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AFRICAN DAWN 2015 Annual Report

Notes to the Financial Statements continued Group Company 2015 R’000 2014 R’000 16. Share capital and share premium The total shares in issue as at 28 February 2015 amounted to 880,270,597 (2014: 508,184,155). Group Company 2015 R’000 2014 R’000 Share premium 317,972 292,392 317,972 292,392 Treasury shares (12,832) (12,832) (12,832) (12,832) Total share premium 305,140 279,560 305,140 279,560 Ordinary shares 8,803 5,074 8,803 5,074 313,943 284,634 313,943 284,634 AFRICAN DAWN 87 ANNUAL REPORT 2015 2015 R’000 2014 R’000 Authorised 5,000,000,000 Ordinary shares of 1c each 50,000,000 50,000,000 50,000,000 50,000,000 Reconciliation of number of shares in issue Reported as at 01 March net of treasury shares 508,184 508,184 508,184 508,184 Issue of ordinary shares in rights offer 272,086 - 272,086 - Issue of shares to Knife Capital Vendors 100,000 - 100,000 - 880,270 508,184 880,270 508,184 Reconciliation of share values 'R000: Reported at beginning of period 284,634 284,634 284,634 284,634 Issue of ordinary shares in rights offer 21,767 - 21,767 - Issue of shares to Knife Capital Vendors (refer to note 37) 9,000 - 9,000 - Capitalisation of share issue costs (1,458) - (1,458) - 313,943 284,634 313,943 284,634 2015 R’000 2014 R’000 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 current financial year and the bond holders decided not to convert the bonds into shares. Further details on the convertible bonds are disclosed in note 19. 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 37 for further details on the acquisition of Knife Capital Group. Refer to note 45 for details on the delisting of the treasury shares.


AFRICAN DAWN 2015 Annual Report
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