Annual Report and Accounts 2011

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Notes to the Annual Financial Statements
For the year ended 30 June 2011

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17. Available-for-sale financial assets

US$ million 2011 2010
Balance at 1 July 0.8
Acquisition (4.45% shareholding) 0.9
Fair value adjustment taken to other reserves (no tax implications) (0.4) (0.1)
Balance at 30 June 0.4 0.8

The Company owns 4,500,000 ordinary shares in Stellar Diamonds plc ("Stellar"). At year end the Company adjusted the fair value of its investment in Stellar to the fair market value of £0.3 million (30 June 2010: £0.5 million), being US$0.4 million (30 June 2010: US$0.8 million). The movement of US$0.4 million (30 June 2010: US$0.1 million) was taken to other reserves. The reduction in value is not considered significant by management and the fair value reached £0.6 million during the year before reducing to £0.3 million at year end.