Westgold Resources Limited Annual Report 2020

88 Westgold Resources Limited Annual Report 2020 Financial Report Notes to the Consolidated Financial Statements for the year ended 30 June 2020 25. UNEARNED INCOME (CONTINUED) The gold pre-pay facility with Citibank N.A (Citi), was settled in full. The associated interest expense has been capitalised to the qualifying assets. 2020 2019 Movement in provisional gold sales At 1 July – – Provisional gold sales at 30 June 198,841 – At 30 June 198,841 – This represents gold sold on provisional outturns on 30 June 2020. 26. ISSUED CAPITAL 2020 2019 (a) Ordinary Shares Issued and fully paid 356,130,055 299,494,861 Number $ (b) Movements in ordinary shares on issue At 1 July 2018 363,109,569 276,976,897 Issued share capital on conversion of options (f) 44,785 89,570 Issued share capital 26,000,000 23,400,000 Share issue costs, net of tax – (971,606) At 30 June 2019 389,154,354 299,494,861 Capital reduction via demerger – (8,803,840) Issued share capital (refer Note 29 (b)) 530,313 1,102,000 Issued share capital on conversion of listed options 10,545,603 21,542,506 Issued share capital 20,000,000 45,000,000 Share issue costs, net of tax – (2,205,472) At 30 June 2020 420,230,270 356,130,055 (c) Terms and conditions of contributed equity Holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at shareholder meetings. In the event of winding up the Company the holders are entitled to participate in the proceeds from the sale of all surplus assets in proportion to the number of and amounts paid up on shares held. Effective 1 July 1998, the Corporations legislation in place abolished the concepts of authorised capital and par share values. Accordingly, the Parent does not have authorised capital nor par value in respect of its issued shares. (d) Escrow restrictions There are no current escrow restrictions on the issued capital of the Company.