Ordinary shares have no par value and the Company does not have a limited amount of authorised capital. Voting rights of shareholders are governed by the Company’s Constitution. In summary, on a show of hands every holder of ordinary shares present at a meeting in person or by proxy is entitled to one vote, and upon a poll each such attending  shareholder is entitled to one vote for every fully paid ordinary share held. Ordinary shares participate in dividends as declared from time to time and the proceeds on winding up of the Company in  proportion to the number of fully paid ordinary shares held. (b) Movement in Ordinary Shares Issue Number of   Price Per Ordinary  Ordinary Date  Details  Note  Shares  Share  $ 1 July 2009  Opening balance in previous financial year  171,301,831  347,331,271 2 July 2009  Exercise of ESOP options  (i)  30,000  $2.95  88,500 7 July 2009  Exercise of ESOP options  (i)  50,000  $4.00  200,000 14 July 2009  Exercise of ESOP options  (i)  100,000  $2.95  295,000 14 July 2009  Exercise of ESOP options  (i)  100,000  $4.00  400,000 17 July 2009  Exercise of ESOP options  (i)  100,000  $2.95  295,000 21 July 2009  Exercise of ESOP options  (i)  100,000  $4.00  400,000 21 July 2009  Exercise of ESOP options  (i)  130,000  $2.95  383,500 22 July 2009  Exercise of ESOP options  (i)  30,000  $4.00  120,000 24 July 2009  Share purchase plan  (ii)  3,514,367  $6.70  23,546,259 27 July 2009  Exercise of ESOP options  (i)  200,000  $4.00  800,000 27 July 2009  Exercise of ESOP options  (i)  100,000  $5.00  500,000 30 July 2009  Exercise of ESOP options  (i)  10,000  $4.00  40,000 10 August 2009  Exercise of other share options  (i)  1,250,000  $4.00  5,000,000 28 October 2009  Exercise of ESOP options  (i)  100,000  $4.00  400,000 16 February 2010  Exercise of ESOP options  (i)  20,000  $2.95  59,000 16 February 2010  Exercise of ESOP options  (i)  42,500  $4.00  170,000 11 March 2010  Exercise of ESOP options  (i)  50,000  $4.00  200,000 16 March 2010  Exercise of ESOP options  (i)  60,000  $2.95  177,000 18 March 2010  Exercise of ESOP options  (i)  85,000  $4.00  340,000 23 March 2010  Exercise of ESOP options  (i)  165,000  $4.00  660,000 26 March 2010  Exercise of ESOP options  (i)  7,500  $4.00  30,000 Less: Transaction costs arising on ordinary shares issued during previous financial year  (288,318) Karoon Gas Australia Ltd  Annual Report 2011 61  Consolidated  Consolidated 2011 2010  2011 2010 Number Number  $ $ Note 20. Issued Capital and Reserves within Equity  (a) Share Capital  Ordinary shares, fully paid  221,420,769 177,546,198  664,894,335 381,147,212