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AFRICAN DAWN Annual Report 2016

continued Notes to the Financial Statements Annual Financial Statements For the year ended 29 February 2016 Group Company 2016 R’000 2015 R’000 2016 R’000 14. Share capital and share premium Authorised 5,000,000,000 Ordinary shares of 1c each 50,000 50,000 50,000 50,000 The total shares in issue as at 29 February 2016 amounted to 877,002,273 (2015: 880,270,597). Reconciliation of number of shares in issue Reported as at 01 March 880,270 508,184 880,270 508,184 Treasury shares cancelled (3,268) - - - Issue of ordinary shares in rights offer - 272,086 - 272,086 Issue of shares to Knife Capital Vendors - 100,000 - 100,000 877,002 880,270 880,270 880,270 Reconciliation of share values 'R000: Reported at beginning of period 313,943 284,634 313,943 284,634 Issue of ordinary shares in rights offer - 21,767 - 21,767 Issue of shares to Knife Capital Vendors (refer to note 36) - 9,000 - 9,000 Capitalisation of share issue costs - (1,458) - (1,458) 313,943 313,943 313,943 313,943 Group Company 2016 R’000 2015 R’000 2016 R’000 2015 R’000 2015 R’000 Share premium 305,140 317,972 305,140 317,972 Treasury shares - (12,832) - (12,832) Total share premium 305,140 305,140 305,140 305,140 Ordinary shares 8,803 8,803 8,803 8,803 313,943 313,943 313,943 313,943 As part of the capital raising completed on 31 October 2011, two convertible bonds were issued which were convertible into ordinary share capital at the option of the holders after 3 years from the commencement date. The conversion option of the bond holders became due during the 2015 financial year and the bond holders decided not to convert the bonds into shares. Further details on the convertible bonds are disclosed in note 17. During March 2014 a 1 for 1 rights offer of 222,086,442 shares were taken up at 8c per share, with a further 50,000,000 shares being issued to the underwriter of the share issue. At around the same time as the rights issue took place 100,000,000 shares at 9c per share were issued to the vendors of Knife Capital to purchase 100% of the share capital. Refer to note 32 for further details on the acquisition of Knife Capital Group. AFRICAN DAWN ANNUAL REPORT 2016 75


AFRICAN DAWN Annual Report 2016
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