12. INVENTORY HELD TO SATISFY FIRM SALES
GROUP
2020
R’m
2019
R’m
Inventory held to satisfy firm sales 105 234
Inventory held to satisfy firm sales represents inventory purchased to satisfy firm sales to the off-taker in respect of agricultural produce,
which is payable by third parties on delivery of such agricultural produce to them. The price of such inventory is hedged on the South African
Futures Exchange (Safex). Variations are also set off against these items. Inventory is measured at fair value, which is linked to the Safex
price.
13. DISCONTINUED OPERATIONS
13.1 DISCONTINUED OPERATIONS: 2020
There were no discontinued operations during this year.
13.2 DISCONTINUED OPERATIONS: 2019
There were no discontinued operations during 2019.
14. ISSUED CAPITAL
GROUP
COMPANY
2020
2019
2020
2019
R’m
R’m
R’m
R’m
Authorised:
160 542 874 (2020 and 2019) ordinary shares of no par value
Issued:
*
116 091 853 (2019: 114 609 307) ordinary shares of no par value 13 5 13 5
* 1 482 546 shares were issued during the year as part of the KLK acquisition, refer to note 6.2. (2019: 916 992 shares have been issued during
the current financial period under review as a result of the script dividend offered to shareholders during the prior financial period
ending 30 April 2018.)
15. RESERVES
15.1 SHARE PREMIUM
GROUP
COMPANY
2020
R’m
2019
R’m
2020
R’m
2019
R’m
Balance at the beginning of the year 498 498 498 498
Balance at the end of the year 498 498 498 498
49
SENWESBEL ANNUAL FINANCIAL STATEMENTS 2020 Senwesbel Limited Reg no: 1996/017629/06