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The financial effect of this dividend has not been recognised as a liability in these financial statements but will be brought to account in the 2013 financial year. 

## Dividend reinvestment plan 

The AGL Dividend Reinvestment Plan (DRP) will be in operation and shares will be allotted at a 1.5% discount to the simple average of the daily weighted average market price at which AGL’s ordinary shares are traded on ASX during each of the 10 trading days commencing on 7 September 2012. 

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The carrying amounts of cash and cash equivalents represent fair value. Bank balances and short-term deposits earn interest at floating rates based upon market rates. 

Short-term deposits are made for varying periods of between one day and three months depending on the immediate cash requirements of the consolidated entity. All deposits are held with financial institutions approved by the Board. 

## Restricted cash balances 

Great Energy Alliance Corporation Pty Limited, a subsidiary acquired by the consolidated entity on 29 June 2012, has cash and cash equivalents at 30 June 2012 of $77.0 million which are held in reserve accounts which may only be used for the purposes specified under the project financing documents. This includes up to six months of debt repayments and a diminishing percentage of budgeted capital expenditure. 

