McConnell Dowell 2019 Annual Review

90 McConnell Dowell Group Notes to the annual financial statements (continued) for the year ended 30 June 2019 Deed of cross guarantee McConnell Dowell Corporation Limited, McConnell Dowell Holdings Pty Ltd, McConnell Dowell Constructors (Aust.) Pty Ltd, Hylekite Pty Ltd, McConnell Dowell Pty Ltd, McConnell Dowell Corporation (NZ) Pty Ltd, Tweed River Entrance Sand Bypassing Company Pty Ltd, Built Environs Pty Ltd, Built Environs WA Pty Ltd & Built Environs Qld Pty Ltd are parties to a deed of cross guarantee (“Closed Group”) under which each company guarantees the debts of the others. By entering into the deed, the wholly owned entities have been relieved from the requirement to prepare a financial report and directors’ report under ASIC Corporations (wholly-owned companies) Instrument 2016/785, issued by the Australian Securities and Investment Commission. Financial Statements 2019 26. Interests in subsidiaries (continued) *Non-controlling equity interests in controlled entities Reconciliation of non-controlling equity interests in controlled entities:- 2019 2018 2019 2018 % % $ $ Opening balance 329 257 Share of current year profit (161) 170 Dividend paid - (110) Share of reserve movements (FCTR) (20) 12 Closing balance 148 329