REG - Jupiter Energy - Final Results <Origin Href="QuoteRef">JPR.AX</Origin> - Part 2
29/10/2014 13:45
- Part 2: For the preceding part double click ID:nRSW3515Sa
$12,101
During the current period, no performance rights vested.
REMUNERATION REPORT (Audited) (continued)
Details of remuneration (Audited)
Remuneration of Directors and Executives (continued)
Table 3: Compensation Performance Rights: Granted and vested during the year ended 30 June 2014
Granted Terms & Conditions for each Grant Vested
Number Grant / ModificationDate Fair Value per right at grant date$ Exercise price per right$ Expiry Date First Exercise Date Number %
New Grant
A Beardsall 333,333 7 Nov 2013 $0.0197 $0.00 31 Dec 2014 31 Dec 2014 - -
B Kuandykov 333,333 7 Nov 2013 $0.0197 $0.00 31 Dec 2014 31 Dec 2014 - -
G Gander 333,333 7 Nov 2013 $0.0197 $0.00 31 Dec 2014 31 Dec 2014 - -
S Mison 75,000 7 Nov 2013 $0.0197 $0.00 31 Dec 2014 31 Dec 2014 - -
Total 1,074,999 -
Modification *
A Beardsall - 7 Nov 2013 $0.0197(i) $0.00 31 Dec 2014 31 Dec 2014 - -
B Kuandykov - 7 Nov 2013 $0.0197(i) $0.00 31 Dec 2014 31 Dec 2014 - -
G Gander - 7 Nov 2013 $0.0197(i) $0.00 31 Dec 2014 31 Dec 2014 - -
S Mison - 7 Nov 2013 $0.0197(i) $0.00 31 Dec 2014 31 Dec 2014 - -
Total - -
Modification *
A Beardsall - 14 May 2012 $0.0197(i) $0.00 31 Dec 2014 31 Dec 2014 - -
B Kuandykov - 14 May 2012 $0.0197(i) $0.00 31 Dec 2014 31 Dec 2014 - -
G Gander - 14 May 2012 $0.0197(i) $0.00 31 Dec 2014 31 Dec 2014 - -
S Mison - 14 May 2012 $0.0197(i) $0.00 31 Dec 2014 31 Dec 2014 - -
Total - -
*The only modification was the expiry vesting date was extended from 7 November 2013 to 31 December 2014. All other terms
and conditions remained the same.
(i) Represents the incremental fair value, between the original and modified awards at modification date.
Table 4: Compensation Performance Rights: Granted and vested during the year ended 30 June 2013
Granted Terms & Conditions for each Grant Vested
Number Grant Date Fair Value per right at grant date$ Exercise price per right$ Expiry Date First Exercise Date Number %
Original Grant
Directors
A Beardsall 1,500,000 9 Nov 2012 $0.51 $0.00 31 Dec 2013 31 Dec 2013 - -
B Kuandykov 1,500,000 9 Nov 2012 $0.51 $0.00 31 Dec 2013 31 Dec 2013 - -
G Gander 1,500,000 9 Nov 2012 $0.51 $0.00 31 Dec 2013 31 Dec 2013 - -
S Mison 366,666 9 Nov 2012 $0.51 $0.00 31 Dec 2013 31 Dec 2013 - -
Total 4,866,666 -
REMUNERATION REPORT (Audited) (continued)
Details of remuneration (Audited)
Remuneration of Directors and Executives (continued)
Shareholdings
The number of shares in the Company held by each Key Management Personnel of Jupiter Energy Limited during the financial
year, including their personally-related entities, is set out below:
2014 Balance Granted as Remuneration On Exercise of Options Net Change Other Balance
30 June 2013 30 June 2014
Directors
G Gander 3,147,224 - - - 3,147,224
A Beardsall 1,250,000 - - - 1,250,000
B Kuandykov - - - - -
S Mison 391,238 - - - 391,238
Executives
K Martens - - - - -
J Kroshus - - - - -
2013 Balance Granted as Remuneration On Exercise of Options Net Change Other Balance
1 July 2012 30 June 2013
Directors
G Gander 2,551,113 - - 596,111 3,147,224
A Beardsall 1,000,000 - - 250,000 1,250,000
B Kuandykov - - - - -
S Mison 312,987 - - 78,251 391,238
Executives
K Martens - - - - -
J Kroshus - - - - -
Performance Rights Holdings
The number of Performance Rights in the Company held by each Director of Jupiter Energy Limited and each of the specified
Executives of the consolidated entity during the financial year, including their personally-related entities, is set out
below:
