b'NOTES TO THE FINANCIAL STATEMENTS >for the year ended 30 June 2019NOTE 23. NON-CURRENT LIABILITIESEMPLOYEE BENEFITS CONSOLIDATED20192018 $$Long service leave 55,594 42,40855,594 42,408NOTE 24. EQUITYISSUED CAPITALCONSOLIDATED2019 2018 2019 2018Shares Shares $ $Ordinary sharesfully paid 823,592,773 823,592,773 358,656,945 358,656,945DETAILS SHARES $Balance at 30 June 2017831,211,424 359,968,884 Employee short-term incentive 766,014 Share buybacks(7,618,651)(2,077,953)Balance at 30 June 2018823,592,773 358,656,945 Balance at 30 June 2019823,592,773 358,656,945 ORDINARY SHARES as value adding relative to the current parent entitys shareOrdinary shares entitle the holder to participate in dividendsprice at the time of the investment.and the proceeds on the winding up of the company inThe consolidated entity is subject to certain financing proportion to the number of and amounts paid on the sharesarrangements and meeting these is given priority in all capital held. The fully paid ordinary shares have no par value and therisk management decisions. The financing arrangements company does not have a limited amount of authorised capital. contain certain covenants relating to interest cover (the ratio On a show of hands every member present at a meeting inof consolidated EBITDA to consolidated finance charges) and person or by proxy shall have one vote and upon a poll eachdebt ratio (the ratio of consolidated net debt to EBITDA), share shall have one vote. which apply to Donaco Hong Kong Limited. In addition, covenants relating to the debt equity ratio (the ratio of CAPITAL RISK MANAGEMENT consolidated total debt to consolidated total equity), and The consolidated entitys objectives when managing capitalminimum cash holdings, apply to the consolidated entity.are to safeguard its ability to continue as a going concern,There have been no events of default on the financing so that it can provide returns for shareholders and benefitsarrangements during FY19. for other stakeholders and to maintain an optimum capital structure to reduce the cost of capital. The capital risk management policy remains unchanged from In order to maintain or adjust the capital structure, thethe 2018 financial statements.consolidated entity may adjust the amount of dividends paidTreasury shares are shares in Donaco International Limited to shareholders, return capital to shareholders, issue newthat are held by Smartequity EIS Pty Ltd for the purpose of shares or sell assets to reduce debt. issuing shares under the employee share scheme. Shares issued The consolidated entity would look to raise capital when to employees are recognised on a first-in-first-out basis.an opportunity to invest in a business or company was seen68 DONACO INTERNATIONAL LIMITED 2019 ANNUAL REPORT'