Impact Minerals Ltd Annual Report 2022 59 Notes to the Consolidated Financial Statements continued NOTE 15: CONTRIBUTED EQUITY (CONTINUED) b) Movements in ordinary shares on issue Consolidated Number $ Balance at 30 June 2020 1,559,494,630 46,931,843 Share issued during the year: – Placement(a) 216,333,333 3,245,000 – Share issue(b) 838,065 18,750 – Option conversion(c) 2,708,434 54,160 – Share issue(d) 1,996,215 40,000 – Placement(e) 242,424,242 4,000,000 – Transaction costs – (502,114) Balance at 30 June 2021 2,023,794,919 53,787,639 Share issued during the year: – Placement(f) 166,666,667 2,000,000 – Rights issue(g) 290,908,970 3,199,999 – Transaction costs – (560,771) Balance at 30 June 2022 2,481,370,556 58,426,867 (a) In July 2020, the Company raised $3,245,000 (before costs) via a placement of 216,333,333 new shares at an issue price of 1.5 cents each. (b) During the prior reporting period the Company issued a total of 838,065 new shares as part consideration for geological consulting services in relation to the identification of, and application for, the Doonia project (tenement E15/1790). (c) During the prior reporting period the Company issued 2,708,434 new shares for nil consideration on the cashless exercise of 8,000,000 employee options. (d) In January 2021, the Company issued 1,996,215 new shares as part consideration for geological consulting services in relation to the grant of the five tenements in the Yilgarn Craton of Western Australia (Arkun project) refer Note (b) above. (e) In April 2021, the Company raised $4,000,000 (before costs) via a placement of 242,424,242 new shares at an issue price of 1.65 cents each. (f) In March 2022, the Company raised $2,000,000 (before costs) via a placement of 166,666,667 new shares at an issue price of 1.2 cents each. (g) In June 2022 the Company completed a Renounceable Rights Issue raising $3,199,999 (before costs) via the issue of 290,908,970 new shares at an issue price of 1.1 cents each together with one free attaching listed option exercisable at $0.02 on or before 2 June 2024 for every two new shares subscribed for (145,454,389 Listed Options). A further 12,800,000 listed options were issued to the underwriter as part consideration for their services. Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds. Ordinary shares have the right to receive dividends as declared, and in the event of winding up the Company, to participate in the proceeds from the sale of all surplus assets in proportion to the number of and amounts paid up on shares held. Ordinary shares entitle their holder to one vote, either in person or by proxy, at a meeting of the Company.
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