NOTES TO THE COMPANY ANNUAL FINANCIAL STATEMENTS l NOTE 10

      2014
Number
of shares		   2013
Number
of shares		   2014
R’000		   2013
R’000		  
10. SHARE CAPITAL                  
  Authorised                  
  Total authorised share capital of ordinary shares (par value of R0.000001 each)   1 000 000 000   1 000 000 000   1   1  
  Issued                  
  Balance at the beginning of the year   661 635 258   661 501 917   *   *  
  Shares acquired during the year   (1 368 822)   (2 567 171)   *   *  
  Shares vested during the year – Blue Label Telecoms Limited   1 817 292   1 232 031   *   *  
  Shares vested during the year – Blue Label Telecoms Limited subsidiaries   1 812 630   1 468 481   *   *  
  Balance at the end of the year   663 896 358   661 635 258   *   *  
  * Less than R1 000.

All issued shares are fully paid up.

The total number of shares in issue, including shares held as treasury shares as at 31 May 2014, is 674 509 042 (2013: 674 509 042).

The Company acquired 1 368 822 (2013: 2 567 171 ) shares at an average price of R8.12 (2013: R6.71) on the JSE in order to grant forfeitable shares to employees and directors.

The amount paid to acquire these shares was R11 120 071 (2013: R17 222 717) and has been deducted from shareholders’ equity.

These shares are held as “treasury shares”. See note 11 for details on the forfeitable shares.

NOTES TO THE COMPANY ANNUAL FINANCIAL STATEMENTS l NOTE 10