20. Equity
| Share capital €000 |
Reserves €000 |
Total €000 |
|
|---|---|---|---|
| Opening Balance | - | - | - |
| Share capital issued during the period | 10,000 | - | 10,000 |
| Loss for the period | - | (3,730) | (3,730) |
| Balance at 31 December 2015 | 10,000 | 3,730 | 6,270 |
The authorised share capital of the Company is €250,000,000 divided into 250,000,000 shares of €1.00 each. In accordance with section 11 of the SBCI Act 2014, the Company’s authorised share capital may be increased to such other amount, up to a maximum of €1,000,000,000, as may be determined by the Minister for Finance by order from time to time.
The Minister for Finance subscribed for, and was issued with, 10,000,000 of the Company’s authorised shares on its incorporation and is the sole shareholder of the Company.