2014 Balance at beg of period Granted as Remune-ration Rights Exercised Net Change Other Balance at end of period Not Vested & Not Exercisable Vested & Exercisable
1 July 2013 30 June 2014
Directors
G Gander 2,166,667 333,333 - - 2,500,000 2,500,000 -
A Beardsall 2,166,667 333,333 - - 2,500,000 2,500,000 -
B Kuandykov 2,166,667 333,333 - - 2,500,000 2,500,000 -
S Mison 500,000 75,000 - - 575,000 575,000 -
Executives
K Martens - - - - - - -
J Kroshus - - - - - - -
REMUNERATION REPORT (Audited) (continued)
Details of remuneration (Audited)
Remuneration of Directors and Executives (continued)
2013 Balance at beg of period Granted as Remune-ration Rights Exercised Net Change Other * Balance at end of period Not Vested & Not Exercisable Vested & Exercisable
1 July 2012 30 June 2013
Directors
G Gander 666,667 1,500,000 - - 2,166,667 2,166,667 -
A Beardsall 666,667 1,500,000 - - 2,166,667 2,166,667 -
B Kuandykov 666,667 1,500,000 - - 2,166,667 2,166,667 -
S Mison 133,334 366,666 - - 500,000 500,000 -
Executives
K Martens - - - - - - -
J Kroshus - 200,000 - (200,000) - - -
* Relates to rights cancelled.
Option Holdings
The number of options in the Company held by each Key Management Personnel of the consolidated entity during the financial
year, including their personally-related entities, is set out below:
2014 Balance at beg of period Granted as Remune-ration Options Exercised Net Change Other Balance at end of period Not Vested & Not Exercisable Vested & Exercisable
1 July 2013 30 June 2014
Unlisted Options
Directors
G Gander - - - - - - -
A Beardsall - - - - - - -
B Kuandykov - - - - - - -
S Mison - - - - - - -
Executives
K Martens - - - - - - -
J Kroshus - - - - - - -
2013 Balance at beg of period Granted as Remune-ration Options Exercised Net Change Other * Balance at end of period Not Vested & Not Exercisable Vested & Exercisable
1 July 2012 30 June 2013
Unlisted Options
Directors
G Gander - - - - - -
A Beardsall - - - - - -
B Kuandykov - - - - - -
S Mison 66,667 - - (66,667) - - -
Executives
K Martens 133,333 - - (133,333) - - -
J Kroshus - - - - - -
*Change relates to the expiry of options which occurred during the year.
REMUNERATION REPORT (Audited) (continued)
Details of remuneration (Audited)
Remuneration of Directors and Executives (continued)
Service agreements
Remuneration and other terms of employment for the Executive Chairman/CEO, Company Sec/CFO, and all other key management
positions held in Kazakhstan have been formalised in service agreements. The main provisions of the agreements in relation
to Directors holding management roles are set out below.
Geoff Gander, Executive Chairman (Effective - 1 January 2014)
Base Terms
· This agreement was effective from 1 January 2014 and is for a term of 1 year (to 31 December 2014).
· Base Salary of GBP200,000 ($360,000) including Director Fees and the current Superannuation Levy of 9.5%.
· Living expenses of GBP 80,000 ($144,000) per year, covering the cost of an apartment/office in London.
· GBP 100,000 ($180,000) incentive bonus in the event a change of control occurs.
The termination provisions are as follows:
Notice period Payment in lieu of notice Treatment of Performance Rights
Employer - initiated termination with reason 1 or 3 months 1 or 3 months Unvested rights forfeited
Employer - initiated termination without reason 3 months 3 months Unvested rights forfeited
Termination for serious misconduct None None Unvested rights forfeited
Employee - initiated termination 1 or 3 months None Unvested rights forfeited
Scott Mison, CFO / Company Secretary / Executive Director (Effective - 1 January 2014)
Base Terms
· This agreement was effective from 1 January 2014 and is for a term of 1 year (to 31 December 2014).
· CFO / Company Secretary fees of $90,000.
