IGO Interactive Annual Report 2019

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 30 JUNE 2019 Notes to the consolidated financial statements 30 June 2019 (continued) 18 Reserves and accumulated losses (a) Reserves 2019 $'000 2018 $'000 Hedging reserve 339 1,393 Share-based payments reserve 15,427 13,340 Foreign currency translation reserve 11 38 15,777 14,771 (i) Movements in reserves The following table shows a breakdown of the movements in these reserves during the year. A description of the nature and purpose of each reserve is provided below the table. Hedging reserve $'000 Share- based payments reserve $'000 Acquisition reserve $'000 Foreign currency translation reserve $'000 Total $'000 Balance at 1 July 2018 1,393 13,340 - 38 14,771 Revaluation - gross 515 - - - 515 Deferred tax (154) - - - (154) Transfer to profit or loss - gross (2,021) - - - (2,021) Deferred tax 606 - - - 606 Currency translation differences - current period - - - (27) (27) Share-based payment expenses - 3,123 - - 3,123 Issue of shares under the Employee Incentive Plan - (1,036) - - (1,036) Balance at 30 June 2019 339 15,427 - 11 15,777 Balance at 1 July 2017 (391) 10,698 3,142 (4) 13,445 Revaluation - gross 4,504 - - - 4,504 Deferred tax (1,351) - - - (1,351) Transfer to profit or loss - gross (1,955) - - - (1,955) Deferred tax 586 - - - 586 Transfer to accumulated losses - - (3,142) - (3,142) Currency translation differences - current period - - - 42 42 Share-based payment expenses - 3,267 - - 3,267 Issue of shares under the Employee Incentive Plan - (625) - - (625) Balance at 30 June 2018 1,393 13,340 - 38 14,771 Independence Group NL 35 IGO ANNUAL REPORT 2019 — 97