Note 18. Reserves 30-June-24 $ 30-June-23 $ Share-based payments reserve 687,702 404,684 Foreign Currency Translation (1,132,945) (258,952) (445,243 ) 145,732 Financial assets at fair value through other comprehensive income reserve The reserve is used to recognise increments and decrements in the fair value of financial assets at fair value through other comprehensive income. Foreign currency reserve The reserve is used to recognise exchange differences arising from the translation of the financial statements of foreign operations to Australian dollars. It is also used to recognise gains and losses on hedges of the net investments in foreign operations. Share-based payments reserve The reserve is used to recognise the value of equity benefits provided to employees and Directors as part of their remuneration, and other parties as part of their compensation for services. Information relating to the Consolidated Entity’s details of options issued, exercised and lapsed during the financial year and options outstanding at the end of the reporting period, is set out in the Consolidated statement of changes in equity on page 40. Movements in reserves Movements in each class of reserve during the current and previous financial year are set out below: Share based payment reserve $ Foreign currency reserve $ Total $ Balance at 1 July 2022 1,453,859 (814,519) 639,340 Share Options Exercised (1,433,127) – (1,433,127) Share Options Expired (20,732) – (20,732) Performance Rights Issued 404,684 – 404,684 Foreign Currency Translation Reserve – 555,567 555,567 Balance at 30 June 2023 404,684 (258,952) 145,732 Performance Rights Issued 977,638 – 977,638 Performance Rights Lapsed (694,620) – (694,620) Foreign Currency Translation Reserve – (873,993) (873,993) Balance at 30 June 2024 687,702 (1,132,945) (445,243) Note 19. Dividends There were no dividends paid, recommended or declared during the current or previous financial year. Notes to the Consolidated Financial Statements for the year ended 30 June 2024 58 Melbana Energy Limited Annual Report 2024
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