Maxis Berhad | Annual Report 2013

Maxis Berhad | Annual Report 2013 148 32 RESERVES (CONTINUED) (c) Other reserves (continued) SHARE-BASED PAYMENTS IN RELATION TO SHARE CASH FLOW COMPANY NOTE THE LISTING OPTIONS HEDGING TOTAL RM’000 RM’000 RM’000 RM’000 2013 As at 1 January 2013 53,074 2,964 (105,680) (49,642) Net change in hedging: - fair value gains – – 397,462 397,462 - reclassified to finance costs 11(b) – – (230,518) (230,518) Share options granted – 4,353 – 4,353 Shares issued – (694) – (694) Share options lapsed – (8) – (8) As at 31 December 2013 53,074 6,615 61,264 120,953 2012 As at 1 January 2012 53,074 668 (208,649) (154,907) Net change in hedging: - fair value losses – – (6,864) (6,864) - reclassified to finance costs 11(b) – – 109,833 109,833 Share options granted – 2,427 – 2,427 Shares issued – (131) – (131) As at 31 December 2012 53,074 2,964 (105,680) (49,642) The share-based payment reserve represents discount on shares issued to retail investors in relation to the Listing. The share options reserve comprises fair value share options granted less any shares issued under the ESOS. When share options are exercised, the proceeds received from the exercise of these share options together with the corresponding share options reserve, net of any directly attributable transactions costs are transferred to share capital (nominal value) and share premium. If the share options expire or lapse, the corresponding share options reserve attributable to these share options is transferred to retained earnings. The cash flow hedging reserve represents the deferred fair value gains/(losses) relating to derivative financial instruments used to hedge certain borrowings of the Group and of the Company. The currency translation differences reserve comprises all foreign exchange differences arising from the translation of the financial statements of foreign entities. NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2013 Continued