· Director fees of $40,000.
· Bonus of $30,000 incentive bonus, with KPI's set by the board every six months.
The termination provisions are as follows:
Notice period Payment in lieu of notice Treatment of Performance Rights
Employer - initiated termination with reason 1 or 3 months 1 or 3 months Unvested rights forfeited
Employer - initiated termination without reason 3 months 3 months Unvested rights forfeited
Termination for serious misconduct None None Unvested rights forfeited
Employee - initiated termination 1 or 3 months None Unvested rights forfeited
REMUNERATION REPORT (Audited) (continued)
Details of remuneration (Audited)
Remuneration of Directors and Executives (continued)
Keith Martens, Technical Consultant (Effective - 1 July 2011)
Base Terms
· This agreement is effective from 1 July 2011. The term is on a rolling month basis.
· Fee is $2,000 (excluding GST) per full working day.
The termination provisions are as follows:
Notice period Payment in lieu of notice
Employer - initiated termination with reason 1 month 1 month
Employer - initiated termination without reason 1 month 1 month
Termination for serious misconduct None None
Employee - initiated termination 1 month None
End of Remuneration Report (Audited)
INDEMNIFICATION AND INSURANCE OF DIRECTORS AND OFFICERS
The Company has entered into Deeds of Indemnity with the Directors, indemnifying them against certain liabilities and costs
to the extent permitted by law.
The Company has also agreed to pay a premium in respect of a contract insuring the Directors and Officers of the Company
against certain liabilities and costs to the extent permitted by law. Full details of the cover and premium are not
disclosed as the insurance policy prohibits the disclosure.
CORPORATE GOVERNANCE
In recognising the need for the highest standards of corporate behaviour and accountability, the Directors of Jupiter
Energy Limited adhere to strict principles of corporate governance. The Company's corporate governance statement is
included on page 22 of this annual report.
AUDITOR INDEPENDENCE
The Directors received the declaration included on page 28 of this annual report from the auditor of Jupiter Energy
Limited.
NON-AUDIT SERVICES
There were no non-audit services provided by the entity's auditors, Ernst & Young during the year.
This report has been made in accordance with a resolution of the Directors.
G A Gander
Director
Perth, Western Australia
23 September 2014
CORPORATE GOVERNANCE STATEMENT
In recognising the need for the highest standards of corporate behaviour and accountability, the Directors of Jupiter
adhere to strict principles of corporate governance.
The Board of Directors of Jupiter Energy Limited is responsible for the overall corporate governance of the consolidated
entity, guiding and monitoring the business and affairs of Jupiter on behalf of the shareholders by whom they are elected
and to whom they are accountable.
The Company's corporate governance principles and policies are structured with reference to the Corporate Governance
Councils best practice recommendations, which are as follows:
Principle 1. Lay solid foundations for management and oversight
Principle 2. Structure the Board to add value
Principle 3. Promote ethical and responsible decision making
Principle 4. Safeguard integrity in financial reporting
Principle 5. Make timely and balanced disclosure
Principle 6. Respect the rights of shareholders
Principle 7. Recognise and manage risk
Principle 8. Remunerate fairly and responsibly
The Board's Corporate Governance Charter includes procedures for compliance with the ASX Listing Rules continuous
disclosure requirements, trading in the Company's securities, the management of risk, and a Code of Conduct. Jupiter's
corporate governance practices were in place throughout the year ended 30 June 2014.
BOARD OF DIRECTORS
Role of the Board
In general, the Board is responsible for, and has the authority to determine, all matters relating to the policies,
practices, management and operations of the Company. It is required to do all things that may be necessary to be done in
order to carry out the objectives of the Company.
Without intending to limit this general role of the Board, the principal functions and responsibilities of the Board
include the following:
· To set the strategic direction for the Company and monitor progress of those strategies;
· Establish policies appropriate for the Company;
· Monitor the performance of the Company, the Board and management;
· Approve the business plan and work programmes and budgets;
· Authorise and monitor investment and strategic commitments;
· Review and ratify systems for health, safety and environmental management; risk and internal control; codes of
conduct and regulatory compliance;
· Report to shareholders, including but not limited to, the Financial Statements of the Company; and
· Take responsibility for corporate governance.
