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Notes to the
financial statements
For the financial year ended 31 December 2018
126
B A K E R T E C H N O L O G Y
L I M I T E D
23.
Share capital
Group and Company
2018
2017
No. of
shares
$’000
No. of
shares
$’000
Issued and fully paid:
At 1 January and 31 December
202,877,948 108,788
202,877,948
108,788
The holders of ordinary shares are entitled to receive dividends as and when declared by the
Company. All ordinary shares carry one vote per share without restriction. The ordinary shares have
no par value.
24.
Commitments and contingencies
(a)
Capital commitments
Capital expenditure contracted for as at the end of the reporting period in respect of property,
plant and equipment and unquoted equity securities contracted for but not recognised in the
financial statements was $Nil and $168,000 (2017: $16,000 and $291,000) respectively.
(b)
Operating lease commitment – as lessee
The Group leases its properties and certain equipment under lease agreements that are
non-cancellable within a year and contain provisions for rental adjustments. These leases
have an average tenure of between five to twelve years with no contingent rent provision
included in the contracts. There are restrictions placed on subleasing the leased equipment
and properties to third party.
Future minimum rental payable under non-cancellable operating leases at the end of the
reporting period are as follows:
Group
31.12.2018
31.12.2017
1.1.2017
$’000
$’000
$’000
Not later than one year
1,063
1,073
1,226
Later than one year but no later than five years
4,213
4,244
4,880
Later than five years
885
1,939
3,510
6,161
7,256
9,616