IGO Interactive Annual Report 2018

Notes to the consolidated financial statements 30 June 2018 (continued) 18 Reserves and accumulated losses 2018 $'000 2017 $'000 Hedging reserve 1,393 (391) Share-based payments reserve 13,340 10,698 Foreign currency translation reserve 38 (4) Acquisition reserve - 3,142 14,771 13,445 (a) 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 2017 (391) 10,698 3,142 (4) 13,445 Revaluation - gross 3,140 - - - 3,140 Deferred tax (942) - - - (942) Transfer to profit or loss - gross (591) - - - (591) Deferred tax 177 - - - 177 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 Balance at 1 July 2016 (632) 10,371 3,142 (8) 12,873 Revaluation - gross 676 - - - 676 Deferred tax (203) - - - (203) Transfer to profit or loss - gross (331) - - - (331) Deferred tax 99 - - - 99 Currency translation differences - current period - - - 4 4 Share-based payment expenses - 1,147 - - 1,147 Issue of shares under the Employee Incentive Plan - (820) - - (820) Balance at 30 June 2017 (391) 10,698 3,142 (4) 13,445 Independence Group NL 33 IGO ANNUAL REPORT 2018— 97 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 30 JUNE 2018