15 SHARE CAPITAL Ordinary shares 2024 2023 Number of shares Number of shares ’000 ’000 Company In issue at beginning of the year, including treasury shares 1,661,709 1,665,144 Less: Cancellation of treasury shares – (3,435) In issue at end of the year, excluding treasury shares 1,661,709 1,661,709 (a) All issued ordinary shares (excluding treasury shares) are fully paid, with no par value. All shares rank equally with regards to the Company’s residual assets. (b) The holders of ordinary shares (excluding treasury shares) are entitled to receive dividends as declared from time to time, and are entitled to one vote per share at meeting of the Company. All rights attached to the treasury shares are suspended until those shares are reissued. 16 RESERVES Other reserves Group Company 2024 2023 2024 2023 $’000 $’000 $’000 $’000 Statutory reserve 7,468 6,864 – – Capital reserve 439,639 443,183 – – Non-reciprocal capital contribution from immediate holding company 484,439 – 484,439 – 931,546 450,047 484,439 – Statutory reserve Statutory reserve comprises at least 10% of the statutory after tax profits as determined in accordance with the applicable PRC accounting standards and regulations, allocated to statutory reserve until the cumulative total of the reserve reaches 50% of the subsidiaries’ registered capital. Subject to approval from the relevant PRC authorities, the statutory reserve may be used to offset any accumulated losses or increase the registered capital of the subsidiaries. The statutory reserve is not available for dividend distribution to shareholders of the PRC subsidiaries. Capital reserve Capital reserve comprises mainly: (i) the difference between the paid up capital of the ordinary shares issued and the fair value of the initial acquisition; (ii) reserve arising from the non-reciprocal capital contribution made to a non-wholly owned subsidiary; (iii) reserves arising from the Group’s acquisition of non-controlling interests in subsidiaries; and (iv) equity component of convertible bonds of a non-wholly owned subsidiary (see note 12). Notes to the Financial Statements Year ended 31 December 2024 OVERVIEW PERFORMANCE SUSTAINABILITY FINANCIALS APPENDIX 205 ANNUAL REPORT 2024
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