CORPORATE GOVERNANCE STATEMENT (continued)
Composition of the Board
To add value to the Company the Board has been formed so that it has effective composition, size and commitment to
adequately discharge its responsibilities and duties given its current size and scale of operations.
The names of Directors of the Company in office at the date of this statement are set out in the Directors' Report.
Information regarding Directors' experience and responsibilities are included in the Directors' Report section of this
Annual Report.
The number of Directors is specified in the Constitution of the Company as a minimum of three up to a maximum of ten.
The preferred skills and experiences for a Director of the Company include:
· Exploration for oil and gas accumulations;
· Development and production operations of hydrocarbon accumulations;
· Financing of operations
· Business Development; and
· Public Company financial reporting and administration.
Chairman of the Board
The Chairman of the Board should be a Non-Executive Director and the Chairman will be elected by the Directors. Mr Geoff
Gander, however is an Executive Chairman and is not independent. Given his skills, experience and knowledge of the Company,
the Board considers that it is appropriate for him to be Chairman.
Independent Directors
The Board considers that a Director is independent if that Director complies with the following criteria:
· Apart from Director's fees and shareholding, independent Directors should not have any business dealings which could
materially affect their independent judgment;
· Must not have been in an Executive capacity in the Company in the last 3 years;
· Must not have been in an advisory capacity to the Company in the last 3 years;
· Must not be a significant customer or supplier for the Company;
· Must not be appointed through a special relationship with a Board member;
· Must not owe allegiance to a particular group of shareholders which gives rise to a potential conflict of interest;
· Must not hold conflicting cross Directorships; and
· Must not be a substantial shareholder or a nominee of a substantial shareholder (as defined under section 9 of the
Corporations Act).
Using the ASX Best Practice Recommendations on the assessment of the independence of Directors. The Board considers that of
a total of four Directors, only one is considered independent.
Mr Geoff Gander is an Executive Chairman of the Company and is not considered to be independent. However, his experience
and knowledge of the Company makes his contribution to the Board such that it is appropriate for him to remain on the
Board.
Mr Baltabek Kuandykov is an independent Non-Executive Director of the Company. His oil industry experience, especially
within Kazakhstan, makes his contribution to the Board important and significant.
Mr Alastair Beardsall is a Non-Executive Director of the Company and is not considered to be independent as he was a
nominee Director by The Waterford Group, a substantial shareholder. However, his experience and knowledge of the Company
makes his contribution to the Board such that it is appropriate for him to remain on the Board.
CORPORATE GOVERNANCE STATEMENT (continued)
Mr Scott Mison is an executive director / CFO / Company Secretary of the Company and is not considered to be independent.
However, his experience and knowledge of the Company makes his contribution to the Board such that it is appropriate for
him to remain on the Board.
Retirement and Rotation of Directors
Retirement and rotation of Directors are governed by the Corporations Act 2001 and the Constitution of the Company. Each
year one third Directors must retire and offer themselves for re-election. Any casual vacancy filled will be subject to
shareholder vote at the next Annual General Meeting of the Company.
Independent Professional Advice
Each Director has the right to seek independent professional advice at the Company's expense after consultation with the
Chairman. Once received the advice is to be made immediately available to all Board members.
Access to Employees
Directors have the right of access to any employee. Any employee shall report any breach of corporate governance principles
or Company policies to a Director and/or Company Secretary/CFO who shall remedy the breach. If the breach is not rectified
to the satisfaction of the employee, they shall have the right to report any breach to an independent Director without
further reference to senior managers of the Company.
Insurance
The Directors review the requirements for insurance cover for the associated risks for its field operations, including
drilling, production and storage of hydrocarbons and other activities and procures insurance cover at levels and costs they
feel are appropriate.
Directors and officers insurance for Directors will be arranged by the Company at Company expense.
Share Ownership
Directors are encouraged to own Company shares.
Board Meetings
The following points identify the frequency of Board Meetings and the extent of reporting from management at the meetings:
· A minimum of four meetings are to be held per year;
· Other meetings will be held as required, meetings can be held by telephone link; and
· Information provided to the Board includes all material information on: operations, budgets, cash flows, funding
requirements, shareholder movements, broker activity in the Company's securities, assets and liabilities, disposals,
financial accounts, external audits, internal controls, risk assessment, new venture proposals, and health, safety and
environmental (HSE) reports.
