Notes to the Company annual financial statements | Note 9

9. Share capital and premium
 

Accounting policy
 

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities.

Ordinary shares are classified as equity and the shares are fully paid up.

Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Shares acquired by BLT for its own employees' equity compensation benefit scheme, including the shares procured on behalf of the subsidiaries in terms of this scheme, are accounted for as treasury shares in the statement of financial position.

Authorised
2 000 000 000 ordinary shares with no par value
Reconciliation of shares issued (net of treasury shares) Number of 
shares 
2023 		 Number of 
shares 
2022 
Balance at the beginning of the year  913 093 326  911 063 687 
Shares acquired during the year  (10 575 666) (1 955 484)
Shares sold during the year1  10 646 215  9 251 973 
Shares forfeited during the year2  (2 343 600) (5 266 850)
910 820 275  913 093 326 
Total number of shares in issue  913 655 874  913 655 874 
Treasury shares  (2 835 599) (562 548)
     
1 Shares sold to subsidiaries and associates in relation to the Blue Label Telecoms Group Forfeitable Share Scheme.
2 Purchase of shares that have been forfeited by subsidiaries and associates in relation to the Blue Label Telecoms Group Forfeitable
Share Scheme.

 

Issued  2023 
R'000 		 2022 
R'000 
913 655 874 (2022: 913 655 874) ordinary shares  7 686 524  7 686 524 
Treasury shares  (47 088) (25 292)
7 639 436  7 661 232 

All shares issued are fully paid up.

Treasury shares acquired 2023 2022
Number of shares acquired during the year 10 575 666 1 955 484
Average price paid for shares acquired (rand) 6.58 6.48
Amount paid to acquire shares (R'000) 69 633 12 665