21. Equity
| 2016 | Share Capital €000 |
Reserves €000 |
Total €000 |
|---|---|---|---|
| Opening balance at 1 January 2016 | 10,000 | (3,730) | 6,270 |
| Loss for the financial year | - | (1,647) | (1,647) |
| Balance at 31 December 2016 | 10,000 | (5,377) | 4,623 |
| 2015 | Share Capital €000 |
Reserves €000 |
Total €000 |
| At the beginning of the period | - | - | - |
| Share capital issued during the financial period | 10,000 | - | 10,000 |
| Loss for the financial 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. As at 31 December 2016, the Minister for Finance had subscribed for, and was issued with, 10,000,000 of the Company’s authorised shares.