The number of Directors' meetings and the number of meetings attended by each of the Directors of the Company during the
financial year are set out in the Directors' Report.
Board Performance Review
There was no evaluation conducted during the financial year.
CORPORATE GOVERNANCE STATEMENT (continued)
Other Areas for Board Review
· Reporting to shareholders and the market to ensure trade in the Company's securities takes place in an efficient,
competitive and informed market; and
· Insurance, both corporate and joint venture related insurances.
Board Committees
Audit Committee
The Company does not have an audit committee. The Board is of the opinion that due to the nature and size of the Company,
the functions performed by an audit committee can be adequately handled by the full Board.
The CEO and the CFO declare in writing to the Board that the Company's financial statements for the year ended 30 June 2014
present a true and fair view, in all material aspects, of the Company's financial condition and operational results and are
in accordance with relevant accounting standards. This representation is made by the CEO and the CFO prior to the
Director's approval of the release of the annual and six monthly accounts. This representation is made after enquiry of,
and representation by, appropriate levels of management.
A non-executive Director meets with the Auditors without Executives present to go through the financial statements prior to
sign off on the accounts.
Jupiter Energy Limited has requested the external auditors to attend the annual general meeting to be available to answer
shareholders questions regarding the audit.
Nomination Committee
The Board of Directors of the Company does not have a nomination committee. The Board is of the opinion that due to the
nature and size of the Company, the functions performed by a nomination committee can be adequately handled by the full
Board.
Remuneration Committee
The Company does not have a remuneration committee. The Board is of the opinion that due to the nature and size of the
Company, the functions performed by a remuneration committee can be adequately handled by the full Board.
Remuneration levels for Directors, Secretaries, Senior Executives of the Company, and relevant group Executives of the
consolidated entity ("the Directors and Senior Executives") are competitively set to attract and retain appropriately
qualified and experienced Directors and Senior Executives.
The remuneration structures explained below are designed to attract suitably qualified candidates, reward the achievement
of strategic objectives, and achieve the broader outcome of creation of value for shareholders. The remuneration structures
take into account:
· the capability and experience of the Directors and Senior Executives
· the Directors and Senior Executives ability to control the relevant segment/s' performance
· the consolidated entity's performance including:
o the consolidated entity's earnings
o the growth in share price and returns on shareholder wealth
· the amount of incentives within each Directors and Senior Executives remuneration
For details of remuneration paid to Directors and officers for the financial year please refer to the Directors' Report on
page 17.
CORPORATE GOVERNANCE STATEMENT (continued)
Risk Management
The risks involved in oil and gas exploration Company and the specific uncertainties for the Company continue to be
regularly monitored and the full Board of the Company meets on an annual basis to formally review such risks. All proposals
reviewed by the Board include a consideration of the issues and risks of the proposal.
The potential exposures, including financial, reputation, and HSE, with running the Company have been managed by the Board
and senior management in Kazakhstan who together have significant broad-ranging industry experience.
Additionally, it is the responsibility of the Board to assess the adequacy of the Company's internal control systems and
that its financial affairs comply with applicable laws and regulations and professional practices. The CEO and the CFO
declare in writing to the Board that the financial reporting risk management and associated compliance controls have been
assessed and found to be operating efficiently and effectively. This representation is made by the CEO and CFO prior to the
Director's approval of the release of the annual and six monthly accounts. This representation is made after enquiry of,
and representation by, appropriate levels of management.
PROMOTION OF ETHICAL AND RESPONSIBLE DECISION-MAKING
Code of Conduct
The goal of establishing the Company as a significant Australian-based petroleum exploration and production Company is
underpinned by its core values of honesty, integrity, common sense and respect for people. The Company desires to remain a
good corporate citizen and appropriately balance, protect and preserve all stakeholders' interests.
The Board has adopted a Code of Conduct for Directors and employees of the Company. The Company's goal of achieving above
average wealth creation for our shareholders should be enhanced by complying with this Code of Conduct which provides
principles to which Directors and employees should be familiar and to which they are expected to adhere and advocate.
It is the responsibility of the Board to ensure the Company performs under this Code and for its regular review.
