110
CORDLIFE GROUP LIMITED
| ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2015
30.
OTHER RESERVES
(CONTINUED)
Merger reserve
Merger reserve represents the difference between the consideration paid/received and the equity interests
acquired/disposed, accounted for using the pooling of interest method.
Acquisition reserve
Acquisition reserve represents the excess of the consideration over the carrying value when the Group
acquired non-controlling interests in Cordlife (Hong Kong) Limited.
Share-based compensation reserve
Share-based compensation reserve represents the equity-settled share awards granted to employees. The
reserve is made up of the cumulative value of services received from employees recorded over the vesting
period commencing from the grant of share awards, and is reduced by the expiry or exercise of the share
awards.
Foreign currency translation reserve
Foreign currency translation reserve represents the exchange differences arising from the translation of the
financial statements of foreign subsidiaries whose functional currencies are different from that of the Group’s
presentation currency.
31.
COMMITMENTS
Capital commitments
The Group and the Company do not have capital commitments in respect of property, plant and equipment
that are contracted for as at 30 June 2015 and 2014.
Operating lease commitments – as lessee
The Group leases office space under non-cancellable lease arrangements which have remaining lease terms
ranging from 3 months to 14 years (2014: 5 months to 15 years). There are no renewal options and contingent
rent provisions included in the contracts. The Group is restricted from subleasing the premises.
Future minimum rentals payable under non-cancellable operating leases as at 30 June are as follows:
Group
Company
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Within one year
897
863
–
–
After one year but not more
than five years
2,654
2,135
–
–
More than five years
1,032
1,123
–
–
4,583
4,121
–
–
