equity is to be read in conjunction with the accompanying notes * The adoption of the expected credit loss model under AASB 9 has not impacted the accumulated losses opening balance. Prior year balances have not been amended as there has been no impact. ** T he adoption of AASB 15 has impacted the accumulated losses opening balance by $25.6 million. Refer to the effect on disclosure in the Accounting policies Note 1. Share Issue On 31st December 2018 Aveng Limited approved the recapitalisation of $10m of the non-interest bearing shareholder loan into ordinary share capital. Consolidated Financial Statements 2019