111
2013
2012
2013
2012
Number of ordinary shares
$’000
$’000
Authorised:
Ordinary shares
300,000,000 300,000,000 300,000 300,000
Issued and paid up:
At beginning of the year
183,125,354 181,927,569 183,125 181,928
Issue of shares at par for cash
4,448,289 2,669,737
4,448
2,669
Redemption of shares
(1,473,723) (1,471,952)
(1,473)
(1,472)
At end of the year
186,099,920 183,125,354 186,100 183,125
The share capital is represented by:
Share capital repayable on demand classified as liabilities (a) 185,999,920 183,025,354 186,000 183,025
Share capital classified as equity (b)
100,000 100,000
100
100
Total
186,099,920 183,125,354 186,100 183,125
(a) This relates to the shares held by members where the Co-operative does not have the right of refusal to redeem
the members’ shares. Members include an individual person or institution or organisation duly admitted to the
membership of the Co-operative in accordance with the By-Laws of the Co-operative. In accordance with By-Laws 5.6,
the shares are redeemable at the lower of the nominal value of S$1 per share or the net asset value of the share.
(b) This comprised only the portion that relates to founder member National Trade Union Congress.
(c) In accordance with By-Laws 4.2.2, the Board of Directors shall have the absolute discretion to approve or reject any
application for membership or for additional shares without assigning any reason for its decision. By-Laws 4.6 also
states that every member shall, unless otherwise disqualified under the Co-operative Societies Act, Chapter 62 or
the By-Laws, have the right to:
(i) avail himself of all services of the Society;
(ii) stand for election to office, subject to the provisions of the Act and the By-Laws, where applicable;
(iii) be co-opted to hold office in the Society, where applicable;
(iv) participate and vote at general meetings; and
(v) enjoy all other rights, privileges or benefits provided under the By-Laws.
(d) The Co-operative has 2 classes of ordinary shares which carry no right to fixed income.
18. SHARE CAPITAL
NOTES TO FINANCIAL STATEMENTS
March 31, 2013
Group and Co-operative
