SENWES ANNUAL FINANCIAL STATEMENTS 2022
14 . ISSUED CAPITAL
Authorised : 581 116 758 ( 2022 and 2021 ) ordinary shares of 0,516 cents each Issued : 180 789 308 ( 2022 and 2021 ) ordinary shares of 0,516 cents each
GROUP 2022 R ' m
2021 R ' m
COMPANY 2022 R ' m
2021 R ' m
3 3 3 3
1 1 1 1
|
GROUP |
|
COMPANY |
|
Reconciliation of issued shares : |
2022 |
2021 |
2022 |
2021 |
|
Number of shares |
|
Number of shares |
|
Shares issued * |
180,789,308 |
180,789,308 |
180,789,308 |
180,789,308 |
Treasury shares purchased ** |
( 17,841,428 ) |
( 14,257,310 ) |
- |
- |
Treasury shares vested *** |
7,302,061 |
5,493,372 |
- |
- |
Total shares in issue |
170,249,941 |
172,025,370 |
180,789,308 |
180,789,308 |
* During the year under review , no shares were issued or repurchased . ( 2021 : Senwes issued , and repurchased 4 948 812 treasury shares from Senwes Capital ( Pty ) Ltd which were subsequently cancelled as part of the Suidwes Holdings ( Pty ) Ltd transaction .) ** Senwes Capital ( Pty ) Ltd (" Senwes Capital "), a subsidiary of Senwes Ltd , repurchased 3 337 395 of the company ' s shares during the year under review ( 2021 : Senwes Capital repurchased 4 345 287 shares ). Senwes Capital also sold 2 564 144 shares ( 2021 : 5 906 218 shares ) during the year . This included sales to the Senwes Share Incentive Scheme Trust of 2 564 144 shares ( 2021 : 957 406 shares ) and 4 948 812 shares sold relating to the Suidwes Holdings ( Pty ) Ltd business transaction in the prior year . Senwes Capital therefore held 3 951 221 shares ( 2021 : 3 177 970 shares ) in Senwes Ltd as at 30 April 2022 .
The Senwes Share Incentive Scheme Trust purchased 2 564 144 shares ( 2021 : 957 406 shares ) from Senwes Capital and 246 723 shares ( 2021 : 381 219 shares ) were repurchased from the participants of the scheme . The Senwes Share Incentive Scheme Trust held 6 588 146 shares ( 2021 : 5 585 968 shares ) as at 30 April 2022 .
*** During the year 1 808 689 shares ( 2021 : 1 824 038 shares ) vested under the LTI-scheme .
15 . RESERVES 15.1 Share premium
GROUP 2022 R ' m
2021 R ' m
COMPANY 2022 R ' m
Balance at the end of the year 67 67 67 67
15.2 Treasury shares
GROUP 2022 R ' m
Balance at the beginning of the year |
( 98 ) |
( 124 ) |
Treasury shares vested * |
21 |
18 |
Net treasury shares ( purchased )/ sold ** |
( 52 ) |
8 |
Balance at the end of the year |
( 129 ) |
( 98 ) |
* During the year 1 808 689 shares ( 2021 : 1 824 038 shares ) vested from Senwes Share Incentive Scheme Trust to the qualifying members of the LTI scheme . |
** Refer to note 14 for a description of the treasury shares purchased and sold during the current financial year . Net treasury shares sold include a non-cash flow |
component of R3 million relating to disposal of shares by Senwes Capital ( Pty ) Ltd to the Senwes Share Incentive Scheme Trust and the LTI share vesting of |
tranche 5 of R21 million . ( 2021 : Included a non-cash flow component of R64 million relating to disposal of shares by Senwes Capital ( Pty ) Ltd to Senwes Ltd and |
the LTI share vesting of tranche 4 of R22 million .) |
15.3 Other reserves
GROUP 2022 R ' m
2021 R ' m
COMPANY 2022 R ' m Balance at the end of the year ( 9 ) 6 ( 14 ) - This reserve represents fair value changes on financial assets at fair value through other comprehensive income as indicated in note 7.1.1 , the fair value movement on the investment held by Molemi Sele and the cash flow hedge movement of a highly probable forecasted transaction .
15.4 Change in ownership
GROUP 2022 R ' m
Balance at the beginning of the year |
( 13 ) |
( 28 ) |
Change in ownership of subsidiaries * |
( 4 ) |
( 13 ) |
Recycling of reserves ** |
- |
28 |
Balance at the end of the year |
( 17 ) |
( 13 ) |
* Relates to Agrinet ( Pty ) Ltd`s repurchase of its own shares during the year for R10 million ( 2021 : refer to the transactions described in note 6.1 ). ** Relates to a change in ownership reserve which originated within the Hinterland Holdings Group while accounted for as a joint venture . During the prior year , the Hinterland Group became a fully owned subsidiary ( refer to note 6.1 ) and was consolidated in the Senwes Group . As a result , the reserve was transferred from equity reserves to retained earnings .
2021 R ' m
2021 R ' m
2021 R ' m
2021 R ' m
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