Diversity
The Board has not adopted a separate diversity policy, however is committed to workplace diversity and recognizes the
benefits arising from recruitment, development and retention of talented, diverse and motivated workforce. The Company is
not of a sufficient size to justify measurable objectives at this stage. As at 30 June 2014, there were thirteen women in
the Groups workforce, two of which held key executive positions.
Trading in Company Securities by Directors, officers and employees
Trading of shares is covered by, amongst other things, the Corporations Act, the ASX Listing Rules, the AIM Listing Rules
and the KASE Listing Rules. The Board has established a Securities Trading Policy that establishes strict guidelines as to
when a Director, officer or an employee can deal in Company shares. The policy prohibits trading in the Company's
securities whilst the Directors, officer or employee is in the possession of price sensitive information.
For details of shares held by Directors and Officers please refer to the Directors' Report on page 3.
CORPORATE GOVERNANCE STATEMENT (continued)
SHAREHOLDER COMMUNICATION
The Board aims to ensure that shareholders and the general investing community have equal access to the Company's
information.
The Company has policies and procedures that are designed to ensure compliance with ASX, AIM and KASE Listing Rules
disclosure requirements and to ensure accountability at a senior management level for that compliance. This disclosure
policy includes processes for the identification of matters that may have material effect on the price of the Company's
securities, notifying them to the ASX and posting them on the Company's website.
The Company also has a strategy to promote effective communication with shareholders and encourage effective participation
at general meetings through a policy of open disclosure to shareholders, regulatory authorities and the broader community
of all material information with respect to the Company's affairs including, but not limited to:
· Company's activities
· Conflicts of interest and related party transactions;
· Executive remuneration;
· The grant of options and details of Share Option and Performance Rights Plans;
· The process for performance evaluation of the Board, its committees, individual Directors and key managers;
· The link between remuneration paid to Directors and Executives and corporate performance; and
· The use of clear and concise text in all communications.
The following information is communicated to shareholders and available on the Company web site (www.jupiterenergy.com):
· The Annual Report and notices of meetings of shareholders;
· Quarterly reports reviewing the operations, activities and financial position of the Company;
· All documents that are released to the ASX, AIM and KASE are made available on the Company's website; and
· All other information on the Company's website is updated on an ongoing basis.
Financial Statements
FOR THE YEAR ENDED 30 JUNE 2014
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2014
Note Consolidated
2014A$ 2013A$
Revenue 7,586,442 5,778,057
Cost of sales (5,540,935) (4,869,004)
Gross profit 2,045,507 909,053
FX gain / (loss) 809,868 (694,342)
Loss on extinguishment of convertible notes (295,194) -
Gain / (loss) on derivative financial instrument 614,301 (161,442)
General and administrative costs 4 (3,790,286) (4,499,291)
Operating loss (615,804) (4,446,022)
Finance income 23,910 34,779
Finance costs (1,955,377) (474,586)
Loss before tax (2,547,271) (4,885,829)
Income tax expense 5 - -
Loss after income tax (2,547,271) (4,885,829)
Other comprehensive income net of tax
Foreign currency translation (12,643,204) 5,816,477
Total comprehensive profit / (loss) for the period (15,190,475) 930,648
Earnings per share for loss attributable to the ordinary equity holders of the Company:
Basic loss per share (cents) 24 (1.66) (3.25)
Diluted loss per share (cents) 24 (1.66) (3.25)
The consolidated statement of comprehensive income is to be read in conjunction with the notes of the financial statements
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2014
Note Consolidated
2014 2013
A$ A$
ASSETS
Current Assets
Cash and cash equivalents 6 1,285,358 4,131,731
Trade and other receivables 7 1,296,631 1,119,496
Other current assets 8 268,880 264,717
Inventories 9 49,606 59,087
Total Current Assets 2,900,475 5,575,031
Non-Current Assets
Trade and other receivables 7 2,522,291 3,818,391
Oil and gas properties 10 20,283,793 25,908,977
Plant and equipment 11 1,042,508 1,617,097
Exploration and evaluation expenditure 12 31,986,316 34,710,757
Other financial assets 13 482,815 460,951
Total Non-Current Assets 56,317,723 66,516,173
Total Assets 59,218,198 72,091,204
Current Liabilities
Trade and other payables 14 1,030,222 2,678,639
Deferred revenue 15 844,773 1,642,837
Other financial liabilities 17 - 3,280,160
Derivative liability 17 229,400 763,177
Provisions 16 58,061 86,574
Total Current Liabilities 2,162,456 8,451,387
Non-current Liabilities
Provisions 16 294,538 452,942
Other financial liabilities 17 16,931,066 8,613,730
Total Non-Current Liabilities 17,225,604 9,066,672
Total Liabilities 19,388,060 17,518,059
Net Assets 39,830,138 54,573,145
Equity
Contributed equity 18 85,633,935 85,633,935
Share based payment reserve 19 5,695,838 5,248,370
Foreign currency translation reserve 19 (11,573,714) 1,069,490
Accumulated losses (39,925,921) (37,378,650)
Total Equity 39,830,138 54,573,145
The consolidated statement of financial position is to be read in conjunction with the notes of the financial statements.
