Share Capital
The share capital comprises the issued ordinary shares of the company at par.

Share Premium
The share premium comprises the excess value recognised from the issue of ordinary shares at par.

Accumulated Profit
The accumulated profit comprises the group’s cumulative accounting profit since inception.

Other Reserves
Other reserves include the cumulative charge recognised under IFRS 2 in respect of share option schemes (net of amounts transferred to share capital and share premium) and the mark-to-market valuation of derivative financial instruments designated as cash flow hedges (refer Note 21).
At 31 December 2008, the balance of the share-based payment reserve amounted to US$9.6 million (31 December 2007: US$4.4 million). The balance of the hedging reserve amounted to US$41 million (31 December 2007: US$73.8 million). Refer to Note 21 for further details on the hedging reserve.

# Restricted shares were issued to directors as remuneration. Of these shares, 63 594 (2007: 57 000) have vested, while the remainder of the shares, 5 826 (2007: 7 704) are still held by the company as treasury shares. The transfer between “other reserves” and “share premium” in respect of the shares vested represents the cost calculated in accordance with IFRS 2.