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2014
Note Consolidated
2014 2013
A$ A$
Cash flow from operating activities
Receipts from customers 8,565,902 9,250,333
Payments to suppliers and employees (10,580,704) (11,257,385)
Interest received 23,910 34,779
Net cash flows (used in) operating activities 26 (1,990,892) (1,972,273)
Cash flows from investing activities
Payments for exploration and evaluation expenditure (3,954,596) (16,634,046)
Payments for plant and equipment (20,461) (843,706)
Net Cash flows (used in) investing activities (3,975,057) (17, 477,752)
Cash flows from financing activities
Proceeds from issues of shares - 11,613,015
(Repayment) / Proceeds from unsecured loan (3,190,500) 5,760,840
Proceeds from convertible notes 6,916,800 6,189,480
Fee on issue of convertible note (208,065) (281,988)
Transactions cost from issue of shares and convertible notes - (501,217)
Interest paid - (148,378)
Net cash flows from financing activities 3,518,235 22,631,752
Net increase / (decrease) in cash held (2,447,714) 3,181,727
Effects of exchange rate changes (398,659) 554,559
Cash at beginning of the year 4,131,731 395,445
Cash at end of the year 6 1,285,358 4,131,731
The statement of cash flows is to be read in conjunction with the notes of the financial statements.
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2014
Issued capital Share Based PaymentReserve Foreign Currency Translation Reserve Accumulated Losses Total
A$ A$ A$ A$ A$
CONSOLIDATED
As at 1 July 2012 71,236,136 4,472,289 (4,746,987) (32,492,821) 38,468,617
Loss for the period - - - (4,885,829) (4,885,829)
Other comprehensive income - - 5,816,477 - 5,816,477
Total comprehensive income - - 5,816,477 (4,885,829) 930,648
Transactions by owners recorded directly in equity:
Share based payments - 776,081 - - 776,081
Shares issued 14,899,015 - - - 14,899,015
- Costs of issue (501,216) - - - (501,216)
At 30 June 2013 85,633,935 5,248,370 1,069,490 (37,378,650) 54,573,145
As at 1 July 2013 85,633,935 5,248,370 1,069,490 (37,378,650) 54,573,145
Loss for the period - - - (2,547,271) (2,547,271)
Other comprehensive income - - (12,643,204) - (12,643,204)
Total comprehensive income - - (12,643,204) (2,547,271) (15,190,475)
Transactions by owners recorded directly in equity:
Share based payments - 447,468 - - 447,468
At 30 June 2014 85,633,935 5,695,838 (11,573,714) (39,925,921) 39,830,138
The statements of changes in equity are to be read in conjunction with the notes of the financial statements.
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30 JUNE 2014
1 CORPORATE INFORMATION
The financial report of Jupiter Energy Limited for the year ended 30 June 2014 was
authorised for issue in accordance with a resolution of the directors on 23 September
2014.
Jupiter Energy Limited is a company limited by shares incorporated in Australia whose
shares are publicly traded on the Australian Stock Exchange and on London's AIM
Market (as CDI's). Jupiter Energy Limited is a for profit entity.
- More to follow, for following part double click ID:nRSW3515ScRecent news on Jupiter Energy
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AnnouncementREG - Jupiter Energy - Appendix 5B <Origin Href="QuoteRef">JPR.AX</Origin>
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AnnouncementREG - Jupiter Energy - Notice of Cancellation of AIM Listing <Origin Href="QuoteRef">JPR.AX</Origin>
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